The diamond industry is witnessing a resurgence, with a 10% rise in prices driven by increased demand from markets like the U.S., Europe, China, and India. Tier-2 and tier-3 cities in India are contributing significantly to this renewed demand. Experts predict diamond consumption will grow by 15-20% in 2025, particularly for smaller-sized stones.
A key driver of the industry’s recovery is the work of socially responsible trade bodies. The Gem & Jewellery National Relief Foundation (GJNRF) has been pivotal in supporting artisans and ensuring their welfare. In collaboration with global organizations like the Gemological Institute of America (GIA) and Anglo American Foundation, GJNRF has provided aid during crises, including the distribution of grain kits, healthcare support, and school fees for underprivileged students.
Healthcare Initiatives like the Swasthya Kosh program by GJEPC have impacted over 8.45 lakh lives, while the Parichay Card scheme offers free health insurance to artisans. GJEPC also provided medical insurance to 42,000 workers in Surat, covering ₹1,00,000 for each.
Beyond immediate support, GJNRF promotes preventive healthcare and educational initiatives, offering scholarships and financial aid to artisans’ children. More than 1,200 students have benefited from these programs. GJEPC has also launched mentorship programs to guide young artisans and secure their future in the industry.
Disaster Relief is another significant area of focus, with GJNRF providing extensive support during the COVID-19 pandemic. As the industry stabilizes, supply chain traceability and sustainability efforts are expected to boost consumer trust, ensuring a bright future for artisans and businesses alike.
