The natural gemstones are made of organic matter that when undergoes certain treatment procedures and polishing can be used as ornaments or jewelry. The gem minerals are usually found in alluvial gravels and igneous rocks.
The global demand for diamonds and other gemstones are expected to rise in the forthcoming years due to its growing popularity in terms of aesthetics and the rising disposable income of the people. Also, the growing demand for diamond is resulting in rising costs. The major use of diamond has been accounted for engagement occasions. Rising prices has impelled people to opt for the other colored gemstones and is, therefore, propelling the popularity of the non-diamond stones. The physical attributes such as color, clarity, cut, and carat weight is some of the subjective qualities that may affect the value of the material. The manufacturers and vendors of these stones are keen on responsively sourcing these materials so that they can be termed compatible with the government’s norms and regulations, and environmental sustainability.
Production, cutting and polishing, jewelry manufacturing, and retail, often punctuated by trading between various actors have been identified as the key value chain structure of this industry. In India, handmade jewelry has always been in trend and its ethnic attributes have been in demand in various parts of the world, since ancient times. The mining industry is directly correlated with the gemstone business as it forms a major part of the key supply chain mechanism. The changing regulatory procedures of the World Diamond Council, regarding the gem trade conflicts and other criminal activities associated with it, governments are becoming more stringent in the certification and licensing processes for international trades.