Page 41 - Diamond Digest :: Nov. - Dec. 2023 Issue

Global News & Views.....
GSI Unveils Cutting-Edge Laboratory in Thrissur, Kerala, Setting New Standards in Gemological Excellence
Gemological Science International (GSI) proudly inaugurated its state-of-the-art laboratory in Thrissur, Kerala. The inauguration ceremony, attended by esteemed figures from the jewelry industry, including Mr. Joy Alukkas, Chairman of Joyalukkas; Mr. Rajesh Kalyanaraman, Executive Director of Kalyan Jewellers; and Mr. Paul Alukka, Managing Director of Jos Alukkas, showcased GSI’s unwavering commitment to excellence.
The event commenced with the ceremonial lighting of lamps, followed by the official opening of the advanced GSI laboratory. “We are delighted to introduce ourlaboratory in Thrissur, Kerala,” declared Ms. Debbie Azar, President & Co-Founder of GSI. “This laboratory is another proof in our unwavering commitment to deliver best possible gemological services to Indian gems and jewelry industry.”
During the ceremony, Mr. Ramit Kapur, Managing Director of GSI India, shared insights into GSI’s global initiatives, emphasizing their continuous investment in research and innovation. He underscored GSI’s mission to empower retailers by offering global standard grading, supported by state-of-the-art technology and innovation. “Thrissur, Kerala, being a prominent jewelry hub, aligns perfectly with our mission to equipjewelers with tools to be able better serve jewelry buying consumers,” stated Mr. Kapur.
The event gained momentum with a panel discussion, featuring esteemed guests, who delved into the challenges and opportunities in retailing and emphasized the pivotal role played by global gemological labs such as GSI in authenticating jewelry. “The arrival of a world-class laboratory like GSI in our city and state is a momentous occasion,” remarked Mr. Paul Alukka, Managing Director of Jos Alukkas. “We appreciate GSI’s advanced technology, especially in detecting lab-grown diamonds, which instills confidence in us. This venture will greatly benefit local diamond manufacturers and retailers.”
The ceremony also featured an enlightening seminar led by GSI’s Chief Gemologist, Ms. Deepa Srinivasa, on “The New Age of Laboratory Grown Diamonds.” She discussed the evolving challenges posed by lab-grown diamonds and detailed GSI’s meticulous detection and identification process. Leveraging sophisticated detection equipment, GSI ensures zero contamination and absolute authenticity for every piece of diamond jewelry.
The event culminated in a networking night, fostering a sense of camaraderie among key players in the gems and jewelry industry. GSI’s advanced laboratory in Thrissur promises to set new benchmarks in the industry, ensuring unparalleled accuracy and reliability in gemological certifications.
Exceptional Jewellery sales illuminate Dhanteras and Diwali Celebrations
Industry witnessed around 25 to 30% sales growth.
All India Gem & Jewellery Domestic Council (GJC), the national apex body of the domestic gems and jewellery industry is proud to announce positive sales during festive season of Dhanteras and Diwali.The glittering festivities were complemented by India Jewellery Shopping Festival (IJSF), scheduled from 15th October to 22nd November 2023 has captivated the hearts of the customers and enhanced the joy of the celebrations.
This year’s sales surge is a testament to the timeless allure of innovation, crafted with precision and passion. This year also saw a spike in young customers footfalls are up by 45% to 60%, driving major sales in Diamond and Platinum based jewellery. The Gold imports in September stood at around 80 tonnes gross this year, while silver at 500 tonnes.
Mr. Saiyam Mehra, Chairman GJC, Said, “The Dhanteras was very auspicious for the Gems & Jewellery Industry. Sales of approx. 25 tonnes of Gold was witnessed with an
estimated revenue of Rs 25,000 crores, which includes silver coins, jewellery and artifacts, Labgrown diamonds, Gemstones etc. GJC’s initiative India Jewellery Shopping Festival (IJSF) has also helped in generating higher demand at the retail counters this year. This also shows India’s undying love of gold and with such good response, we as an industry are confident to play a bigger role in development of the nation.”
Mr. Rajesh Rokde, Vice Chairman, GJC Said, “The Dhanteras and Diwali has bought back the confidence amongst the jewellers. The gold prices have also helped in generating the demand and overall, we have witnessed 25% to 30% increase in sales as compared to last year. GJC’s India Jewellery Shopping Festival (IJSF) has encouraged positive business for retailers and even the end customers are excited to win prizes, which are worth crores of rupees. The outlook of upcoming wedding season looks promising, and we are confident that jewellers will take good benefit from it.”l
41 • Diamond Digest • Nov. - Dec. • 2023