Scope of Gemstone Certification in India
The Indian consumer has become much more informed and specific for various products. Nowhere is this more prominent than in the jewellery market. Now a days diamond jewellery cannot be sold without even with the smallest stones being certified. Almost all the diamond jewellery brands, as well as few local jewellers selling unbranded jewellery offer certification of at least the significant diamonds if not all the diamond jewellery. They do this because the consumer demands it.
The Indian Diamond Certification industry has seen a rapid growth over a last few years. Laboratories have emerged everywhere. But does this need for the assurance for a certificate extend to coloured gemstones as well? Does the inter- dealer trade or the consumer ask for the gemstone certification?
In this paper, I look forward to find answers to these questions. This colloquium will help me explore the less explored segment of jewellery design in relation with the Indian jewellery market. This would also make me understand the mindset of the Indian jewellery consumers.
WHAT GEMSTONE DEALERS SAY
Gemstone dealer, Suresh Bhai of Suresh Gems, Manekchowk says that there is a demand for certification in interdealer transactions, because it lets them know about the quality of the stone. He says this does not affect the valuation of their stones.
In my opinion, this valuation does not get affected because of the reason that there is a much more bond of trust between a retailer and a dealer as measured to a retailer and a consumer. A retailer is less likely to get to be cheated by a dealer because of the fact that the time span and the number of transactions between both of them is more than the transaction between the retailer and a consumer. Also, the policy of profit making is more dependent and based on a consumer. A dealer and a retailer by time and experience gets more and more efficient and educated about the system and the gems and...