In an exclusive interview, Nirupa Bhatt, managing director of GIA India and Middle East, talks about major trends that will play out this year, the potential of AI-based grading, the imminent launch of GIA coloured stone identification reports in India and much more.
For GIA India, what are the key advantages of exhibiting at IIJS Signature?
Over the years, IIJS Signature has emerged as an important trade show to showcase new jewellery collections. It helps manufacturers, wholesalers and retailers stay updated with new designs and plan their inventory for the upcoming year.
For GIA India, IIJS Signature gives the ability to connect with members of the trade interested in GIA’s diamond grading services and our education offerings. It presents a platform for us to connect with diamantaires and jewellery manufacturers, wholesalers and retailers to understand their challenges and understand how GIA can assist. We also get an opportunity to connect with midto high-end businesses, for whom the latest knowledge on lab-grown diamonds and treatments will be extremely beneficial.
Are trade shows a core component of GIA’s overall marketing strategy?
While GIA’s independent gem identification and grading reports and globally-recognised educational programmes are well-known in the industry, trade shows help us reach out to more and more members of the trade and spread awareness about the Institute’s mission.
Including IIJS Signature, GIA India participates in many trade shows across the country, including in tier-II and tier-III towns, to reach out to small and medium-size businesses. We also conduct complimentary seminars on various topics to share knowledge about the important aspects of the industry and help build consumer confidence in the gem and jewellery industry.
What opportunities does the Indian market present for GIA in the areas of grading and education?
The Indian market continues to remain the epicentre for the global gem and jewellery industry. Indian manufacturers produce more than 85% of the world’s polished diamonds in terms of volume, and I believe GIA India has contributed to this growth story. We have also helped exporters increase their online presence, explore newer markets and provide stones 0.18 carat and up with GIA’s globallyrecognised reports. Through professional gem and jewellery education from GIA India, students gain not just knowledge, but also the conviction to buy and sell confidently, and also convey the same to consumers.
Describe three major scenarios that will play out in the coming year.
One of the trends I see playing out this year is provenance. A growing number of consumers today wish to see the mine-to-market journey of a diamond. GIA is already working with mining companies, diamond manufacturers and retailers to help them tell that story.
Another trend I see is the creation of distinct markets for natural and laboratory-grown diamond jewellery. This will help ensure that everyone in the natural diamond supply chain invests in screening and identification of undisclosed laboratory-grown diamonds. Laboratory-grown diamonds give consumers another choice, as long as the transaction takes place with full disclosure. GIA is in a great position to help the industry through our Synthetic Diamond Grading Reports, the GIA Melee Analysis Service and the GIA iD100™ diamond testing device.
Also, as the Indian jewellery industry gets more organised and as regional and national retail chains expand, there is a crucial need for skilled professionals. Similar to B-schools – which ensure there is a decent pool of talented management resources available to businesses – GIA offers a mix of courses in gemmology, jewellery design, merchandising and sales for professionals to scale greater heights in the industry. Ultimately, a trained professional will have a far-reaching impact in earning consumers’ trust and confidence in the gem and jewellery industry.
Do you perceive automated AI-based diamond grading as a threat or an opportunity?
GIA has been involved in supplementing visual grading with instrumentation for several decades. The first GIA colorimeter developed was in the 1940s and we have continued to add more instrumentation into the grading process. As you are aware, we introduced GIA Facetware® a number of years ago that is integrated into measurement scanners that give a predicted GIA cut grade.
GIA will continue to add technology and automation to the grading process, but without a deep understanding of the GIA system, automation may lead to more consistency but not greater accuracy.
As the head of GIA India and Middle East, what short-term and long-term goals have you set for yourself?
As a public benefit, non-profit institute, GIA’s mission is to ensure the public trust in gems and jewellery. We remain committed to the mission by ensuring the highest level of integrity and accuracy in every report we issue, offering comprehensive education for students and professionals to succeed in the industry, pioneering cutting-edge research to identify practical solutions to gemmological challenges, and advancing development of instruments to determine the distinctive characteristics of natural, laboratorygrown and treated gem materials.
There have been requests from the industry to start offering coloured stone identification reports in India. Considering that India – one of the biggest cutting and trading centres for emerald and tanzanite – is a market with tremendous potential, we are already in talks and are hopeful of getting the necessary permissions to start the service. This move, I believe, will significantly aid the growth of coloured stone market in India.
We also work closely with national, regional and local associations to organise education seminars for trade members on various topics. This helps us share knowledge about important aspects of the industry, build consumer confidence and ultimately it supports the Institute’s mission.