Interviews
FICCI Study: India tops in processing & exporting of diamonds
07 Jun '08
2 min read
Indian Gems and Jewellery sector is undergoing a transformation from a largely unorganised sector to a more organised one.
While the family owned jewellery store remains the predominant retail format, new formats such as boutiques, supermarkets and gold souks are emerging for jewellery retail.
Indian customers are displaying growing preference for quality, designs and branding. The emerging jewellery retailing sector can offer long term benefits to organised players investing in this area.
Size of the Indian market:
The two major segments of the Gems and Jewellery sector in India are gold jewellery and diamonds.
Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamonds as well as gemstone studded jewellery.
Diamonds:
India occupies top position in importing, processing and exporting diamonds. It accounts for nearly 55% of the world's net exports of cut and polished diamonds in value terms, 90% in terms of pieces and 80% in terms of carats.
India now processes 85% of the world's polished diamonds, far ahead of other competitors. Every 11 of 12 diamonds sold around the globe are processed in India regardless of where these are mined.
Gold Jewellery:
India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption, of which nearly 600 tonnes goes into making jewellery.
The Indian jewellery market, estimated to be US$ 13.5 billion in fiscal 2006-07, accounts for 8.3 per cent of world jewellery sales.
The Gems and Jewellery sector in India provides employment to 1.3 million people directly and indirectly.
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While the family owned jewellery store remains the predominant retail format, new formats such as boutiques, supermarkets and gold souks are emerging for jewellery retail.
Indian customers are displaying growing preference for quality, designs and branding. The emerging jewellery retailing sector can offer long term benefits to organised players investing in this area.
Size of the Indian market:
The two major segments of the Gems and Jewellery sector in India are gold jewellery and diamonds.
Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamonds as well as gemstone studded jewellery.
Diamonds:
India occupies top position in importing, processing and exporting diamonds. It accounts for nearly 55% of the world's net exports of cut and polished diamonds in value terms, 90% in terms of pieces and 80% in terms of carats.
India now processes 85% of the world's polished diamonds, far ahead of other competitors. Every 11 of 12 diamonds sold around the globe are processed in India regardless of where these are mined.
Gold Jewellery:
India consumes nearly 800 tonnes of gold accounting for about 20 per cent of the world gold consumption, of which nearly 600 tonnes goes into making jewellery.
The Indian jewellery market, estimated to be US$ 13.5 billion in fiscal 2006-07, accounts for 8.3 per cent of world jewellery sales.
The Gems and Jewellery sector in India provides employment to 1.3 million people directly and indirectly.
Click here to view more:
Federation of Indian Chambers of Commerce and Industry
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