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Source: KPMG
MIDDLE EAST - 9%
JAPAN - 4% ITALY & UK - 3% REST OF THE WORLD 46%
Source: KPMG
INDIA
Products are varied being typical of the regions due to diverse ethnicity. Old communities: making jewelry items for centuries.
In contemporary India: growing numbers of fashion jewelry designers who inculcate modern design technology. Works of traditional artisans is more in demand and the product designs cannot be replicated even by the use of modern technology.
In modern times Indian jewelry reaches far and wide to different countries of the World. Indian jewelry can now is bought online thanks to the Internet.
Source: KPMG
INDUSTRY INSIGHTS
Highly unorganized & fragmented Mainly Family owned business about 95% Organized players 4%
CAGR of around 13 per cent during 2011 2013. Exports to grow by 30-35 per cent in 2011-12 due to the revival in demand in the international markets.
History:
1st to start making jewellery from minerals and metals. 1st to introduce diamond to the world.
CURRENT:
Advantages:
ECONOMY
Contributes to 15% of total exports. Provides employment to 1.3 million people directly & indirectly.
INDUSTRY STRUCTURE
Sourcing
SEZ ( Special Economic Zones)
GOLD
Processing
EPZ ( Export Processing Zones)
DIAMOND
Manufacturing
Selling
SEEPZ ( Electronic Exports Processing Zone)
Main Products
Significant reserves of Gold, Diamond, Ruby & other gems in Maharashtra, MP, Orissa, Chhattisgarh, Bihar & Andhra Pradesh.
GOLD
Undisputed single-largest Gold bullion consumer. India owns over 18,000 tonnes of above-ground gold stocks worth around US$ 800 billion. Jewellery demand in India grew by 36 per cent to 184.5 tonnes in the third quarter ending September 2010.
Gold imports stood at US$ 21.2 billion during the period April-November 2010. In the world official gold holdings ratings, India stood at 11th position with 557.7 tonnes of gold reserve as of October 2010 (WGC)
Source: WCG
DIAMOND
Worlds 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. Surat is India's diamond processing hub, contributing over 80 per cent of the country's diamond processing industry with annual revenue of around US$ 13.03 billion. It is the third largest consumer of polished diamonds after the US and Japan.
PLATINUM
Platinum jewellery has gained momentum in the past few years not only worldwide but also in India. As per the Platinum Guild International (India), the number of outlets selling platinum jewellery increased from 12 in 2000-01 to over 300 currently. It is predicted that the number of outlets selling platinum jewellery would increase to around 1,000 outlets in the next 2-3 years. Most platinum jewellery manufacturers are targeting 2040 years age group consumers with high disposable income.
COSTUME JEWELLERY
The current global costume jewellery and accessories market is estimated at US$ 16.3 billion, of which India only exports around US$ 53 million. Huge opportunity area for the Indian costume manufacturers. The Indian costume jewellery market is also witnessing growth in the international market, as per the Export Promotion Council for Handicrafts. The industry body further stated that the Government is also working towards formulating an international compliance code for manufacturing costume jewellery.
EXPORTS
TOTAL
Rose to US$ 23.5 billion during April-November 2010 from US$ 17.0 billion. 38.25 per cent growth in the total gem and jewellery exports.
DIAMOND
Rough diamond exports stood at US$ 620.95 million. Cut and polished diamond exports posted a growth of 52.76 per cent with US$ 16.4 billion. (April-November 2010).
COLOURED GEMSTONES
US$ 19.16 million reflecting a growth of 23.85 per cent in November 2010
Source: GJEPC
TIE UP
GOVERNMENT
In a move to boost the industry, the government has formulated new rules for faster clearance of import and export consignments of specific goods including jewellery and gems. The government has incorporated some other measures like providing interest subvention of two per cent to labour intensive export sectors and duty drawback facilities, in order to promote gems and jewellery export.
GJEPC initiated IIJS Signature to promote India as the preferred source for jewellery and eventually build brand India'.
All India Gems & Jewellery Trade Federation (GJF) recently held the first of its kind leadership summit for the jewellery industry in an effort to corporatize the ways of working and streamlining policies.
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