The diamond segment emerged as a beacon of optimism for manufacturers, as the narrow price gap between gold and diamonds is fueling greater demand for natural diamond jewellery. With retailers increasingly pushing diamond pieces, manufacturers are witnessing a surge in orders, indicating a strong comeback
Bengaluru: IIJS Tritiya 2025 unfolded as a major event for the B2B jewellery sector in the southern region recently, bringing together the industry’s leading manufacturers and retailers under one roof at the Bangalore International Exhibition Centre (BIEC) in Bengaluru from March 21 to 24, 2025.
The third edition of the B2B jewellery show, organized by the Gem & Jewellery Export Promotion Council (GJEPC), featured over 1,100 exhibitors from 50 cities across India. They displayed their products in 1,900 well-arranged stalls spread over three big halls. The large number of participants was made even more impressive by the addition of 500 new exhibitors.
The show brought forth new ideas and trends in the South Indian jewellery industry, yielding mixed results across various categories. Gold manufacturers reported a fantastic opening day but an overall slower season, characterized by a decline in buying activity on subsequent days. Although they made a good profit by value, the number of gold pieces sold was lower. The constant rise in gold prices has led to higher demand for lightweight jewellery and 18k gold pieces. Noticeably, manufacturers who focused only on lightweight gold jewellery enjoyed strong sales and projected the trend of lightweight jewellery in the region.
“With gold prices rising day by day, lightweight jewellery has become the need of the hour. At IIJS Tritiya 2025, our focus on 18-carat lightweight jewellery has been well received, as customers seek affordability without compromising on design. Our focus on yellow gold has helped us penetrate south Indian jewellery market.,” said Yash Vardar, CEO, R.K Silver & Gold, Rajkot.
While manufacturers wait for gold prices to stabilize, they remain confident that the gold jewellery market will be even more aspirational and investable as prices rise. In contrast, the natural diamond segment of the show was a bright spot and emerged as a beacon of optimism. Natural diamond manufacturers noted an uptick in sales, driven by the marginal differences in pricing between gold and natural diamonds. This pricing dynamic is enabling retailers to more effectively pitch natural diamond jewellery, which in turn is catalysing a noticeable resurgence in the demand for natural diamonds.
“This IIJS Tritiya, we have been observing a demand for more diamonds in lightweight gold jewellery,” said Saayli, Creative Director, Kiran Jewels, Mumbai.
This ‘more diamonds and less gold’ narrative reflects broader cultural and social changes that have taken root over recent years. An emerging trend in the region has highlighted a marked shift towards chunky jewellery and pieces richly adorned with coloured gemstones. “We have observed an increase in coloured gemstone jewellery demand. We offer traditional South Indian gold designs without added stones, as well as chunky, coloured gemstone pieces inspired by the North. With social media trends, Bollywood weddings and rising gold prices, even the gold-obsessed South Indian market now seeks chunky and gemstones jewellery. We are using this shift to expand our reach in this competitive region,” said Sukhdev, Operations Head, Vijay Exports, Mumbai.
Many exhibitors pointed out that the market appears to be witnessing the much-awaited ‘comeback’ of natural diamond jewellery, particularly after the slowdown experienced due to the emergence and growth of lab-grown diamonds in previous years. Now, with the increased demand, industry experts forecast that not only will natural diamond prices continue to appreciate, but investment potential in diamonds will rise significantly in the coming years.
Notably, at the Retail Jeweller South Forum 2025, held a day before IIJS Tritiya, Amit Pratihari, MD of De Beers India, said that the company had foreseen the rising potential of natural diamonds and had already begun taking initiatives to support this growth. He stated that De Beers has begun boosting natural diamond sales through the INDRA platform and the ‘Love, From Dad’ campaign, where registered retailers will receive assistance in promoting natural diamonds across India. “We are very optimistic about the future of the natural diamonds market. Our INDRA platform is designed to educate and empower independent retailers in Tier II, Tier III and Tier IV cities, enabling these small-town players to join our marketing efforts and receive full support in promoting natural diamonds. Additionally, our ‘Love, From Dad’ campaign, launched on March 25, is aimed at attracting a younger clientele to the natural diamonds segment,” Pratihari explained.
Meanwhile, silver also found its place at IIJS Tritiya 2025, emerging as a major category that challenged old views. Traditionally seen as just an alternative to gold, silver has now become a popular choice in its own right, especially as the young generations are becoming the buyers. Manufacturers pointed out that silver’s growing popularity was driven not only by rising gold prices but also by its many design options, comfort in wearing, and good investment value compared to fashion jewellery. The show saw a 30-35% increase in silver sales compared to previous years, with gold-plated silver pieces becoming especially popular in bridal collections.
“Sales growth at this year’s IIJS Tritiya exceeded 30-35%. Even with fewer visitors, the silver demand is thriving, as the South Indian jewellery market becomes more open to silver, particularly among younger buyers. In addition to the strong local response, we also saw interest from customers in New Delhi, Kashmir and Nepal, resulting in strong sales at the show,” said Hemant Gupta, Owner, Ira Jewels, Mumbai.
This change in customer behaviour encouraged many gold manufacturers to add silver as a separate category in their displays, receiving a very positive response from retailers who are now launching their own silver brands. “We offer both gold and silver, and this season, our silver sales are booming. Our range includes traditional South Indian designs, Kundan, handmade Nakshi, and 3D casting bridal jewellery. IIJS Tritiya has been a great platform for us, bringing together a wide range of retailers in one place—a definite advantage for local manufacturers,” said J Kaushik, GM, Dhyaan Jewels LLP, Bengaluru.
Even though the prices of lab-grown diamonds had dropped by 85% over the past year, manufacturers of lab-grown diamond jewellery reported a steady performance. First-time exhibitors were hopeful about breaking into the South Indian market, supported by encouraging initial sales figures. Meanwhile, returning participants observed a gradual yet clear increase in customer acceptance of lab-grown diamonds, with some even reporting a 10-15% rise in sales.
“During the previous seasons, many customers were just window shoppers due to lingering doubts, but now serious buyers are coming in, and enquiries are quickly turning into sales. With the gold price increase and changing customer trends, both retailers and end customers are increasingly interested in lab-grown diamonds, making this a very promising market for us,” said Anil, Marketing Head, Anjali Diamonds Pvt. Ltd, Surat.
A notable new feature at IIJS Tritiya 2025 was the introduction of the ‘Select Club.’ This premium section, dedicated to high-end couture jewellery, confirmed the growing importance of diamonds, gemstones and bold designs in the South Indian market.
Men’s jewellery manufacturers were also well-represented at IIJS Tritiya 2025, underscoring the importance of the South Indian market for this segment. These manufacturers noted that nearly 80% of their demand comes from South India, highlighting the region’s growing appetite for stylish and traditional men’s accessories. “We specialize in men’s jewellery and enjoy strong demand from South India, with around 80% of our orders coming from key cities like Chennai, Bengaluru, and Madurai,” said Harsh Jain, Marketing Head, Shubh Ornaments, Mumbai.
“Even though exhibitors reported that Day 1 of the show was very successful with many quality customers visiting, on Day 2, due to external issues such as the Bengaluru strike, the crowd was noticeably smaller,” said Ritesh Nahar, Managing Director, Nahar Diamonds, Bengaluru. Most exhibitors felt the event might have drawn more visitors had it not been scheduled towards the end of the financial year.
Even with the growing interest in diamond and gemstone jewellery, manufacturers from non-South cities such as Surat, Jaipur and Mumbai admitted that it can be challenging to enter the unique and competitive South Indian market. They see the region as a key market full of opportunities. Many of these manufacturers have taken a mixed approach by combining traditional South Indian design elements with gemstone jewellery ideas from the North. For local manufacturers, IIJS Tritiya 2025 proved to be the largest platform yet for connecting with a wide range of retailers from South India, which is very important in a market that is always changing.
Overall, IIJS Tritiya 2025 was more than just an exhibition—it was a look at the South Indian industry in change, where new opportunities arise every day. With each edition, the event not only strengthens its position as a major B2B platform in the region but also sets a clear path for those looking to strengthen their hold in India’s biggest jewellery market.
Written by Pratyasha Kumari
Retail Jeweller India Exclusive
