Premium Essay

Gem and Jewelry

In: Business and Management

Submitted By saileshkumar60
Words 1232
Pages 5
Gems and Jewellery

Last Updated: December 2010

Gems and jewellery form an integral part of Indian tradition. A legacy passed from one generation to another. The components of jewellery include not only traditional gold but also diamond, platinum accompanied by a variety of precious and semi-precious stones.

The Indian gems and jewellery sector is expected to grow at a CAGR of around 13 per cent during 2011 – 2013, on the back of increasing government efforts and incentives coupled with private sector initiatives, according to a report ‘Indian Gems and Jewellery Market Forecast to 2013’, by RNCOS.

As per the credit rating agency Crisil, the diamond industry in India is predicted to remain stable during 2010-11 due to improved prices and steady demand.

Gems and jewellery exports from India is expected to grow by 30-35 per cent in 2010-11, according to the Gem and Jewellery Export Promotion Council (GJEPC), on the back of revival in demand in the international markets.

Industry Structure

Although, the market is highly dominated by the unorganised players, with increase in consumer income and economic prosperity, the future of organised retail in India is very bright.

In its bid to enhance the market strategy, a gems and jewellery special economic zone (SEZ) sprawling over 40 acres with an investment of US$ 441.1 million is being planned to be set up by Gold Souk, the jewellery mall developer. The company plans to have residential apartments named Gold Souk City, apart from having gems and jewellery manufacturers from Thailand and Dubai who will open their units in India.

Gold

India is one of the largest bullion markets in the world. It has been until now, the undisputed single-largest Gold bullion consumer.

As per the study ‘Heart of gold' by the World Gold Council (WGC), a body of gold producers, India owns over 18,000 tonnes of...

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