India is currently the world’s leading market for diamond cutting & polishing, and is also the largest consumer of gold in the world. As a result, the gems & jewelry industry in India is currently witnessing a massive growth. This can also be attributed to the improved lifestyle & purchasing capacity of the consumers who now opt for diamonds, gems and other precious stones than gold or silver jewelry. This in-turn has increased the demand for efficient gems & jewelry testing facilities in India.
Although there were a mere handful of gemology labs in India, in recent times, things have improved quiet drastically. There are now a multitude of gemology labs being established in India, but authenticity with the lab reports & test results is a big challenge in India. Standing-out among the crowd through its highly efficient gemology testing services is Fortune Gems.
Founded in 2018 by Syed Imtiyaz, Fortune Gems has been offering a wide range of services pertaining to gems & precious stones that include Laboratory Services (verbal opinion on gemstones, gemstones identification and lab reports for the gemstones). The company also assists customers at their site as per their needs and requirements. “We ensure to give much attendance to every customer and try to keep them satisfied. We assist them in importing/ exporting any kind of gemstones and help them get their gemstones certified by globally accepted
standards such as GIA, GRS, GUBLIN, SSEF and AGS. We also search the market on their behalf if they require any kind of very rare gemstones like Kashmir Sapphire, Burmese Rubies, Columbian Emeralds, and Alexandrite.
Additionally, we also give them a Validation Report of the gemstone if it is found to be rare and authentic. This way, we ensure that much attendance is given to each customer and they are satisfied”, explains Syed, who has close to a decade experience the gemstones industry, Additionally, he has done his Graduate Gemology and Pearl Grading course from International Gemolological Institute, Mumbai, and possesses the ‘The Big Three’ certification from Gublin Gem Lab, Switzerland.
Dealing majorly with gemstones and diamonds, Fortune Gems offers a wide portfolio of services which includes sale, identification, certification, assessment, reporting, and all other services pertaining to gems and diamonds. Despite facing difficulties in sourcing advanced gemology equipment and high costs involved in their repair and maintenance, the company boasts of having high quality gemology equipment for grading and sorting. “When a new production method is introduced, all the previous advanced technology gemological equipment fail to identify the flaw. This is the major lapse our industry is currently facing now. Despite these challenges, we try to give our customers the best service we can give”, adds Syed.
When a new production method is introduced, all the previous advanced technology gemological equipment fail to identify the flaw
A majority of customers in India face problems with the resale value of gemstones & diamonds. While a few major players are offering resale value only in terms of next purchase rather than exchange for cash, Fortune Gems checks the gemstones for any damages or changes in proportion and condition, quotes the depreciation value for wear & tear, and even gives appreciation value if it is found to be a rare specimen.
An ISO 900: 2015 certified company, Fortune Gems is an account holder of GIA & IGI, and a member of the Gem & Jewellery Export Promotion Council (GJEPC) and Madras Jewellers & Diamond Traders Association. Speaking about the future roadmap of the company, the founder says, “We want to relocate to a major city and establish a new branch abroad. We are in plans to launch a Designer Gemstone Jewelry brand across the world and give-out the franchises of our company. We are also looking for investors and VCs who can support us in our growth journey and grow together”.
