Post Covid pandemic diamond market is booming: Stakeholders

Panaji: Post Covid 19 pandemic and subsequent lockdown across the country, the diamond market is booming as people have got disposable income. Though was hiccup for a while during the lockdown but once the unlock process started the market opened up and demand started getting momentum, according to industry stakeholders.

Speaking to UNI, Tehmasp Printer, Presideng and Managing Director, International Gemological Institute (IGI), an internationally recognised diamond and fine jewellery certifying authority, said, “Last year was a beautiful year, everyone was interacting, bonding with their families but there is a flip side to it, everyone was at hold, it is a change for all. Everyone was taken up from their comfort zone, people started evolving. First few months were a total shut down and then from June onwards everything was covered up. Post pandemic the diamond industry is rocking!”

Arvind Soni from Mahavir Dhanwar Jewellers, Kolkata, said from March 2020 to June 2020, there was impact of pandemic but after that stores were opened.

“However, it took two to three months to come out of the shock. Now with marriage season being there, people coming out and travelling purchases are happening. People from 400 to 500 km of radius at Kolkata are coming for purchasing,” he said.  

Abhishek Sand, Co-founder and Director, Savio Jewellery, Jaipur, said the pandemic worked in both positive as well as negative way.

“Our's was positive side because we worked on the weakness we had, wherever we were falling short, our software, our networking, our sales team, our training process. We worked largely on our weaknesses during the corona period and from Diwali there was no looking back because we are better in performance and the market has grown really well,” he said.      

Similar views were expressed by Kaushik from Suman Jewellery, Coimbatore. 

He said, “Post covid people have started showing interest in buying jewelleries. Market is opening up slowly. As vaccine is out people are coming out. NRIs too are coming for purchasing. People are looking at what is exclusive in your store. You have to be out of the box. The industry is getting organised which is a very good sign.” (UNI)