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Jewellery shines in quantity, fades on quality

11
Jan '06
Indian precious and semi-precious jewellery has been an important part of global trade.

India supplies jewellery to global retailers like Wal-Mart and JC Penney.

India's global jewellery market has increased from 0.8 percent to around three percent.

However, Italy's share of global market is around 28 percent, which proves that Indian industry has a lot more to do.

Indian designs are more traditional, less innovative and lack in quality rather than in quantity.

Sources suggest that each location has its own preferences in designs.

Designs that are popular in the EU may not be as much of a hit in the US.

There is a huge potential for 10K and 14k, studded gold jewellery in overseas markets.

Mehul Choksi, Chairman, Gitanjali Group, which is launching its two brands, Nakshatra and Asmi, in Dubai, says that overseas market prefer lighter shades of the yellow metal.

While bigger jewels are popular with the US consumers, delicate and lighter designs are fancied by the Europeans.

Indian manufacturers should consider this and develop designs to cater to particular markets and create modern designs.

As Vijay Jain, CEO, Orra, rightly points out that India has abundant skilled labour to back the industry at present.


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