Released on: September 30, 2008, 5:14 am

Press Release Author: bharatbook

Industry: Apparel & Fashion

Press Release Summary: Bharatbook.com launches a latest report which gives a detail
information about "Indian Gems & Jewellery Market"

Press Release Body: Bharatbook.com added a new report on "Indian Gems & Jewellery
Market" (http://www.bharatbook.com/detail.asp?id=80690)


The Gems and Jewellery (G&J) market essentially comprises of sourcing, processing,
manufacturing and selling of precious metals and gemstones, such as, Gold, Platinum,
Silver, Diamond, Ruby, and Sapphire etc. The G&J market is a significant contributor
to the Indian economy, based on the size of the domestic market and through its
contribution to the country’s exports. India is the largest consumer of gold (around
20 percent of global consumption) and also the largest diamond processor (around 90
percent by pieces and 55 percent by value of the global market).

India’s G&J industry is highly unorganized and fragmented with 96 percent of the
total players being family owned businesses. The gold processing industry has around
15,000 players, with only 80 having revenues over USD 5 million. India is also home
to around 450,000 goldsmiths, 100,000 gold jewellers along with 6,000 diamond
processing players and 8,000 diamond jewellers.

The value chain of the industry starts from sourcing and mining of the metals and
extends to jewellery retail. While India is not a major miner of previous metals and
stones, the country’s inexpensive and well skilled workforce makes it a world leader
in processing of diamonds. The country’s jewellery retail sector is also expected to
evolve with a shift among consumers towards branded jewellery, driven by greater
quality consciousness.

There are a few major players in the G&J segment, with Rajesh Exports being the most
dominant name. Other key players in the field include Gitanjali Gems, Suhashish
Diamonds, Su-Raj Diamonds, Vaibhav Diamonds and Tanishq. Many of these players are
focused on developing strong brands, large retail operations, strengthening their
core manufacturing operations, and building a strong international presence.

India’s large population and rapid economic growth offers significant opportunities
for growth of the industry. The emergence of jewellery retail chains provide
customers with convenience and assurance of quality. The entry of foreign players is
also likely to increase competition and provide consumers with greater choice. Apart
from the above, there are other factors that contribute to a favorable outlook for
the industry.


For more information, kindly visit - http://www.bharatbook.com/detail.asp?id=80690



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