Indian Chamber of Commerce hosts Diamond Conclave; leaders discuss future of natural diamonds

The event saw a panel discussion with industry leaders sharing perspectives on ethical sourcing, brand consciousness, and the standardization surrounding diamond gradation

Kolkata: The Indian Chamber of Commerce (ICC) National Expert Committee on Jewellery and Lifestyle, and Ladies Study Group (LSG) recently hosted The Genuine Gem and ICC Diamond Conclave. The event brought together industry leaders at the forefront of the Indian diamond economy to discuss the future of diamonds and strategies around the same.

The titular panel discussion titled ‘The Genuine Gem’ saw experts including Amit Pratihari, Vice President, De Beers Group; Richa Singh, Managing Director, India and Middle East, National Diamond Council, and Chirag Soni, Director, SGL Labs shared their advice and perspectives on current industry trends.

Richa Singh highlighted the myths surrounding black gold diamonds, emphasising the council’s mission to keep diamonds relevant and preserve their emotional significance. She also highlighted the importance of ethical sourcing.

Amit Pratihari shed light on the intricacies of diamond sourcing and the ethical practices employed by companies such as De Beers Forevermark. He introduced the concept of the Origin Program, which enables consumers to trace a diamond’s origin, rarity, and impact, thus fostering trust and confidence in the purchase.

“When you buy a De Beers Forevermark diamond, you know which country that diamond is coming from. We are trying to reinforce the value of transparency and pride in your purchase,” he shared.

Chirag Soni talked about meticulous diamond gradation processes. He explained the complexities involved in determining the quality and authenticity of diamonds, and the certification processes they undergo, reassuring buyers about the credibility of their purchases.

The panel was followed by an interactive session with actor and jewellery designer Neelam Kothari Soni, who outlined her transition from Bollywood to the gems and jewellery industry. She highlighted the challenges faced by jewellers in adapting to changing consumer preferences, stressing the importance of uniqueness and quality in contemporary designs, as well as the necessity of strictly following standardization and certification protocol. Addressing the changing dynamics of the jewellery market, she pointed out the shift towards simplicity, minimalism and brand consciousness.

The conclave wrapped up with a jewellery fashion show, which added a touch of glamour to the event. Sheetal Bamalwa, from Nemichand Bamalwa & Sons, and Vinod Bamalwa, Chairman, ICC National Expert Committee on Jewellery, showcased a wide variety of diamond jewellery from their latest collection, including sets of diamond and emerald, diamond and diamond and gold.

Courtesy: t2online.in