By N. Lothungbeni Humtsoe
New Delhi, May 31 (IANSlife): Gone are the days when diamonds were a woman's best friend. Rare and exquisite gemstones have paved their way to the future. Not only women but people from all walks of life choose to wear gemstones either for aesthetic values or their spiritual and healing properties.
The traditional engagement rings are slowly being replaced by gorgeous gemstones such as Sapphires, Ruby, Emerald, Turquoise, and Amethyst. Most brides today prefer rings with pop-up colours instead of all-white or all-yellow. Celebrities from Aishwarya Rai Bachchan to Blake Lively wear coloured gemstones not only to serve sentimental and astrological purposes but as a luxury style statement too.
Gemstones, Royals and sentiments
In the past, Napoleon bought an elegant sapphire ring for Empress Josephine. Even today, Royals have not shied away from expressing their love for gemstones. Duchess of Cambridge, Kate Middleton wears the same Sapphire studded engagement ring that once decorated late Princess Diana's hands. The ring is well above half a million dollars today, but no one can put a price tag on the sentimental value it holds for Prince William and his family.
Gemstones as style statements
The growing popularity of gemstones can be witnessed clearly as many celebrities now use gemstone jewellery as style statements. This clearly indicates that gemstones have found their niche in the lifestyle and fashion market. Bollywood actress Deepika Padukone was seen wearing a Rubies necklace during fashion weeks. Rubies are known for their lovely colour and astrological benefits. Similarly, Kareena Kapoor can be seen wearing a Coral and a Pearl ring. Her ring has been captured in many movies, clearly indicating that she keeps them even on sets.
The legendary tale of the resurgence of Amitabh Bachchan's acting career is a household story. Still, even today, Big B can be seen wearing his trusted Neelam ring along with a Columbian Emerald (Panna ring), suffice to say that his career and fashion game is still on point.
Growth of gemstones market
With more and more youngsters ditching the traditional diamond rings and opting for brighter or deep coloured stones, the demand for gemstones has increased exponentially in the last few years. Wedding seasons or not, the gemstones market is growing at a rapid pace. The growing demand for gemstones has effectively revolutionized the market, so much so that from traditional jewellers to global brands have started investing in gemstones.
The Indian Gems and Jewellery sector contributes 7 per cent of the country's GDP. The ongoing global pandemic has affected almost every business, and the gemstones market is no different. From April to June last year, there was a drastic decline of 70 per cent in the exports market, but with the economy reopening in the United States, Europe and China, revival and recovery seem a lot more plausible than before.
Gemstones -- A successful investment
The Gem and Jewellery Export Promotion Council has proposed reducing import duties on cut and polished diamonds and other gemstones to 2.5 from 7.5 per cent to double the export of gems and jewellery pieces to $70 billion by 2025. People have started buying gemstones as an investment as gemstones are scarce stones, so they do not depreciate and thus remain a sound investment throughout.
The simple demand and supply method is working for the growing gemstone market. Since more and more people are preferring gemstones, the market is currently offering vast growth opportunities. To become successful in investing in this volatile market, one must have an excellent eye to choose the authentic ones. It is also highly advisable to always go for brands that provide certificates from verified sources.