Carol DSouza

Business opportunities in the gems and jewelry industry

Is a jewelry business a profitable business in India?

As per reports, India’s gems and jewelry sector is thriving today. This sector contributes around 7% to India’s GDP. Being a labour intensive profession, this sector employs over 4.64 million employees; which is further estimated to reach 8.23 million by 2022.

Well, the effects of Coronavirus are known to each of us and this industry too has suffered the consequences of this deadly pandemic. However, jewellers and business owners have gotten back into the game with newer business models that cater to serve the needs of customers during this time. The beauty of the gems and jewelry industry is that the demand for these products is always increasing, because it directly caters to the need of an individual to look a certain way and express through accessories and adornments. It is eventually a part of the luxury industry.

Practical jewelry education gives you the power to be independent and start a business on your own. Training for the jewelry industry could be versatile, depending on your interests. Entrepreneurship is celebrated, especially post pandemic, since it provides individual security, freedom to explore, and bring your own ideas to life.

Let’s look at some of those entrepreneurial ideas existing in the gems and jewelry industry.

Diamond Merchant/Trader

Diamond trading is a niche field which, while lucrative, is difficult to break into. Those with a zest for a beautifully cut diamond will find the diamond trade rewarding financially and emotionally. A diamond dealer buys directly from a diamond mine owner or from wholesalers and distributors and sells the product to a diamond buyer. Diamond trade can refer to trading of both rough and polished diamonds. Both these markets have their own niche trading terms and complexities. Once you have established yourself inside the trade, the diamond market is extremely lucrative with several high value orders and purchases with good trading margins.

You must pursue practical training in diamond grading, assortment, valuation and gain knowledge of trading and exports in your diamond course. By pursuing a practical diamond training at J K Diamonds Institute, you save years of struggle of understanding the diamond industry.. You must possess extensive knowledge of the stones, how they are made, what makes a good one, what makes a bad one by identifying diamond grades, and how much they are worth. Membership in professional organizations is often necessary for reputable contacts, a must for those wishing to foster the growth of ethical diamond trading.
At JK Diamonds Institute, you are not only drilled with the practical knowledge of diamonds, you are prepared to step out into the industry and use your practical knowledge to achieve success in the industry. To help you build a chain of networks, JK Diamonds Institute gives you access to the large database of Alumni who are renowned entrepreneurs and successful individuals in the gems & jewelry industry.
In this course, you’ll not just study the value and properties of a diamond but also the ways to set up your own business and strategies to scale your business. So, the prerequisites of this course are- a strong desire to learn and a keen interest in gems and jewelry.

Jewelry Manufacturer

To understand jewelry manufacturing- the process of manufacturing and setting up a fully functional business, it is crucial to be trained in using the CAD software. This will help you understand the different kinds of setups required for manufacturing different types of jewelry. In order to put system and quality checks in place, technical skills are essential. In this business one needs to monitor whether the workforce is efficiently managing jewelry at its optimum level.
Jewelry manufacturing is a lucrative business with high profit-margins. The only condition is that your designs must be fresh, trendy, and attractive. Manufacturers employ a variety of jewelry career positions. Sales representatives and business owners often report that their biggest challenge is time management, seeing that the day’s tasks get done while making time for the planning and strategizing to meet long-term goals. But success brings the great satisfaction of seeing your merchandise in stores across the country, and the private reward of working with a product you love, one that brings people beauty and joy.

An entrepreneur is capable of setting up a jewelry factory or workshop depending on the scale of production they want to commence. A jewelry manufacturer will have to initially choose the niche- which jewelry market they want to cater. It could be diamond jewelry, fine jewelry, gold jewelry, fashion jewelry, platinum jewelry, etc. They will have to hire the requisite skilled workforce either in-house or on contract basis for jewelry making, including product developers, i.e. CAD and Manual jewelry designers, Operators, artisans among others.

Skills required:
  • CAD / CAM knowledge
  • Leadership skills
  • Team management skills
  • Self-motivated individuals
  • Time management skills
  • Adept in Technical aspects
  • Quick learners
  • Aware of current affairs and fashion trends

Independent reps are self-employed and develop a regular clientele to whom they sell merchandise from a variety of jewelry manufacturers.

Jewelry Wholesaler

Industry middle men who sell large quantities of jewelry-related goods to retail merchants rather than consumers are jewelry wholesalers. Working as a wholesaler can mean selling finished jewelry, machines and tools or gems to retail stores or to other dealers and distributors. Wholesale companies range from tiny one- or two-person offices to large, national and international firms.

Jewelry wholesalers are skilled merchandisers. They have a knack of what the end user of jewelry wants through data gathered from their retailer networks. They create attractive collections of jewelry through manufacturers and jewelry designers and distribute to the retailers. The wholesale business works on reorders from these retail networks.

Skills required:
  • Knowledge of Diamonds, gems and metals

  • Networking skills

  • Strong Jewelry merchandising skills
  • Persistent
  • Good with numbers and calculations
  • Up to date with trends

Freelance Jewelry Designer

Freelance jewelry designers can be of two types. Manual designers, i.e. the creative side of designing who create unique designs in sketch and on the other side are CAD designers that understand the manufacturing of such designs and create a 3D model for manufacturing purpose.

Jewellery designers design and make jewellery using a variety of materials, including gold, silver and precious stones. You could either produce designs for mass production, make jewellery in small numbers or create bespoke pieces commissioned by a client.

As a self-employed jewellery designer, you'll need to:
  • hold consultations with commissioning clients
  • discuss a client's range of options and formulate original ideas
  • sketch out ideas, sometimes also creating computer-aided design (CAD), to help the client visualise the finished design.

Skills required:
  • A certified course in Jewelry designing (manual and CAD)
  • creative thinking and vision, to produce new ideas
  • practical application to produce a piece which is desirable in the marketplace
  • practical ability to work with tools and materials, such as metals and gemstones
  • drawing and computer design skills to produce designs
  • dexterity, attention to detail and good hand-eye coordination
  • organisation and time-management skills and the ability to work to deadlines
  • commercial awareness and the confidence and temperament to be successful in the business world
  • the ability to market yourself and your work
  • skills in negotiation and persuasion when dealing with suppliers and buyers
  • a commitment to - and passion for - your work.

Jewelry Retailer/E-commerce

The owner of a jewelry store is a jewelry retailer. You can establish your own jewelry store and work on creating a brand in the long run. E-commerce is another division for jewelry retail which has gained strong momentum during the pandemic. The jewelry world has changed significantly after the COVID-19 virus outbreak. Today, consumer behaviour has changed according to the situation and therefore, jewelers cannot resort to the conventional methods of selling. For this reason, J K Diamonds Institute has curated a Jewelry Retail Business Masterclass which not only helps you get started with your own store but also learn and be up to date with market trends that help you build strategies to scale your business.

Skills required:
  • Strong Quality check in jewelry

  • Personal selling
  • Excellent communication skills
Digital Marketing for e-commerce
  • Knowledge of the market
  • Expertise in understanding diamonds, gemstones & precious metals
  • Ability to build strong relationships
  • Understanding consumer behaviour
  • Have an overall understanding of the business


A gemologist, also known as a jeweler or gem expert, works with and identifies precious stones and gems. The main tasks of a gemologist are carefully studying certain gems and stones, using microscopes and other magnifying equipment, and determining the gems’ make, value, and authenticity and being able to purchase them at the right price. A gemologist can get into the business of gem trading, gemstone studded fine jewelry or fashion jewelry. The scope in each is massive.

Globally, there is a huge market for fashion jewelry and gemstone studded fine jewelry since these are more economical and well suited based on fashion trends. In India, apart from the global trends, there are several beliefs surrounding birthstone, healing properties of these mesmerising gems, such that the demand has skyrocketed.

These gemologists must be genuine in their profession and inform customers about the quality of gems and advise them about which pieces suit them the best and the reasons behind it.

Skills required:
  • A certified course in Gemology
  • Good hand-eye coordination
  • Knowledge of microscopes and tools
  • Adept with sophisticated instruments
  • Researcher
  • Curiosity to explore and learn

Gems and Jewelry exporter

India is the largest manufacturer and exporter of cut and polished diamonds. It is also the 4th largest jewelry exporter and among the top exporters of colored stones. This only gives you a small gist of the scope and opportunities for gems and jewelry exports.

Various products are exported from diamonds to diamond jewelry, gemstones to fashion jewelry, gold and silver jewelry to platinum jewelry, the demand for these luxury products has been rising.
With starting an export business, comes a great deal of responsibilities. A gems and jewelry exporter is expected to be well-networked. And for this purpose, JK Diamonds Institute gives its students an opportunity to access their well-knit network of jewelry entrepreneurs and specialists. Moreover, it is essential that a gems and jewelry exporter is a good communicator and is well aware of current affairs.

There are several more evolving opportunities within the gems and jewelry industry that can boost your entrepreneurial journey. The only thing missing is to get started. Let's go! Learn, Lead, Inspire!