Importance of Education in Family
Businesses of Gems and Jewellery
Industry

India is well known for its rich history and cultural heritage of Gems and Jewelry sector. With
creative craftsmanship and continuous innovations, there is a huge demand for Indian jewellery
worldwide. India ranks first among the top exporters in cut and polished diamonds and stands in
second place in gold and silver jewellery. According to the report from India Brand Equity
Foundation, in September 2021, the market size of the global gems and jewellery sector is likely to
expand to US$ 103.06 billion between 2019 and 2023. India’s gems and jewellery exports are
expected to reach US$ 100 billion by 2025.

Currently, there are more than 300,000 gems and jewellery players in India and employs over 4.64
million people. In India nearly 90% of Gems and Jewellery firms are family-owned. Family-owned
businesses are an inherent part of the industry and majorly contribute to the Indian economy. The
growth and success of the jewellery business mostly depend on retaining the trust and goodwill of
many generations. The traditions set by forefathers are followed in day-to-day functions to keep the
legacy alive.

The family businesses are transferred from generation to generation. Apart from maintaining the
business profit and reputation, family-owned businesses aim for smooth transition management and
ownership from one generation to the next. Few of the next generation players are confident about
the inherited skills and guidance from the superior family member. Some of them wish to upskill
themselves to face the challenges in the highly dynamic business environment.

In this highly competitive and transition-driven industry, upskilling or reskilling can contribute to the
success story of the current and upcoming generation entrepreneurs. The qualified and skilled
owner can understand the business better and efficiently improve the business process. They bring
out superior quality products due to the understanding of products and market dynamics.

Education in the field of gems and jewellery will help the young entrepreneurs to retain or improve
the existing business with the proven path within the industry. The gems and jewellery industry has
predominantly been an unorganized sector and requires more young entrepreneurs to involve in the
business to retain and excel the family business. International Institute of Gemology (IIG) aims to
upskill the aspiring entrepreneurs, gems and jewellery enthusiasts to make it an organized sector.
The awareness and knowledge about the subject can efficiently streamline the business.

International Institute of Gemology, Formerly known as Shreeji Rajendra Diamond Classes-
established in 1965 by my father, Diamond Cutting expert, Mr Kantibhai Desai – a thought leader and
a pioneer of gems and jewellery education. IIG is one of the top institutes in the shining world of
Gems and Jewelry now. Mr Kanti Desai started his journey with well known K Hiralal and company and became an expert in manufacturing and cutting diamonds. He exhibited excellent work and proper knowledge transfer to the younger generations.

If we look back, the inspiring journey of SRDC to IIG motivate us to continue our journey towards
success in the field of education in the gems and jewellery sector. Established in 1965, Mr Kantibhai
Desai gradually achieved his first milestone in the 1980s by introducing Polished Diamond Grading,
Gemology and jewellery design courses to contribute to the industry in an organized manner. In
1995, SRDC became the first private diamond jewellery registered institution.

From transferring the knowledge to family members to creating a learning platform for more than
100000 gems and jewellery enthusiasts, IIG has come a long way.

IIG now offers graduate courses, professional courses and master courses in an array of gems and
jewellery sectors such as,
● Gemology
● Diamond
● Jewellery Designing
● Jewellery CAD
● Jewellery Management

You can visit our website here to know the details of the courses. The list of courses from IIG is given
in the image below:

Along with the skill-based courses, IIG also makes young entrepreneurs industry-ready by
merchandising courses. IIG believes in quality education by providing hands-on experience in
grading, identifying gemstones, pricing, packaging of diamonds and gemstone jewellery.

The vision of IIG is to enhance the knowledge and bring out the best gemologists, diamond graders
and entrepreneurs. IIG also aims to empower youth entrepreneurs to make gems and jewellery
industry reach globally.