Dazzle of diamonds bedecks Ahmedabad

Ahmedabad has emerged as the first city in the country to have touched the three-digit mark as far as growth of diamonds market is concerned.

Devika Gidwani, director of Diamond Information Cell of Diamond Trading Company (DTC), claims that Ahmedabad has left behind Hyderabad and the Delhi-Punjab belt by registering an accumulative growth of 112 per cent in the last three years.

Talking to Business Standard, Gidwani said, "Based on our information derived from the sales of DTC, Ahmedabad is the fastest growing market in the country and has left behind Hyderabad and Delhi-Punjab belt on the second and third positions. The city's accumulative growth in the last three years during 2003-06 was 112 per cent."

Gidwani was in Ahmedabad to promote DTC's two new brands: Gift a diamond and Forevermark.

The forthcoming month of December will provide a major boost to diamond sales in Gujarat as well as various parts of the country, when the NRIs flock to the state. Industry experts say that the sales of diamonds will double during this period.

"A majority of non resident Indians consists of Gujaratis and they visit the state during the month of December, which is co-incidentally the marriage season also. NRIs prefer to buy diamonds from Ahmedabad because in India they get 67 per cent of its true value ie, they get 67 per cent of more quality diamond when they buy from India," she said.

President of Gems and Jwellery Trade Council of India Shanitbhai Patel said more and more people, especially middle-class, are coming forward to own a diamond, which is now available in the price range of Rs 5,000 to Rs 50,000.

Moreover, 37 sightholders, authorised by DTC to carry out export-import of raw and polished diamonds in the country, are also promoting their own smaller brands, which has made a big impact.

Around 70 percent of these DTC-approved sightholders are from Gujarat and have operations in Mumbai also, he said.

Former president of Surat Diamonds Traders Association Chandrakant Sanghavi said marketing and promotional campaigns during the NRI season boost diamond sales. Sanghavi's diamond brand Sangini is also a DTC-approved sightholder.