Gems and jewellery market is one of the fastest growing in the world, and in India as well. According to “Indian Gems and Jewellery Market - Future Prospects to 2011”, a report by RNCOS, highly skilled and low cost manpower, along with strong government support in the form of incentives and establishment of SEZs has been the major driver for the Indian gems and jewellery market. The market also plays a vital role in the Indian economy as it is a leading foreign exchange earner and accounts for more than 15% of India’s total exports. Currently, the Indian market remains highly fragmented but is rapidly transforming into an organized sector.
“Indian Gems and Jewellery Market - Future Prospects to 2011” provides strategic insight into the gems and jewellery market in India. By analyzing historic and future aspects of the market, it highlights the potential growth areas in the market and gives am overview on the organized and unorganized) market for gems and jewellery in the country. It also evaluates the strengths and weaknesses of the market players to help new entrants frame their business strategies accordingly to gain competitive advantage.
Key Findings of the Report
- Various government incentives coupled with private sector initiatives are projected to drive the sales of Indian gems and jewellery sector at a CAGR of around 14% from 2007-08 to 2010-11.
- At present, the Indian gems and jewellery market is dominated by the unorganized sector, but the trend is set to change in near future.
- The organized gems and jewellery sector is anticipated to grow rapidly in near future, accounting for nearly 8% of the total gems and jewellery market by 2009-10.
- With its consumption pegged at nearly 20%, India remains world’ largest gold consumer.
- Branded jewellery segment is anticipated to grow at a much faster rate compared to other segments in near future.
- Various factors like cheap labor cost, better designs and manufacturing practices, are making the country an attractive destination for cutting and polishing of diamonds.
Key Questions Answered in the Report
- What is the current scenario and structure (both organized and unorganized) of the Indian gems and jewellery market?
- What are the emerging trends in the market?
- How government support and sophisticated technology are fuelling growth into the market?
- Which trade-related trends are ruling the market?
- What are the potential growth areas in the market?
- How the market will look like in future?
- What will be the future market structure (both organized and unorganized)?
- Who are the key players in Indian gems and jewellery industry?
Research Methodology Used in the Report
Information Sources
The information has been compiled from authentic and reliable sources like books, newspapers, trade journals, white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
Analysis Method
RNCOS industry forecast and analysis is based on various macro- and microeconomic factors, sector and industry specific databases, and our in-house statistical and analytical model. This model takes into account the past and current trends in an economy, and more specifically in an industry, to bring out an objective market analysis.
Our industry experts study the relationship between various industry and economic variables to ensure the required accuracy and desired check on the quality of data and information given in the report.
