Management of Jewelry

India has always been one of the largest markets for gold jewelry in the world. Traditionally, jewelry has either been purchased as an investment or for marriages. The jewelry trade is flung far and wide – India has about 25,000 licensed gold dealers and 450,000 certified goldsmiths. Almost every village can boast of at least one family of goldsmiths, having a long tradition in the craft. In India gold has held its importance as savings and investment vehicle. It is considered to be the second safest investment after bank deposits.

The Gems and Jewelry sector

The global market for gems and jewelry today, is pegged at US $ 85 billion with key markets having registered an average compounded annual growth art (CAGR) of 5-10 per cent in the last decade. This global market for Gold is estimated at 3300 tones. South Africa is the world largest producer of gold followed by USA n Australia. Together these countries account for 45 per cent of the World’s total gold production. India is the largest consumer of gold followed by the USA.

In the production of Silver the Americans have near monopoly – Mexico, Peru, and the United States are top three silver producing countries. Platinum is an extremely rare precious metal. More than 90% of all platinum supplies come from South Africa and Russia. With increased economic development the demand for the metal has grown at a faster pace than it is being mined. The United States is the world’s leading consumer of platinum overall, while China has emerged as the leading consumer of platinum jewelry.

Global market for gems and jewelry is pegged at US $ 145 billion. The diamond studded jewelry contributes close to 50% of the total demand. The plain gold jewelry contributes over 40% of the total demand and United States alone represents over 45% of total worldwide diamond jewelry sales. The United States, Middle East, China, India, Japan, Italy and the UK constitute close to 75% of the global demand for jewelry. Jewelry manufacturing and jewelry retailing constitute close to 75% of the jewelry value chain.

With the emergence of the working class in the urban areas, with the increased disposable incomes and with the exposure to the changing trends in fashion, the Indian woman is eventually beginning to look at jewelry as an accessory and as reflection of her personality. Today, it has become a lifestyle product and has finally moved out of the vault and is now a part of the wardrobe.

India consumes nearly 800 tones of gold accounting for about 20 per cent of the world gold consumption of which nearly 600 tones goes into making jewelry. According to The World Gold Council (WGC), total gold supply in the second quarter this year stood (Q2FY08) at 840 tons whereas, the demand was 944 tones. A study by KPMG reveals the Indian jewelry market to be worth US $ 13.5 billion in fiscal 2006-07 according for 8.3 percent of world jewelry

Along changes in the macro realities, another revolution is quietly coming into sharper focus of the industry watchers. In a market traditionally dominated by local jewelers and traditional heavy designers who offer limited choice brands. They have made an entry. They offer lighter trendier jewelry and are increasingly becoming popular. One of the foremost brands to enter this arena was Gili. This case study examines the growth of Gili into a super brand.

Branded jewelry is the new mantra in the market having rapidly acquired a niche over the past few years. Increasing purchasing power and disposable incomes of India’s middle class has resulted in consumption growth of this industry by about 11 per cent in the five year period preceding 2006-07. Add to that the insatiable Indian carving for gems and jewelry and the demand will sky rocket to US $ 20 billion by 2010 and US $ 30 billion in 2015 according.

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  • i really like India, the silver from them is not quite expensive and i have plan to go there because i want to buy my parents a silver before there silver wedding.

  • Gold is the biggest asset at India and all over the world it is said that buying some Gold is always a good idea, now you can get even loans against your asset Gold.

  • ya really i agree it and also valuable to the investor,,,, Mostly people gives important to the low cost price for purchasing the jewels collections…

  • great blog.The post is making interest on jewels.I look forward your blog to know more like this.

  • Management of Jewelry is best of jewelry.