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There a lot of things I like about the site, but some things strike me. The main things:
Add an intro text A really good way to make the user feel comfortable with is to give him a good description of what the site is about, what you can expect, etc. Just short. After that you guide them to the product page or contact page.
Add some reasons why I should choose you Most people just search google and see a lot of jewelry websites. So you should list some clear reasons how you stand out.
Change the text 'The Radiance of Trust'. Use that space more effective and say something like 'an online jewelry shop'.
Use white space. The content text is only about 5 px from the border. Make it at least three times more.
Change the oblique font. The font you used, for example for the navigation, looks quite cheap and that it not what a jewelry wants to look I think.
Use less content text Less = more. So less text under the Hotsellers!
Change position of search box to the right. Hope these tips are useful and tell me when you have a new concept :-).

thanks ,appreciate your clear feedback and we will work on points you have mentioned.thanks and rgds rajiv