A healthy growth clip for 2020

IGI projected India sales in the 

Globe of €250 billion by 2020

IGI India certifies 24 lakh

pieces of diamond jewellery in 2018

The International Gemological Institute (IGI), the largest global independent gem certification and appraisal institute in India, has certified over 24 lac pieces of diamond jewelry at the laboratory based out of India alone, in 2018. The rise in number is clearly a sign of a more informed and conscious customer base becoming persistent on a certificate from an international certifying authority of repute, says Mr. Tehmasp Printer, Managing Director, IGI –India.

IGI unveiled 1,000+ certified new designs in association with prominent diamond jewellery manufacturers at a recent Buyer-Seller Knowledge Meet. The purity of the wonderful new trendy collections is assured by IGI Certificate. 

The industry has started developing concepts for the dreams and aspirations of Venus, giving diamonds, gemstone and fine diamond jewelry a redefined personality. The broad trends predicted for 2019 only foresee an affinity for contemporary designs combined with layered creations. Designers are of the opinion that the year is about to experience jewelry from a novel perspective.

The Indian wedding scenario is also undergoing a transition with the trousseau. No look is complete without a touch of Polki and Jadau and chokers with large colored gemstone and rough patterns are sure to be the most sought after wedding fashion statement.

An internal research house has projected a healthy growth clip for 2020 with projected global sales of Indian jewelry designs €250 billion by 2020. Jewelry market of 2020 will be highly dynamic, globalized and competitive. Indian designs are sure to make its mark in the international markets. It’s a celebration of elegant designs and the world is watching creative pursuits of Indian craftsmen become the next big thing.

Mr. Printer says, “The year 2018 has witnessed a paradigm shift in the preference for diamond jewelry among consumers. From traditional choices in designs, the focus is now on designs that define the individual adorning them. The thin line between fine jewelry and fashion jewelry is now thinning due to the ability of consumer segments to purchase luxury products for themselves. The increase in India’s overall rate of purchasing power has proved to boost the sale of fine diamond jewelry.”

From fancy diamond bracelets to polka necklaces, the demand for design oriented jewelry pieces is on the rise since the first quarter of 2018. Fashion fusion was yet another fad with temple gold jewelry getting uplift with diamonds. The use of precious and semi-precious stones was a trend that challenged conventional gold jewelry designs. Consumer segments that enjoy a greater share in the purchase aggregate prefer elaborate necklaces with solitaires.

This section shows an incline towards single large, precious gemstone cocktail rings and an overall increase in their knowledge about certified jewelry has led to an upward growth in certified jewelry purchase. The diamond jewelry segment has carved a niche for itself among high net income persons and women who now decide about jewelry purchases without any external interference.

The idea of a perfect solitaire engagement ring is still nestled and the industry has witnessed a rise in the sale of such unique pieces, often customized to the like of the customer. Women who nursed the idea of being gifted a diamond ring have now taken the helm of this pre-conceived notion and are exploring the avenue all by themselves.

Experts also perceive of fast fashion as a factor that may have led to this change. With new and evolved styles being curated by designers, the need for jewelry to perfect the look is on the rise. Inspired designs are high on demand and this has also led to every jewelry house trying its best to design and position their label accordingly. The story behind the creation is often sought after and an increasing number of jewelry houses are catering to this need of their customers.