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India’s Jewelry Industry: From A Glittering Legacy Of Economic Strength To Global Center Of Sourcing According to IBEF, India is the world’s largest buyer of gold and is known for more than just its beautiful jewelry. As a major economic pillar, the industry contributes considerably to the nation's growth and prosperity * GDP Contribution: The gems and jewelry sector contributes around 7% to India’s GDP. * Employment: Over 5 million workers find their livelihoods in this glittering industry. From skilled artisans to sales professionals, it empowers families and communities. * Exports: With a keen eye on global markets, this sector thrives on exports. India’s jewelry graces necks and wrists worldwide, contributing to our total merchandise exports of 12% and holding the third largest commodity share. * Polishing: 9 of 10 diamonds worldwide are polished in India, making it one of the biggest worldwide contributors to the diamond industry. In addition, India polishes 6 out of10 gems. * Cutting: Remarkably, 14 of 15 diamonds are cut in India, making it a global leader in diamond craftsmanship. Additionally, 6 out of 10 jewels are polished in India. According to the Gem & Jewelry Export Promotion Council (GJEPC), India's gem and jewelry exports reached $41.9 billion in 2022, with a 44% growth compared to 2020-21 and a 34% increase from 2019-20. Experience the finesses of India’s jewelry craftsmanship and let us be your trusted manufacturing partner. #jewelrymanufactures #luxuryjewels #modernjewelry #goldjewelry #silverjewelry #damondjewelry #gemsandstones

India's Dazzling Gem: A Look at the Thriving $70 Billion Jewellery Industry India's jewellery industry isn't just about sparkling gems - it's a cultural powerhouse and an economic giant. Jewellery in India transcends mere adornment. It's intricately woven into the country's cultural fabric, signifying social status, religious beliefs, and traditions passed down through generations. For instance, brides wear specific jewellery sets during weddings, each piece imbued with symbolic meaning. Did you know the jewellery industry contributes a whopping $70 billion to the country's GDP and employs over 5 million skilled artisans? From intricate goldwork to modern diamond cuts, India's jewellery sector shines on the world : 1) Economic behemoth: The industry contributes a staggering 7% to India's GDP, showcasing its significant impact. 2) Employment powerhouse: Over 5 million skilled and semi-skilled workers find livelihood in this vibrant sector. 3) Global leader in gems & jewels: India boasts a 25-30% share of the world's cut and polished diamond market, making it a true leader. India's gem and jewellery exports are a significant driver of the industry's growth. The country polishes a sizable share of the world's rough diamonds, making it a crucial player in the global diamond trade.This export focus fosters international trade partnerships and brings valuable foreign currency into the economy. Notable players in the industry: 1) Titan Company Limited (TANISHQ JEWLLERYS ): A household name synonymous with trust and design innovation. 2) Malabar Gold & Diamonds: Well-known for its vast network and focus on South Indian bridal jewellery. 3) Kalyan Jewellers India Limited : Popular for its marketing campaigns and celebrity endorsements. 4) CaratLane - A Tanishq Partnership : A pioneer in online jewellery retail, offering customization and transparency. 5) Gemstones India: A leading manufacturer and exporter of coloured gemstones, making India a hub for coloured jewels. 6) PC Jeweller Ltd : Renowned for its heritage-inspired designs and commitment to quality craftsmanship. India's jewellery sector is a fascinating blend of tradition and innovation. With a growing emphasis on sustainable practices and lab-grown diamonds, the future is even brighter. What excites you most about the evolution of this dazzling industry? #jewelleryindustry #india #gemsandjewellery #gold #silver #diamond

https://lnkd.in/dgeu66K3 Jewelry "Jewelry: The Growing Demand for Indian Jewelry in 2024" This infographic delves into the booming global demand for Indian jewelry in 2024. It highlights the intricate craftsmanship and cultural heritage that make Indian jewelry so unique and desirable, showcasing various styles such as traditional gold, vibrant gemstones, and intricate silver pieces that are sought after worldwide. Arrows and icons represent key export destinations, including the Middle East, the United States, and Europe, where Indian jewelry is increasingly popular for its artistry and value. The infographic features data visuals on growth in export volumes, market trends, and economic contributions, reflecting the role of jewelry as a key player in India’s export sector. A rich color palette of gold, emerald, and ruby hues captures the essence of luxury and tradition, while text elements emphasize India’s rising position in the global jewelry market. This visual summary celebrates India’s craftsmanship and its expanding influence, illuminating the factors driving this surge in demand and the global appreciation for Indian jewelry. #IndianJewelry #JewelryDemand2024 #GlobalJewelryMarket #IndianCraftsmanship #LuxuryJewelry #JewelryExports #IndiaGold

Gold price surge impact: Indian jewellers now betting on diamond jewellery in 14-carat gold instead of 18-carat Full Article Link >>> https://lnkd.in/gmPW6imu Gold prices surge: The recent increase in gold prices over the past six weeks has led to a rise in the cost of diamond jewellery in India, resulting in a decrease in demand. In an effort to reduce prices and encourage customers to resume purchasing, many jewellers have started using lower carat gold in their […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Gold price surge impact: Indian jewellers now betting on diamond jewellery in 14-carat gold instead of 18-carat Full Article Link >>> https://lnkd.in/gr4Kn9ea Gold prices surge: The recent increase in gold prices over the past six weeks has led to a rise in the cost of diamond jewellery in India, resulting in a decrease in demand. In an effort to reduce prices and encourage customers to resume purchasing, many jewellers have started using lower carat gold in their […] . . Latest IND . . . . #trendingnews #newstrending #trendingtopicnews #lifestyle #business #news #healthylifestyle #smallbusiness #supportsmallbusiness #lifestyleblogger #luxurylifestyle #businessowner #businesswoman #smallbusinessowner #businessnews

Daily Business Analysis: Indians opt for lighter, lower-carat jewellery as gold prices hit the roof Gold Rush Goes Lean: The Rise of Lightweight and Lower-Carat Jewellery in India In a striking response to soaring gold prices, Indian families are redefining their jewellery preferences. Traditional, heavy gold designs are giving way to lightweight and lower-carat jewellery, making room for elegance on a budget. From an 80-gram necklace dream scaled down to 50 grams to a shift from 22-carat gold to the more affordable 18-carat variant, the transformation in consumer behavior is unmistakable. With gold prices soaring by 22% this year and 15% last year, affordability has become the golden rule. 🔗 Industry Response Bachhraj Bamalwa, a jewellery retailer, reveals, “We are stocking more lightweight jewellery sets and reducing inventory of heavier designs.” Advances in technology allow jewellers to replicate traditional designs in lighter weights, preserving cultural authenticity without burning a hole in buyers’ pockets. Surendra Mehta, from the India Bullion and Jewellers Association, adds, “18-carat jewellery is gaining popularity, offering lower prices and greater durability.” Buyers are drawn to its practicality, with a nearly 20% cost advantageover 22-carat gold. Business Impact For the gold and jewellery industry, this shift is more than a trend—it's a wake-up call to evolve: Adapt to Changing Preferences: Offering budget-friendly options with lightweight, durable designs is a survival strategy. Technology-Driven Craftsmanship: Leveraging innovation to replicate intricate designs in lighter weights is critical for staying competitive. Expand Lower-Carat Offerings: Lower-carat jewellery presents new growth opportunities as customers seek a balance between price and quality. Business Lesson Adaptability is key in a volatile market. Businesses must listen to their customers and innovate to meet evolving demands. Whether it's gold or any other industry, the ability to pivot and cater to budget-conscious consumers ensures resilience and long-term success. 💬 What do you think about this trend? Could this shift redefine India’s gold market? Let me know in the comments! ✨ If you found this post insightful, give it a repost, share your thoughts, or follow me for more business trends and lessons to level up your feed. #GoldPrices #ConsumerBehavior #JewelleryTrends #BusinessStrategy #Adaptability #IndiaEconomy #InnovationInDesign #GoldMarket #CustomerFocus

The growing trend towards lab-grown diamonds has captured the attention of various brands and manufacturers such as Rahi impex Blue Nile VRAI Brilliant Earth Jewelbox GIVA SOLITARIO Limelight Lab Grown Diamonds SWAROVSKI and many others. Maintaining this trend in comparison to natural diamonds poses an interesting challenge. While purchasing natural diamonds often provides a sense of authenticity , satisfaction and a true sense of luxury, the evolving narrative around sustainability and ethical sourcing in the diamond industry offers an opportunity for lab-grown diamond providers to position themselves as viable alternatives. Consequently, sustaining this trend may entail a strategic focus on highlighting the benefits of lab-grown diamonds, such as their ethical and environmental credentials, alongside continued innovation in production techniques and marketing strategies to appeal to shifting consumer preferences. Please feel free to share your thoughts about lab-grown diamonds and natural daimonds. which you feel more better! #luxuryretail #naturaldiamonds #labgrowndiamonds #jewellery #diamomdjewellery #trend #jewellerydemand

The Gems and Jewellery Industry in India, particularly the business of Natural Diamonds has never seen such uncertainty. An over reliance on miners, and other trade bodies to market has led to a situation where the industry has forgotten to produce, price, promote and package its own products. For years, the industry was focussed on revenue and supply and not on demand creation or value addition. What is also abundantly clear now, is that the same message cannot be relevant to everyone all the time. (the generic campaigns run by miners, have not changed their underlying message for years). Besides, thats their business, we all have to focus on our own. Fresh ideas, for a new customer that thinks and shops differently. The geopolitical and economic reasons that are often cited, may have some impact. However, the buck stops with the business owners and how they respond and adapt to an ever changing landscape. Luxury Retail has never been more exciting and challenging. The effects of the infiltration of Lab Grown Diamonds in the minds of the consumer is also used as an excuse to justify the drop in demand. But the other way to look at this is that if the consumer is willing to pay a premium for something that is available in infinite quantities, then surely they would be willing to pay a much higher premium for a product that is extremely rare. We only need to say what the consumer wants to hear. Time for all of us to roll up our sleeves and match input with the expected output. #luxury #designinindia

As gold prices in India have surged by 22% in 2024, following a 15% rise in 2023, consumers are adapting by choosing lighter and lower-carat jewelry to stay within budget. Traditionally favoring 22-carat gold, many are now opting for 18-carat pieces, which are more affordable and durable. This shift -an epocal one?- has led jewelers to stock more lightweight and lower-carat designs, with 18-carat jewelry now accounting for over 15% of total sales, up from 5%-7% two years ago. Advancements in manufacturing technology -such as electroforming- have enabled the creation of traditional designs using less gold, catering to the evolving preferences of Indian consumers. #gold #jewelry #jewellery #india