Latest news with #SusanJacques
The Hindu
26-06-2025
- Business
- The Hindu
GIA announces new initiatives for Indian market
Gemological Institute of America(GIA), which is into diamond/gem grading and analysis, education and research has announced the introduction of its Finished Jewellery Report & Coloured Stone Report service in India to provide details about the jewellery piece's components including the metal, gemstone characteristics, and existing engravings. These examinations are part of its gemstone identification and pearl services and focus on the gemological examination of the gems in the jewellery pieces, GIA said. The description in the Finished Jewellery Report will include metal verification and ranges for the clarity, colour, and estimated carat weight of D-to-Z diamonds that don't already have GIA reports for unmounted diamonds. The Jewellery Report will also include details of any current markings. For diamonds that have existing GIA report numbers, the specific grades will be detailed on the report with a link to GIA's Report Check for additional verification, it said. Beginning later this year, GIA said it will start using descriptive terms to characterize the quality of laboratory-grown diamonds and will no longer use the colour and clarity nomenclature that it has developed for natural diamonds. The Institute will continue to accept laboratory-grown diamonds for evaluation and identification, it said. The revised GIA description system for laboratory-grown diamonds will confirm that the submitted item is a laboratory-grown diamond and whether it falls into one of two categories, 'premium' or 'standard.' The categories will be defined by a combination of metrics related to colour, clarity and finish. If the man-made diamond fails to achieve the minimum standard for quality, it will not receive a designation from GIA. Until the revised descriptive system for laboratory-grown diamonds is finalized, the current GIA services for laboratory-grown diamonds will continue to be available, it added. 'More than 95% of laboratory-grown diamonds entering the market fall into a very narrow range of colour and clarity. Because of that, it is no longer relevant for GIA to describe man-made diamonds using the nomenclature created for the continuum of colour and clarity of natural diamonds,' GIA said. This change will help consumers understand the important differences in the two products' origin, ensuring their confidence and enabling them to make informed and educated purchase decisions, it said. Susan Jacques, President & CEO, at briefing in Mumbai reiterated the Institute's commitment for integrity and independence. She said that GIA India would maintain a steadfast focus on its mission to uphold trade & consumer confidence in India's gems and jewellery business at a time when there is a lot of confusion. GIA also named Pritesh Patel, as its new President and Chief Executive Officer, effective August 4, 2025. He holds a Master of Business Administration from the Marshall School of Business at the University of Southern California. He will be responsible for operational strategy, planning, developing and implementing innovative solutions.
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Business Standard
26-06-2025
- Business
- Business Standard
GIA to expand Indian offerings, revise grading for lab-grown diamonds
Gemological Institute of America (GIA) will continue to add new services to the Indian market to ensure that consumer confidence in gems and jewellery remains intact. 'We certainly understand the criticality of how India's retail market is growing, and as our mission is to ensure consumer confidence in gems and jewellery, we will continue to add new services as required to ensure that confidence remains,' Susan Jacques, president & global chief executive officer at GIA told Business Standard. Jacques, however, did not elaborate on what services are expected. 'I can't give you definitive plans, but we certainly have continual conversations about what our presence needs to be and where. In education, we have obviously a different plan than for laboratory services, but we see great opportunity in coloured stones,' Jacques said. She also added that GIA has introduced pearl services as well in the Indian market. 'We don't necessarily need to enlarge our footprint to provide our services. As India was a diamond dominant, and our clients who submit for our services in most cases are not necessarily the retailer, they're the manufacturer. Being present for diamonds in India was extremely important, and we came early,' she explained. While talking about emerging trends, she said that in the US market, a lot of people are choosing different cuts for diamonds than previous generations. 'We're seeing a huge shift towards fancy cut diamonds versus a traditional round cut. We're seeing people aspiring to have a coloured gemstone for an engagement ring. As trends evolve and as the consumer preferences change, we adapt to the necessary services we can provide,' Jacques said.
