Day 2 of IIJS Signature ended with some informative seminars

On Day 2, four seminars were conducted on various topics: ‘Presentation of Ice – Agenzia’; Synthetic diamonds – challenge or opportunity’; Understanding the “iDiamond” Generation; ‘Northrop Grumman :Maximize Performance & Lifetime, and Protect Your Investment’.

At the seminar organised to discuss the challenges and opportunities of synthetic diamonds, the panelists discussed at length all about the synthetic diamond industry, its challenges and the opportunities it may in future. Currently, for the natural diamond industry, non-disclosure of the synthetic diamonds is the biggest threat than the synthetic diamond industry itself. The panellists pointed out the need for transparency at every step of the diamond pipeline, which would in turn be translated to the consumers, who are losing interest in diamonds.

One of the panelists, Vijay Jain, MD of Orra, said that the natural diamonds have three things going for them. One is the proposition, other is beauty and the last is love. Synthetic diamonds may try to replicate the beauty and love but they would never be able to get the proposition that the natural diamonds have. Natural diamonds in regards to prices would go on appreciating with each passing year, while synthetic diamonds won’t get price appreciation. Rather there would be price fall over the years.

Sanjay Kothari, another panellist pointed out that both the industries can co-exist provided there is transparency from both the industries. As rightly put by the moderator of the seminar, Niurpa Bhatt, industry needs to follow ‘ethical business operations’ to have seamless existence.