There is a huge potential in loose stones as the market is booming: Dharamchand Jain, Founder of Supreme Gems and Arts International
Renowned manufacturer of supreme quality jewellery and loose, semi-precious stones, Mr. Dharamchand Jain, Founder of Supreme Gems and Arts International, shares his views about gemstones market and its potential.
Hailing from precious gems and jewellery family; serving the royal families of various states and countries, Founder of Supreme Gems and Arts International, Mr. Dharamchand Jain takes Jewel Trendz through his journey in the gemstones business. He says, “The legacy of serving the royal families gave me a wide canvas to interact with them and acquire the knowledge of gemstones.” He believed that each gemstone has a story which needs to be unwrapped’ and with this thought He established Supreme Gems & Arts International with a broad vision to spread India’s pride ‘Gemstones’ to the world. “People only know ‘Kohinoor’ but we have many more exclusive Navratna’s to discover and offer.”
Supreme Gems and Arts International specializes in the extremely rare gemstone – Kashmir Sapphire. “Apart from this we also specialize in Colombian Emeralds, Basra Pearls, Golkunda Diamond, Alexandrite and Antique jewellery. Alexandrite is a rare gemstone known for its colour changing characteristics,” tells Jain. The gems and jewellery offered by the company are soured from extinct mines having highest quality amongst Navratan’s. He adds, “We hold princely collection soured from the palaces. We also have antique swords, paan boxes, pens etc engrafted with precious gems in gold, which in today’s scenario have become collectibles. These makes us unique vis-à-vis other industry players.” Such products have helped Supreme Gems acquire clients like Rolex, Cartier, De Beers, Sotheby’s and also strengthen ties with the ‘King and Queen of Thailand’ and the ‘Maharaja of Jaipur’.
The potential of loose stones is getting better by every passing year on accounts of positive sentiments in the market. “Today, we have technology which makes the labour cost affordable for the masses to acquire the gems at ease,” states Jain. Further, social media is also creating awareness and spreading knowledge about the significance of gemstones. “As a result, customers have become smart and they know the difference of lab created gems and natural gems.” Though year 2016 saw lot of challenges with excise duty and a few stringent rules, Supreme Gems was unaffected by it. Jain tells, “It rarely had any impact on our business as we deal in high-quality luxury products in niche categories.”
Speaking about GST, he believes that establishing GST will make the unorganised gemstones industry organised in a credible way. “It will increase the market strength and will give equal opportunity in terms of business-to-business deals. It will be easy to have multiple vendors at the same time. Marketability will also increase due to equal distribution of products,” states Jain. However, implementation of GST will make it difficult for mature traders to adapt to new rules and regulations. “This industry works more on trust than papers and in my opinion the ‘trust’ factor will be ignored now.”
Founder of Supreme Gems and Arts International expects positive developments under PM’s guidance and the gemstones industry won’t be troubled much as it is a huge contributor to the GDP of our country. Looking at the positive rush in the market, Supreme Gems is expanding their product portfolio. Jain shares, “We will soon launch an exclusive watch brand which will be hand crafted and studded with exclusive gemstone collection. These will be first-of-its-kind watches that the country would experience.”
-Rika Aash Pathak