The Indian diamond industry is growing at a fast pace and like most traditional industries it is realizing that one cannot avoid moving the trade to the virtual world - the Internet.
Manufacturers and traders are selling diamonds online using 3D images and videos, pushing them to find an edge over the competition. Looking to cash in on this growing trend, Israel-headquartered Segoma Imaging Technologies that provides 3D imaging solutions for diamond traders is exploring possible collaborations with Indian vendors to simplify the process for Indian diamond traders and manufacturers.
The Indian Diamond market is huge accounting for 80% of the global diamond manufacturing power and is increasing every year. Segoma’s with its services will be looking to connect Indian diamond suppliers to the global diamond and jewelry industry.
“Segoma’s vision is to help diamond manufacturers from around the world to sell more diamonds, faster and more efficiently. Demand for Segoma’s services to growing extremely fast, the biggest challenge is to answer this increasing demand at every location across the globe,” said Litan Yahav, CEO, Segoma Imaging Technologies.
Segoma has established itself as the one of the best in diamond imaging. With its innovative diamond trading platform it offers its customers a one-stop-shop solution for photographing stones and understanding the competitive advantage each supplier has over their competitors. This is done using tools that have not yet been seen in the diamond industry - Such as price comparison, inventory recommendations and real life online diamond comparison to increase sales and efficiency.
A new technology has revolutionised the way diamond business is being carried out in the diamond hubs of Surat and Mumbai. The new technology developed by Israeli entrepreneurs, photographs 3D images of diamonds for the display and sale of diamonds and sends them online to global buyers. This not only saves time and money but gives an opportunity to Indian diamantaires to increase their sales.
“In India Segoma has tied up with the diamond certification body, International Gemological Institute. Since the facility was set up in Mumbai more than 4,00,000 stones and jewelry items have been photographed and billion dollars worth of stock has been sold,” said Dharmesh Padmanabhan, Country Head, Segoma Imaging Technologies.
Segoma provides advanced photography services with innovative and unique technology that precisely and reliably demonstrates all the properties of a diamond-colour, clarity, transparency and cut. The physical inspection of diamonds and jewellery is replaced by the photographs on the e-commerce platforms.
“We are supporting Indian diamantaires with the new technology we have developed. It provides advanced photography services with innovative and unique technology that precisely and reliably demonstrate old properties of Diamond- colour, clarity, transparency and cut. It provides a total visual impression as a substitute for a physical inspection,” Padmanabhan added.
Since the facility was setup in Mumbai and due to its huge success and increase in demand for photography services they are considering a center in Surat as well.
“The technology is amazing and has changed the business conducting pattern. They provide a 360 degree view for a perfect impression of the diamonds on the Internet trading arena, more than three billion dollars business has already been done,” said Yahav.