MUMBAI (Commodity Online): Bharatbook has added a new report on Gems and Jewellery Market in India 2010. It is a consumer goods series. It gives export and the import structure of the Gems and Jewellery market in India.
Gems and Jewellery Market in India 2010
In India, jewellery is revered and valued as a treasure from ages, be it any festival or a marriage, the celebrations are incomplete without gold and silver ornaments. Being the biggest consumers of gold, the industry is set to thrive for a very long time.
However, the market is highly dominated by the unorganized players, but with the prospering economy and surging income levels, the organized segment and retailing of branded jewellery is fast catching up in the currently fragmented market which is worth USD 16 bn and shows huge potential for growth in the future.
The report begins with an introduction to the gems and jewellery (G&J) sector existent in India with a brief description of all the sub segments. It provides information regarding the prime destinations for G&J in India and their involvement in the value chain. The overview section indicates the total market size and growth, the segmentation of the jewellery market, the export and the import structure of the industry in India.
An analysis of the drivers explain the factors for growth of the industry including mass appeal and growing income among households, low cost and abundance of skilled labour, growing use of high-end technology, advantages of SEZs, changing consumer perceptions and preferences, and growing training institutes.
The key challenges identified encompass rising gold prices, competition from unorganized players, dependence on raw material import and emerging threat from other countries. Key trends identified include the growth in organized retail space, aggressive marketing and advertising, large scale shows and exhibitions, domestic players acquiring foreign companies, investments from PE firms and corporate houses entering the market.
The major government bodies regulating this sector have been described and the policies adopted by the government have also been analyzed including industrial policy, FDI policy, Kimberley certification process and hallmarking. The key initiatives of the government identified include tax benefits, import duty relaxations, provisions for exports and other initiatives.
The competition section provides an overview of the competitive landscape in the industry illustrating the share of organized and unorganized players. It also includes a detailed profile of the major players in the market including their financials and expansion plans. The key developments in the sector have also been highlighted.