Sharp increase in demand for colored gemstones, reasons vary | Way of life
New Delhi: The gemstone and jewelry industry is currently experiencing a resurgence in demand, having suffered tremendous damage during the 2020 pandemic.
There are a variety of reasons why colored gemstones are always in demand. There are many explanations for this, which vary from person to person and even from place to place, ranging from their spectacular and lavish appearance to their Vedic and astrological properties.
Pawan Gupta, Director, PP Jewelers and Rohan Sharma, Managing Director, RK Jewelers share six differences in the demand for colored gemstones in India compared to overseas:
Middle class vs upper class: Overseas countries with large upper-class populations have long been recognized as potential markets. However, in recent decades the demand for colored gemstones has increased in emerging countries with the majority of middle and low income countries experiencing an increase.
There are many reasons contributing to the changing demand for colorful gemstones in countries like India. The impact of social media, the growing desires of the middle class for a luxurious lifestyle and an ever-improving standard of living are among those reasons.
History & Culture: It is more about the tradition and heritage of India, which has been passed down from generation to generation. Jewelry is traditionally considered to be of course, especially among women. Gold, gemstones and silver jewelry were once called “StreeDhan”, which meant “the possession of a woman”. This tradition of giving jewelry to girls in marriage is still practiced in many families today; However, today’s girls are more aware and actively participate in choosing the right jewelry for them, and the majority of modern brides prefer colored gemstones with the same value, if not more, but trendy appearances compared to jewelry. traditional gold and silver.
Cultural differences: Some of the main reasons to consider gemstone jewelry in overseas countries include their high financial potential or lavish appeal. In India, most of the public still believe that colored gemstones have Vedic powers that can help them align their chakras and stars.
Trends and fashion: India is still a developing country and not everyone is aware of current fashion trends, especially in luxury jewelry. Outside of the monarchy, the majority of Indians believe that gold and silver jewelry is still considered a valuable accessory or something that is worn in weddings and festivals as a symbol of wealth and prosperity.
However, as times have changed and mass communication methods such as social media channels, digital photography, and influencer trends have emerged, the world has shrunk. People are more up to date with all the latest trends and fashion across the world as the internet connects the entire planet. It’s like the whole fashion industry is in sync today. As a result, while colorful gemstone jewelry is currently popular among Hollywood celebrities, colorful gemstone jewelry is also popular in India.
Young demographics: Nowadays, younger generations prefer gemstones for a variety of reasons, ranging from following the latest trends and aesthetic reasons to awareness of the mining process and other related issues. India has one of the youngest populations in the world, which is beneficial for a variety of reasons, but it also explains why the demand for colored gemstones in India differs from that of other countries.
Bride Preferences: Weddings are a big part of the global jewelry buying demand. In India, a bride’s traditional wedding dress is a colorful or brightly colored lehnga or sari that looks stunning with heavy gold or colored stone jewelry. In contrast, a bride’s outfit for an international wedding is usually a white dress with a light and gorgeous diamond necklace that looks stunning.