Gold jewellery no longer remains women's domain. Indian men flaunttheir passion for gold jewellery; making India, the third biggest jewellerymarket for men's luxury accessories.

Goldjewellery has always occupied a pivotal position both in the lives of Indiansand Indian economy. Indian jewellery market is estimated to have a market sizeof $40 billion. Gold jewellery comprises 80% of the total Indian jewellerymarket. Apart from this, India boasts to be the world's major diamond cuttingand polishing industry. Jewellery industry in India; is well supported byGovernment policies and banking sectors providing enough credit for the sector.

Indiais the biggest consumer of gold; around 800 tonnes of gold, comprising 20% ofthe global gold consumption. Of the total gold consumed, 600 tonnes are usedfor making jewellery. India excels in diamond industry as well. 9 out of 10diamonds sold in the world are cut and polished in India. There are more than2.5 million jewellery shops in India. Indian shoppers are getting more qualityconscious and brand focused. Government allows 51% of FDI in single brandretail stores. This is attracting both domestic and global players to enter theIndian market. Jewellery sales are expected to increase up to USD 37 billion by2015.

Men'sjewellery gets in the spotlight:

Addingto all the excitement, currently men are getting much interested in jewelleryshopping than ever before. They are adorning themselves with exquisitejewellery, poised to connect with their creative and aesthetic side. AEuromonitor International research states that, India is quickly overtaking theUS to become the third largest market for men's jewellery. Men's jewellerymarket is estimated to be around `954 crore, and is further projected to have a growthof 36.4% by the next year.

Awide range of men's jewellery is offered in the market with masculine designscapturing a sense of effortless cool. Fancy bracelets, studs, rings, cufflinks,and chains are becoming a fashion statement for men too, and many of India'smetro men have already added these in their wardrobes. Light weight goldjewellery is preferred by them. Neck chains, bracelets, and rugged cuffs areseen in stores; uniquely and ornately styled, along with natural, historical,and socio cultural reference. reports Dushyanth Ganjam, head of retail at luxury jeweller House of Ganjam, running outlets across Mumbai, New Delhi and Bangalore saying, "There is much more intelligent involvement by men today in choice of design, type of stones or quality of diamonds. Not only do they see it as an investment but want to be seen as gifting something exotic."

Men from the Metros in the age group 20-30, drive this demand. They account to 8-10% of the total jewellery customers. Most of them do the jewellery shopping and take decisions independently. Many of them shop for gifts for their partners as well. A research reveals that 15-20% of gold and platinum jewellery are being purchased by men. Rings and bracelets are the top selling accessories.

Premium Brands:

Generally women's jewellery gets all the attention. As men's jewellery market gets heated up, more brands are focusing on this sector. Big brands such as Reliance retail, Damas, Dubai based Alukkas, have established their market successfully in India. Many global brands have their men's jewellery sold online. Armenta, the Spanish jeweler immortalizes masculine beauty with their artistic and literary collections. Cartier, the renowned French jeweler makes men discover the inventiveness of luxury jewellery through its admired collections. Meticulously crafted pendants, phone accessories, cuffs, cufflinks, and bracelets of the French jeweller John Hardy prove a perfect accessory for men to express his individuality.

Men's jewellery market is picking up with gold as a preferred mode of investment. Current trends prove that Indian men are shedding their inhibitions to nurture their metrosexuality.