As the initiative gathers momentum, participating retailers share their perspectives on how Project INDRA supports their business needs and helps address current market challenges
Ahmedabad: The Indian Natural Diamond Retailer Alliance (INDRA), launched by the De Beers Group in partnership with the Gem and Jewellery Export Promotion Council (GJEPC), has taken off in a big way in the city of Ahmedabad. Several independent jewellers have enrolled in Project INDRA, reflecting growing interest in a shared approach to strengthening natural diamond retail. Even as participation continues to gather momentum across the city, a few retailers speak to The Retail Jeweller to share their perspectives on how Project INDRA supports their business needs and helps address current market challenges.
Parasmani Jewellers is a prominent name among the retailers that have joined the initiative. Harsh Soni, Director, Parasmani Gems Private Limited, says, “At Parasmani Jewellers, we expect Project INDRA to support our business by strengthening consumer awareness, trust and transparency around natural diamonds. It will help educate customers about the rarity, long-term value and emotional significance of natural diamonds, which directly supports informed buying decisions. Ahmedabad has evolved into a mature and value-driven market over the last three years, with customers seeking authenticity and certified products. However, challenges like price sensitivity and competition from lab-grown diamonds remain. Project INDRA will help by promoting clear differentiation, reinforcing confidence and driving demand for natural diamond jewellery.”
Chintak Jhaveri, Director, Arunbhai Maneklal Jhaveri & Sons, says, “Project INDRA will bring back enormous shine to the natural diamond trade. It will help market the business in unexpected ways andunexplored segments. Ahmedabad always had tremendous potential in the natural diamond trade,anddemand has grown consistently over the years. With increase in corporate and HNI clients, and considering the footfalls of NRI clients, there has never been challenging times for natural diamonds. But with Project INDRA, it will further boost the trade to a new pedestal with robust momentum. We are glad to be associated with Project INDRAsince we are a 75-year-old firm dealing in only natural diamonds. We look forward to a very positive and fruitful collaboration.”
PanchratnaJewellers Private Limited has also signed up for Project INDRA and views it as support amid pricing pressure and category shifts. Archit Soni, Director, PanchratnaJewellers Private Limited, says, “Due to the surge in gold prices, retailers are giving discounts on diamond rates, which can disrupt retail sales. INDRA should bring out a plan to avoid this. From a marketing perspective, INDRA will be very helpful in driving promotions and attracting new buyers. It will also give confidence to retailers to continue focusing on natural diamond sales rather than diverting to lab-grown diamond jewellery, as there has been a fear of losing business. Over the past few years, natural diamond sales in Ahmedabad have increased, and I have positive sentiments about future sales, though we may need to compromise on gold purity to keep prices lower. What is required is strong promotion for natural diamond jewellery, and Project INDRA can play a key role in supporting retailers on this front.”
Since its launch, Project INDRA has been transforming how natural diamond retailers across India manage sales and customer interactions. The programme focuses on consumer education, category alignment and structured support for retailers navigating changes in the jewellery market.
As more retailers in Ahmedabad continue to come on board, Project INDRA is emerging as a collective framework for addressing category clarity, consumer communication and sustained focus on natural diamond jewellery.
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