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Global Gems and Jewellery Industry |
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Global market for gems and jewellery pegged at US$ 145 billion |
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Diamond-studded jewellery contributes close to 50% of the total demand |
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Plain gold jewellery contributes over 40% of the total demand |
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United States alone represents over 45% of total worldwide diamond jewellery sales |
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The United States, Middle East, China, India, Japan, Italy and the United Kingdom constitute close to 75% of the global demand for jewellery |
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Jewellery manufacturing and Jewellery retailing constitute close to 75% of the Jewellery value chain |
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Value addition continues to be highest for the players with an integrated presence in the Jewellery value chain |
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India, China, Israel and Belgium are the leading countries engaged in the global diamond cutting and polishing industry |
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India accounts for approximately 60% of the global polished diamonds in value terms, 80% in caratage and 90% in pieces |
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The gems and jewellery industry occupies a prominent position in Indian economy. Leading foreign exchange earner |
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US$ 17 billion of exports in FY 2007 - US$ 11 billion in diamonds |
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USA, Hong Kong, UAE and Belgium are the major export destinations |
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Exports of Gems and Jewellery (excluding Cut and Polished Diamonds) grew at 18% CAGR over FY 2005-2007 |
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Superior craftsmanship and low-cost labour increases competitiveness |
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| The Indian Retail Jewellery Market |
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One of the largest jewellery markets in the world |
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97% of jewellery sales are by “family jewellers”: family owned businesses who become almost hereditary vendors to customer households |
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Change in the demographics and increased consumerism of Indian retail market |
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Organized retail is growing at a rapid pace across all sectors |
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Share of organized retail jewellery increasing rapidly: Expected to grow from US$ 350 million in 2006 to US$ 2.28 billion by 2010 |
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Key elements for development of a successful brand |
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- brand image |
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- aesthetic designs |
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- marketing and promotion |
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- distribution network |
| Favourable Market Trends in India |
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Increasing disposable income and discretionary spending by Indian consumers leading o a change in consumer behavior towards demand for branded and luxury products |
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From unbranded purchases from family jeweller to branded jewellery, certified for purity and craftsmanship for the mass market |
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From jewellery bought as investment to jewellery for regular use as fashion |
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From mainly gold jewellery to diamond studded jewellery |
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From traditional ethnic and chunky designs to fashionable, lightweight and innovative designs |
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From marriage and festive season as peak seasons to year-round wearability and gifts giving |
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From jewellery bought on commodity + labour costs to jewellery bought per piece or set |
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