The US$ 27 billion Indian gems and jewellery industry is the fastest growing jewellery market in the world. Recognised as the diamond polishing capital of the world, the country is gaining prominence as an international sourcing destination for high quality designer jewellery with global retail majors such as Wal-Mart and JC Penney procuring jewellery from India. The presence of highly skilled, low-cost labour enables India to design and make high volumes of exquisite jewellery at relatively low cost. The domestic jewellery market is pegged at US$ 16 billion, which includes gold, diamond, platinum and others.
The gems and jewellery industry in India is highly fragmented with a large number of domestic private sector players. The country has around 450,000 goldsmiths, 100,000 gold jewellers, 6,000 diamond processors and 8,000 diamond jewellers.
However, with consumer consciousness increasing, the future of organised retail in India is very bright. The organised sector of the gems and jewellery industry in India is estimated to grow at 40 per cent per annum to US$ 2.2 billion by 2010. The increasingly savvy Indian consumer is becoming partial to branded jewellery which is associated with better services, premium quality products and attractive exchange policy. The growing popularity of machine-made jewellery over traditional handcrafted jewellery is also spurring the growth of the organised retail segment.
The number of gold retailers in the country has increased by 40 per cent since the year 2000, with 150 domestic and over 65 internationally established brands. Faced with the changing dynamics, traditional jewellers are looking to jump on the "brandwagon" by investing in advertising and trying to build a presence in the minds of consumers.
India dominates the diamond processing trade with 11 out of 12 diamonds being cut and polished in India. India also dominates the gold and silver consumption globally with consumption of about 800 tonnes per annum. The industry provides employment to 1.3 million people.
About 15,000 tonnes of gold is held privately in India. Gold demand in the third quarter of 2009 reached 800 tonnes, or US$ 24.7 billion, according to the World Gold Councils latest Gold Demand Trends Report".
India is the largest consumer of gold jewellery in the world, accounting for about 20 per cent of global gold consumption.
India bought 200 metric tonnes of gold worth US$ 6.7 billion from the International Monetary Fund.
A small village town called Chavakkad in central Kerala, a southern Indian state, consumes 20 per cent of all gold sold in the country. It has more than 115 glittering gold jewellery shops.
Currently, UAE is the largest destination for gems and jewellery, accounting for 31 per cent of the total exports, followed by Hong Kong (25 per cent) and the US (20 per cent).
Diamond
Surat is Indias diamond processing hub, contributing over 80 per cent of the countrys diamond processing industry with annual revenue of around US$ 13.03 billion. In recent years, Dubai, being a port location, had developed into a diamond distribution centre in West Asia. According to industry estimates, 10-15per cent of Indias total polished diamond exports go through Dubai. The cost per carat for cutting and polishing diamond was US$ 10 in India as compared to US$ 17 in China and US$ 150 in Belgium. India is the largest resource hub in diamond cutting and processing. Low cost of labor involved in the production of finished diamonds has lured global attention, thereby resulting in the growth of the industry.
India is the largest diamond cutting and polishing centre in the world
It accounts for 60 per cent value share, 82 per cent by carats and 95 per cent share of the world market by number of pieces
It is the third largest consumer of polished diamonds after the US and Japan
The Indian gems and jewellery recorded exports worth US$ 2.56 billion in September 2009. The industry has witnessed an upturn since March 2009, and it expects exports to move up further during the upcoming festive season in the country.
Exports in segments such as cut and polished diamonds and coloured gemstones, however, grew 17 per cent and 31 per cent respectively. The UAE, led by Dubai, is the largest destination for India's gems and jewellery, accounting for 31 per cent of the countrys total exports.
Loading...
![INDIA - The legend of Jewels and ancient gemstones [HD] documentary by dionne ross part 2 of 3](//s.ytimg.com/yt/img/pixel-vfl3z5WfW.gif)
9:12
INDIA - The legend of Jewels and ancient gemstones [HD] documentary by dionne ross part 2 of 3by utubekhiladi6,324 views
Good video there.
aestheticdust 3 months ago
Every piece of a stone has its own history before it's made into jewelry...
Vixenvian 4 months ago
You talk about microscopy more than one time, but there is no microscopy in sight in this videos!!
ginofrater 4 months ago