1.

Introduction
Gemstones are the soul of costume jewelry. They have been used since the ancient times, to
beautify jewelry items. Their color, luster, cutting style and rarity, is what sets them apart from
other mineral crystals and defines their value. Also, their extraordinary healing powers are not
hidden from the world. A gemstone is a precious or a semi-precious stone used in jewelry.
Gemologists identify gemstones. They label gems in the arena of gemology using practical
language and their features. A gemologist uses the gemstone’s chemical arrangement to classify
it. For instance, diamonds are made of carbon (C). Many gems are categorized by a crystal
system because they are crystals. Gemstones are classified into different varieties, species, and
groups. They are also characterized in terms of dispersion, hardness, specific gravity, refractive
index, luster, fracture, and cleavage. Flaws in a stone are known as inclusions.

In the West, precious stones are diamonds, sapphires, rubies and emeralds. All other stones are
considered semi-precious stones. A semi-precious stone is also known as a gem or gemstone
(also a jewel, a gem, a precious stone), which is a portion of mineral, which, in refined and cut
form, is used to create jewelry or other embellishments. There are also organic resources or
precise rocks that are not minerals (for example jet or amber) that are also used for jewelry and
would also be considered to be gemstones, as well.

However, this is a commercial based classification and was a distinction that marketers created
years ago which gives the false impression that precious stones are more valuable than semi-
precious stones. For example, a Tsavorite green garnet is more valuable than a mid-quality
sapphire. It’s a concept from the West that often puts misconceived notions of the truth into
consumers’ minds. So contextually there is a difference between semi-precious and precious but
it is mostly for show and strictly from a commercial perspective. Usually precious stones like
diamond, ruby, emerald, sapphire is used in gold jewellery and semi-precious stones like topaz,
jade, opal, amethyst etc. is used in silver jewellery. A precious stone and a semi-precious stone
are both classifications of gemstones. It is a portion of a mineral, which, in refined and cut form,
is used to create jewelry or other embellishments. The term “precious stone” versus “semi-
precious stone” is a commercial term that simply isn’t always applicable. They are terms that
exist solely in the West and were created as a marketing tool by the people who were looking to
sell precious stones. Precious stones are diamonds, rubies, emeralds and sapphires. All other
stones are considered semi-precious stones.
 1.1. History of Gemstone Jewelry in India:

Several pieces of stunningly carved handmade gemstone jewelry have been discovered in ancient
civilizations, highlighting the fact that gemstone jewelry was popular even then. Also, several
Indian scriptures like Mahabharata and Ramayana, document the mystical healing powers of
gemstones and how they were adorned by kings and queens to increase their process.

Further, it is said that it was India’s rich gemological reserves that fascinated the Mughals to set
up their empire in India. In the Mughal era, the stone craftsmanship prospered in all parts of
India. Many new forms of gemstones and semi-precious stones were used to create glorious
jewelry pieces to compliment the royal family’s day to day attires. However it was during the
Victorian empire patronage that India emerged as a trading hub of precious as well as semi-
precious stones which were immaculately set in to create marvelous stone studded-jewelry items.
There are several different ways in which semi-precious and precious gemstones are set by
Indian jewel designers and crafters. Some of these art forms are as ancient as 5000 years, while
on the other hand, some art forms are still under experimental stage.

1. Kundan

In this art form, gold is beaten up into strips and shaped into the desired form to form the base.
The glass stones - emeralds, rubies and sapphires are carefully set into the base. Also, silver set
Kundan jewelry is highly popular amongst youngsters in Rajasthan, Punjab and Bihar.
 2. Polki

Polki is uncut diamonds in their raw, pure form. Polki does

not undergo chemical treatments, unlike other diamonds. It
doesn't have a very clear color giving it a very rustic look.
Since it's the purest form of diamonds available, it's
extremely expensive. The process of Polki is the same as
Kundan. Because uncut diamonds Polki has more sheen than
Kundan. These jewellery styles are mainly made in Gujarat
and Rajasthan.

The process of making Kundan and Polki is called Jadau.

3. Navaratna Jewellery

In Navratna jewelry, nine auspicious

stones are set together in a single
ornament to ensure the welfare of the
adorner. These nine gems are ruby, pearl,
diamond, emerald, coral, cat’s eye,
sapphire, topaz and garnet; each for a
specific purpose.

4. Pachchikam Jewellery

This form originated centuries ago in Gujarat,

and still forms an essential component of
contemporary fashion jewelry. It has a striking
similarity to Kundan work, but sports a cruder
and fragile look. Usually uncut semi-precious
stones and glassworks are used to make
Pachchikam jewelry.
Though earlier gold and platinum where used as a base for Pachchikam artwork, now silver is
used to make it a little pocket-savvy.

5. Beaded Jewelry

Beaded Jewelry, was once limited to parts of Rajasthan,

Haryana and Punjab but is now well known in all parts of
the world. In earlier days, stone studded beads were strung
together and often used as hair accessories, anklets and
armlets. Also, hard mineral crystals were used as beads to
embellish necklaces and other ornaments.
 2. Precious Metals & Gemstones:

2.1. DIAMONDS

The colorless beauty and inner fire of the diamond has made this precious gem prized for
centuries. Each stone's complex characteristics cannot be duplicated, and no two diamonds can
ever be the same. A diamond is the hardest substance known to man, making it resistant to
deterioration. Although new resources for diamonds are being explored and discovered, the
supply of these gems remains limited.
More than 250 tons of ore need to be
blasted, crushed and processed to yield
just one carat of rough diamond. Further,
only 20 percent of all rough diamonds are
suitable for gem cutting. Like other
gemstones and precious metal like gold,
diamond price also fluctuates though its
value after years of being worn and
enjoyed.

Different shapes of diamonds are as follows:

 I. 4 C’s of Diamond
The 4Cs devised by GIA (Gemological Institute of America) provide a way to objectively
compare and evaluate diamonds. The 4Cs are the following:

• Cut
Cut or shape refers to the arrangement of the facets in a systematic way. Most diamonds are cut
round with full 58 facets, and a good cut, or make, has more scintillation, more sparkle. A
diamond cut's grade describes the polished stone's degree of quality. A diamond's cut grade is not
the same as its shape. Shape means the outward look of the diamond (such as round, square,
oval, pear and so on). Cut grade refers to the reflective qualities of the diamond

Brilliant Cut

Brilliant cuts consist of triangular and kite-shaped facets that spread outward from the center of
the gem. As befits its name, the brilliant cut gives off the most scintillation of any cut.
 • Clarity

A diamond's clarity is determined by the number, nature, location, size and color of its internal
characteristics called "inclusions," and its surface features called "blemishes." These flaws, or
effects, originate in the liquid magma (volcanic rock) within which the diamond was created. 
A diamond's clarity is measured on a scale ranging from completely pure (flawless) to heavily
included (I-3). The types of internal inclusions that affect a diamond's clarity include feathers
(fractures that resemble feathers), clouds (internal crystals appearing like dust) or needles
(inclusions that resemble tiny needles). Typical external blemishes include chips (damage to a
diamond's facet), bruising (caused by an external impact) or knots (caused by inclusions
penetrating the diamond's surface). 
Lighter inclusions in both white and fancy colored diamonds are sometimes even transparent and
undetected by the naked eye. There's a key term, 'eye clean,' which is used to describe borderline
diamonds such as those graded with mediocre clarity as VS2 or SI1. When we state a diamond is
'eye clean,' it means the diamond's inclusions cannot be detected by the naked human eye. a

• Color

A diamond's color is a result of varying quantities of nitrogen and other trace elements present in
all diamonds, displacing the carbon atoms within the crystal’s structure. Increasing degrees of a
diamond's body color are measured on a scale ranging from no color at all (D) to visible
saturated color (Z). Beyond "Z" is the range where the diamond's color is rich, both in hue and in
its distribution, and the diamond is then considered to be a fancy color diamond, which is graded
on an intensity level between very light to fancy deep or fancy vivid. 
A machine called the "Colorimeter" can be used for color grading but there is no substitute for
the trained human eye. 

• Carat

Carat is the weight unit used for all gemstone evaluation. One carat equals exactly 0.2 grams and
is divided into 100 points (0.01 carat each), in which one carat equals 100 points. Therefore, each
point weighs 2 milligrams.  A diamond's carat is a measurement of its weight and not its size, as
the form and cut of the diamond might affect its overall measurements (width, length, depth)
making diamonds of similar carat weight sometimes appear different in size.
The price per carat of diamonds rises proportionately with size. The following is a chart
indicating the average mm size per carat:

II. Types of diamond setting:

• Prong Setting

Two or more prongs wrap around

the crown of a stone to secure it
in place. Also known as a claw
setting, this mounting style
minimizes the amount of metal
used, allowing more light to pass
through a diamond or gemstone.
 • Shared Prong Setting

Prongs are wrapped around the

crown of a stone to secure it in
place. This type of setting
minimizes the presence of metal,
allowing more light to pass
through a diamond or gemstone.

• Channel Setting

Diamonds are secured in place

between vertical metal walls,
creating a smooth channel. In this
contemporary setting, the stones are
nestled side by side with no metal in
between.

• Bar Channel Setting

diamonds or gemstones are secured in

place between two vertical metal
walls on either side of each diamond.
 • Pave Setting

Diamonds are set low and very close

together using tiny beads. The surface of
the ring will appear to be encrusted with
stones for a brilliant effect.

• Bezel Setting

A metal rim surrounds a diamond or

gemstone by the girdle to secure it in place.
This dramatic setting style can create the
illusion of a larger stone.

• Gypsy Setting

The band is one continuous piece that gets thicker at the top.
The band is shaped like a dome and the stone is inserted in the
middle. There are no prongs; therefore, the look is smooth and
clean.
 • Tension Setting

A tension-set diamond is held in place by the pressure of the

band's metal, which is designed to "squeeze" the stone.

• Illusion Setting

An illusion setting is smaller stones, usually princess cuts,

set next to each other and held from below to give the
illusion of a larger diamond. This setting is more intricate
than others and creates a visually interesting piece.

• Cluster Setting

This setting surrounds a larger center stone with several

smaller stones. It is designed to create a beautiful piece of
diamond jewelry from many smaller stones.

III. Diamond Price

The diamond price chart, also known as Rapaport Price List or just “The List” is a matrix that
provides a benchmark to a diamond’s value based on its 4 C’s. India’s diamond exports ranked
second in the world valued at US$ 18.1 billion which accounted for 15.3 per cent of the global
diamond exports in FY17

Here is the Rapaport price chart for round diamonds weighing 0-5 carats:
 2.2. PLATINUM

Like gold Platinum is malleable, ductile, and dense transition metal. Platinum is highly
unreactive, and one of the rarest elements on earth. Color is silverfish white. Platinum is
extremely rare therefore; Platinum is an expensive metal. Platinum is hard to wear out and
tarnish, so many prefer it as a jewelry.

It can only be sold with licensed users, hence not easily available. Platinum is the most secure
metal to set diamonds and precious stones. Platinum is a white metal, but unlike gold it is used in
jewelry in almost its pure form (approximately 95% pure).

• Metals used in platinum jewelry usually

fall into one of three categories:
➢ Pure platinum
➢ Other platinum group metals
(palladium, ruthenium, rhodium,
iridium, osmium)
➢ Base metals (copper or cobalt, for
example)
Examples of Platinum Jewelry Labels
If You See This on
The Piece Is
The Label

Platinum At least 95% pure platinum

850 Plat. 85% pure platinum and 15% platinum group or base metals

80% pure platinum and 20% palladium; the product contains

800 Pt. 200 Pd.
100% platinum group metals

75% Platinum 25% 75% pure platinum and 25% copper; the total of pure platinum
Copper and other platinum group metals is less than 95%

No platinum label Less than 50% pure platinum

I. Platinum Price in India

Today Platinum Price

Saturday, 31 August 2019

₹2,909
Today platinum price in rupees per gram.

Today platinum price in India is 2,909 rupees per gram.

Platinum Price

Weight Price(Rs)
1 ounce (31.103 grams) ₹90,480.01
1 kilogram ₹2,909,000.00
1 gram ₹2,909.00

1 ounce = 31.1034768 grams

Platinum imports into India are set to rise in 2019 as its prices have declined steeply relative to
gold, fueling an increase in demand for the precious metal globally used for encasing diamond
jewellery.

Imports may climb up to 18 per cent to 7.08 tones this year as platinum has become cheaper by
Rs 8,090 per 10 gm in comparison with gold, industry sources indicated.

“Imports were at 6 tones in 2018 for the Platinum Guild International (PGI) programme," said
Vaishali Bane.

2.3. GOLD

Gold was among the first metals to be mined

because it commonly occurs in its native
form, that is, not combined with other
elements. Artisans of ancient civilizations
used gold lavishly in decorating tombs and
temples and gold objects made more than
5,000 years ago have been found in Egypt.
Gold is precious soft and brittle yellow metal. The purity is denoted in Karats. 100% pure gold
is marked as “24k”. However, it is unusual to find a “24k” mark on a jewelry because pure gold
is a soft metal and is more likely to scratch and bend. 24KT is not suitable for jewellery so to
harden, it is mixed to form alloys.

Grade Gold Percentage Metal Percentage Fineness Notes

24 KT 100% gold 0% other metals 999 Gold bullion / pure gold.
22 KT 91.6% gold 8.4% other metals 917 Some coins and
investment jewellery,
mostly Indian jewellery
18 KT 75% gold 25% other metals 750 Most Continental
European jewellery
14 KT 58.5% gold 41.5% other metals 583 Most North American
jewellery
 • BIS Hallmark

The BIS hallmark is a hallmarking system for gold as well as silver jewellery sold in India
certifying to the purity of the metal began on April 2000. It certifies that the piece of jewellery
conforms to a set of standards laid by the Bureau of Indian Standards, the national standards
organization of India. India is the second biggest market for gold and its jewellery.

I. Different Gold Colors

Gold jewelry is not pure gold. It is an alloy;

a mixture of metals. Gold jewelry can be
alloyed with silver, copper, zinc, palladium,
and nickel to create different gold colors.
most common gold colors are: yellow,
white, rose, and green.

Yellow gold is made by mixing pure gold with silver, copper, and zinc. It
is the purest color, the most hypo-allergenic, and requires the least
maintenance of all the gold colors.

White gold is made of gold and platinum (or palladium). White gold can
also be made of gold, palladium, nickel and zinc. White gold is more
durable and scratch-resistant than yellow gold. It is also more affordable
than both yellow gold and platinum.

Rose gold (or pink gold) is alloyed with gold, copper, and silver. Rose gold
is more affordable than the other gold colors because it uses the inexpensive
copper for its rose color. Due to its copper content, rose gold is more durable
than yellow or white gold.
 Green gold (or Electrum) is mixed with gold, silver, and sometimes copper.
Silver is what gives the gold alloy the green nuance.

II. Gold Plating Options

• Gold Layered
Since there is no Federal standard for “gold layered”, a gold layered jewelry could in fact have a
super thin gold layer.

• Gold Leaf
Gold leaf is gold that has been hammered by hand into extremely thin layers and been wrapped
(or glided) around the metal. Usually 22K or 24K gold is used as thin gold layers/sheets to
decorate art work and jewelry.

• Gold Plated - Gold Electroplated

If the jewelry is “gold plated” or “gold electroplated” it means that it has a very thin layer of gold
onto the surface of the metal. The base metal can be stainless steel or brass dipped into gold.
Gold plating is a process known as electroplating that gives the jewel a gold-like appearance. To
be named as “gold plated” or “gold electroplated”, the gold layer needs to be at least 7 millionths
of an inch thick and of at least 10k gold quality. Since the gold layer is quite thin, it can wear off
over time. The metal must have a stamp indicating plated quality: “GP”, “G.P”, “GEP”, or
“G.E.P”. Examples: “10K GP”, “10K GEP”.

• Gold Overlay - Rolled Gold Plated

A “gold overlay” or “rolled gold plated” jewelry has a thicker gold coating and is thus more
durable over time. The gold content must be of at least 10K gold quality but can be lower than
1/20 of the total weight. The base metal can be brass, stainless steel, or copper. It uses heat and
pressure process to mix and bond the metals. A gold overlay or rolled gold plated jewelry must
have a stamp indicating plated quality: “GO”, “G.O”, “RGP” or “R.G.P”. Examples: “1/40 10K
GO”, “1/40 10K RGP”
• Gold Filled
A gold filled jewelry is not actually filled with gold. Usually, its base metals are brass or copper
covered by sheets of gold. It uses a heat and pressure process (bonding process) to mix and bond
the metals together. The gold content must be of at least 10K gold quality and the gold content
must be at least 1/20 (5%) of the total weight. The gold layer will not flake or peel off with

reasonable care. A gold filled jewelry is safe for most people with sensitive skin. The metal
must have a stamp indicating filled/plated quality: “GF” or “G.F”. Example: “1/20 10K GF”

• Vermeil
Vermeil (pronounced ver-may) simply means “gold plated sterling silver”. The difference
between “vermeil” and “gold plated/filled”, is that gold vermeil jewelry has a thicker gold layer
and uses sterling silver as its base metal. This is why vermeil is a better choice (compared to
other gold plated jewelry items) for those with skin allergy. Vermeil is usually not marked,
but if a gold jewelry is marked with a “925” stamp, it probably means that it is a gold
vermeil. (The stamp for sterling silver is 925, .925, or the modern stamp S925. It stands for
92.5% pure silver and 7.5% alloyed metals.

III. Gold Price in India

India is the world’s second largest gold consumer.

 2.4. SILVER

Silver has been considered a precious element for 6000 years. It was first used as a currency in
700 B.C. and has had a role as a trading metal in nearly every ancient and modern culture. Silver
is considered to be a soft, malleable metal available with a characteristic sheen. It has the highest
electrical and thermal conductivities of all metals. Pure silver is typically very soft and
malleable; hence it is commonly alloyed to increase its hardness and durability for applications
such as jewellery. It is typically alloyed with copper in this instance, with sterling silver being
one of the most popular alloys, containing 7.5% copper. Copper is used as it is a hardening agent
and does not discolor the silver.

The purity or fineness of silver alloys is now described using the millesimal system in most
countries. This system uses a number to represent the purity of the alloy. The number described
purity in parts per thousand. In sterling silver copper alloy is mixed with silver.

eness Common Name Purity (wt.%)

999 Fine or pure silver 99.9
958 Brittania 95.8
925 Sterling silver 92.5
800 Jewellery silver 80

Previous to the millesimal system, the fineness of silver was expressed in carats. While the
fineness of silver alloys must be stamped or hallmarked into pieces, the millesimal value is
generally compulsory and the carat value now optional.
 I. Silver Price in India

2.5. RUBY

A ruby is a pink to blood-red colored gemstone, a variety of the mineral corundum. The quality
of a ruby is determined by its color, cut, and clarity, which, along with carat weight, affect its
value. The brightest and most valuable shade of red called blood-red or pigeon blood, commands
a large premium over other rubies of similar quality. Ruby is the traditional birthstone for July
and is usually pinker than garnet, although some rhodolite garnets have a similar pinkish hue to
most rubies. The world's most valuable ruby is the Sunrise Ruby.

A naturally occurring Natural ruby with inclusions A cut pink ruby Purple ruby

ruby crystal
 2.6. EMERALD

Emerald is a gemstone and a variety of

the mineral beryl colored green by trace
amounts of chromium and
sometimes vanadium. The most
desirable emerald colors are bluish green
to pure green, with vivid color saturation
and tone that’s not too dark. The most-
prized emeralds are highly transparent.

Almost all emeralds have significant fractures (sometimes called fissures in the trade). Emeralds
are more brittle than a gem like corundum. This makes them vulnerable to damage during
cutting, polishing, and setting, or even during careless daily wear. Emerald inclusions are often
described as looking mossy or garden-like. They’re sometimes called “jardin,” which is French
for garden.
 2.7. SAPPHIRE

Sapphire is a precious gemstone, a variety of the mineral corundum. It is typically blue, but
natural "fancy" sapphires also occur in yellow, purple, orange, and green colors. Sapphire is one
of the two gem-varieties of corundum, the other being ruby (defined as corundum in a shade of
red).

A pinkish orange variety of sapphire is called Padparadscha, originally found in Sri Lanka.
Padparadscha sapphires are rare; the rarest of all is the totally natural variety, with no sign of
artificial treatment.
 3. Semi-Precious Gemstones:
The value given to semi-precious gemstones depend largely on color, availably and quality.
Some semi-precious gemstones are not stones at all, but are made of organic material like amber,
coral and pearl.

3.1. AMETHYST

Amethyst is a vibrant violet purple color. Amethyst belongs to the quartz group of minerals and
is very valuable and precious. Amethyst receives its purple color from aluminum and impurities.

Amethyst has many powers but especially to soothe and stimulate emotions and the mind. It
allows the logic of sobriety and restraint but conveys the energy of passion and fire, spirituality
and resourcefulness.

3.2. CITRINE

Citrine is a very popular gemstone that comes from a large family of

quartz gemstones. Citrine carries the power of the sun. It is heartening
and warm, life giving and invigorating. Citrine is a premier stone of
resourcefulness, personal will and manifestation.
 3.3. TURQUOISE
Turquoise is an opaque, bluish-green mineral that derives its name from “Turkish,”. Turquoise is
made of hydrated copper and aluminum phosphate. The copper is what primarily gives turquoise
its color.

As one of the earliest stones mined, turquoise was used an an amulet for protection and
symbolized wealth in ancient cultures. As an amulet, it was believed to protect from harm and
negative energy.
 3.4. PERIDOT

Peridot is only found in one color which is a vibrant green color and that is rare for most
gemstones.

Peridot is known to help in efforts to learn new skills or to concentrate. It is a healing stone as
well and also known as the, “Study Stone.”

3.5. BLUE TOPAZ

Blue topaz was discovered over two thousand years ago. It contains hydroxyl and fluorine which
make it an aluminum silicate. It is colorless in its purest form.

Blue topaz is used when you want to seek forgiveness, develop perseverance, or reconcile
differences. It is also used excellently for healing efforts from destructive behavior and
addictions. It also helps to bring cheerfulness and trust.
 3.6. ROSE QUARTZ

Rose quartz is thought to have derivatives from small traces of titanium impurities. It is a unique
soft pink color and they tend to have the color deepened by cloudiness.

Rose Quartz is mainly a crystal of dedication and love. It is a stone to bring new romance, love
and relationships to your life.

3.7. JADE

The term Jade encapsulates many things and

covers a wide array of gemstones. The only
pure forms of jade are nephrite and jadeite.

Jade is known to convey affluence and

money, captivate affection and helps with
self-healing. It also offers security from
adversity and calamities.
 3.8. PEARL

Pearls are created by the coinciding of the platelets of film and aragonite of conchiolin flanking
to the pearl surface. Pearls are not specifically hard, but they are spectacularly difficult to crush
and compact. The pearl’s color varies greatly by the water and type of mollusk.

It is the birthstone for June and there are a great deal of traditions and customs associated with
the gemstone.
 4. Gems and Jewellery industry in India:
The Gems and Jewellery sector plays a significant role in the Indian economy, contributing
around 7 per cent of the country’s GDP and 15 per cent to India’s total merchandise exports.
It also employs over 4.64 million workers and is expected to employ 8.23 million by 2022.
The Government has recently undertaken various measures to promote investments and to
upgrade technology and skills to promote ‘Brand India’ in the international market.
India is deemed to be the hub of the global jewellery market because of its low costs and
availability of high-skilled labor. India is the world’s largest cutting and polishing center for
diamonds, with the cutting and polishing industry being well supported by government
policies. Moreover, India exports 75 per cent of the world’s polished diamonds, as per
statistics from the Gems and Jewellery Export promotion Council (GJEPC). Indian
government presently allows 100 per cent Foreign Direct Investment (FDI) in the sector
through the automatic route.

Latest update: July, 2019

4.1. MARKET SIZE
• Gold demand in India rose to 760.40 tones between January to December 2018. India's
gems and jewellery exports stood at US$ 4.99 billion between Apr 2019 –May 2019.
During the same period, exports of cut and polished diamonds stood at US$ 3.52 billion,
thereby contributing about 76.96 per cent of the total gems and jewellery exports in value
terms.
• The gems and jewellery market size is about US$ 75 billion as of 2017 and is expected to
reach US$ 100 billion by 2025. It contributes 29 per cent to the global jewellery
consumption.
 4.2. INVESTMENTS/DEVELOPMENTS

The cumulative Foreign Direct Investment (FDI) inflows in diamond and gold ornaments in the
period April 2000 – March 2019 were US$ 1.16 billion, according to Department for Promotion
of Industry and Internal Trade (DPIIT).
Some of the key investments in this industry are listed below.

• Deals worth Rs 8,000 crore (US$ 1.19 billion) were made at the Indian International
Jewellery Show held in August 2018.
• Companies such as PC Jewellers, PNG Jewellers, Popley and Sons, are planning to
introduce a virtual-reality (VR) experience for their customers. The customer will have to
wear a VR headset, through which they can select any jewellery, see the jewellery from
different angles and zoom on it to view intricate designs.

4.3. GOVERNMENT INITIATIVES

• The Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in
India from January 2018. The gold jewellery hallmark will now carry a BIS mark, purity
in carat and fitness as well as the unit’s identification and the jeweller’s identification
mark.
• The Gems and Jewellery Export Promotion Council (GJEPC) signed a Memorandum of
Understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) to
build India’s largest jewellery park in at Ghansoli in Navi-Mumbai on a 25 acres land
with about more than 5000 jewellery units of various sizes ranging from 500-10,000
square feet. The overall investment of Rs 13,500 crore (US$ 2.09 billion).
• Gold Monetisation Scheme enables individuals, trusts and mutual funds to deposit gold
with banks and earn interest on the same in return.
 4.4. FUTURE OF INDIAN JEWELLERY MARKET

• In the coming years, growth in Gems and Jewellery sector would be largely contributed
by the development of large retailers/brands. Increasing penetration of organised players
provides variety in terms of products and designs.
• Online sales are expected to account for 1-2 per cent of the fine jewellery segment by
2021-22. Also, the relaxation of restrictions of gold import is likely to provide a fillip to
the industry.
• The improvement in availability along with the reintroduction of low cost gold metal
loans and likely stabilisation of gold prices at lower levels is expected to drive volume
growth for jewellers over short to medium term.

Exchange Rate Used: INR 1 = US$ 0.0159 as of Q4 FY19.

 5. Jewellery Brand Study:

Reference

https://jewelryinfoplace.com/semi-precious-stones/#21

https://www.culturalindia.net/jewellery/types/stone-jewelry.html

https://blog.9gem.com/4cs-gemstones-cut-color-clarity-carat/

https://www.gemsociety.org/article/gem-cutting-terms/

https://www.consumer.ftc.gov/articles/0294-platinum-jewelry

//economictimes.indiatimes.com/articleshow/69511575.cms?utm_source=contentofinterest&utm
_medium=text&utm_campaign=cppst

http://www.peridot.com/types-of-gold/

https://www.ibef.org/exports/gems-and-jewellery-export.aspx

https://www.gia.edu/emerald-quality-factor