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Innovation in the Indian Gems & Jewellery Industry
Towards the end of 2009 and the beginning of the ‘new normal’, for many industries, including the gem and jewellery sector, Innovation became the mantra.
By: Diamond World News Service
May 5 2010 6:36PM
Reference: 4917  

Diamond World discussed with a few leading personalities from the diamond and diamond jewellery manufacturing fraternity about their opinion on innovation and the Indian scenario. ATTRIBUTES OF AN INNOVATOR
Steve Jobs once said, “Innovation distinguishes between a leader and a follower.” How true, isn’t it? An innovator always stands out amongst the crowd and sets the rules for others to follow. So what it takes to be an innovator? Our Indian jewellery manufacturers lend their opinion to what it means to be innovative...

It All Starts from An Idea :
According to Yash Agarwal, jewellery designer and director of Birdhichand Ghanshyamdas Jewellers, “Innovation is a conceptualization of any idea. The idea has to click in your mind and you work towards it to innovate a thing under the society’s trends.”

Innovation Unrestricted :
Hemil Mody, CEO of the Gold Star Jewellery India and Jouel Sculpt Pvt. Ltd. feels that innovation does not confine to one single process during the designing, manufacturing and marketing of jewellery. For every process in the creation of jewellery, innovation has always had a different meaning.

The Mark of a Winner :
Citing Shiv Khera’s famous tagline, “Winners don’t do different things they do things differently,” Kapil Nevatia, director of Sunjewels states that while everyone manufactures jewellery, it is those who does it better and in a different matter that counts and it cannot be copied from company to company. It has to be self-grown with all the intellectual abilities of your individual team members who contribute their ideas and it comes in different decisions, different patterns. Innovation can be any aspect of the industry, be it in sales, marketing, production, process. It can be anywhere.

Out of the Box Art :
Hemant Shah, Chief Marketing Officer & Director of Hammer Group, offers a more comprehensive explanation of the term when he says, “Innovation is doing things out of the box. Letting your mind do things that seem ridiculous at first thought – maybe only because we have been taught that such a thing does not happen. But that is what real new inventions or products are coming from. If we do what every one else is doing, we will not be able to “Discover America” as they say. “ He adds, “Innovation with respect to our jewellery is the act (I would prefer to call it the profound art) of creating jewellery that breaks all the chains of the traditional jewellery norms or concepts and goes beyond – be it in the form of material, product concepts, product categories to using unconventional design/material/manufacturing techniques.”

A 360° Affair :
Calling innovation a 360°affair, Tejas Soni, Chief Operating Officer of KT Group quotes, “Innovation is the only stuff which helps you to reinvent your company again and again. It is an ongoing process and can be in terms of quality, segments, logistics, marketing, customer service. It is more or less a 360° affair.” He goes on to say, “Innovation is where product segment and the style of the product have to change. Innovation should ease the life.”

Because of recession aftermath, the consumer is more discerning in his or her purchase of luxury goods. The desire for the new and hatke (different) look in attires and accessories is highly prevalent amongst the urbane and new generation. While gems and jewellery manufacturers pool their resources to bring ‘out of the box’ jewellery creations and fancy cuts in gemstones, a question arises how open is the end consumer to jewellery creations beyond the usual motifs and designs? Hemant Shah avers, “Innovation is not just using different motifs... it is about a concept... it is about the material... it is about the positioning... it is about the promotion. The end consumer is very open to innovation in all products - and jewellery is not an exception.”

A Matter of Presentation :
While consumers are willing to experiment with new jewellery, Yash Agarwal opines, motifs like flowers, butterflies, leaves, etc have not changed over the ages. Nonetheless, the way you present these motifs makes the design stand out and attract the consumer. For instance if a flower is presented in a normal way, it would look ordinary as compared to the same flower being presented in a different way making it look special and unique.

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Anish Kerkar
All talking absolute sense. Question is who shall bring the change? & When? so that others shall follow the success to bring out change.... am sure it is possible.
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