Large-sized emeralds up to 100 carats, multicolour sapphires, and tourmalines are the flavour of the season. Buyers are also opting for new gem cuts to create refreshing designs and preferring gem layouts patterned with unusual combination of gemstones.
Riddhi Siddhi Gems, a 30-year-old business, specializes in manufacturing Zambian emeralds and tourmalines. According to owner Raghav Koolwal, tourmalines are currently the hottest-selling gemstones. Design houses and manufacturers are increasingly opting for cabochons, carved gems, bi-colour long baguette tourmalines, and more. “The vibrancy of these stones is remarkable. High-quality multicolour tourmalines cost between Rs. 5,000 to Rs.7,000 per carat, while bi-colour stones can fetch up to Rs. 5,000 per carat. We’ve been receiving orders from across India and Italy. Rubellites, which belong to the same family as tourmalines but have deeper pink shades, are also in high demand. We deal calibration sizes of Zambian emeralds, though the market for these is slow.”
Anil Panjabi of Tahilram Tirthdas says that buyers are favouring multicolour sapphires in all shapes and sizes. He notes that the prices of Zambian and Colombian emeralds have increased by over 35% in the last two years, yet demand remains strong. Buyers are particularly interested in large carat emeralds. The price of Australian South Sea pearls has surged by nearly 50% per carat due to scarcity. Glass-filled rubies in large sizes are popular, while Mozambican rubies under 1 carat are in demand. Tanzanites are becoming more popular each year, as they are seen as good substitutes for blue sapphires, which are traditionally worn in India for astrological reasons. Despite a 25% price increase, the demand for tanzanites is strong. “This show has been very successful for us, and the Indian market is thriving. The future of gems and jewellery industry in our country is good.”
High-profile weddings that captured media attention have spurred increased demand for emeralds. Mamta Panjabi of Lal Gems shared that buyers are now booking orders for up to 100 carats. The cost of emeralds ranges from Rs.15,000 per carat to Rs. 2.5 lakhs per carat.
“Previously, orders were typically for 15+ carats, but now it’s astonishing how buyers are booking these coveted green stones.”
Kunzites and morganites are also hot sellers. “Most of our orders are for layouts of these stones. We create interesting colour combinations, such as pairing kunzites with aquamarines or morganites with corals.”