India scored in its exports during April-August 2007, with a 24% percent increase, according to a Gem and Jewelry Export Promotion Council (GJEPC) report. The exports of diamonds and jewellery rose by 24% and 30%, respectively in volume.
Also, exports in value increased to $7,752 million during the five months, as compared to $6,237 million in 2006.
The Cut and Polished Coloured Gem Stone category had two winners - Vaibhav Gems Ltd. and Kothari Gems.
The Highest Importer of Cut and Polished Diamond-USA were Sanghavi Diamonds Inc. and Indian Diamond Inc.,
whereas the Highest Importer of Coloured Gem Stone was Lee Gems & Jewellery Co.
These winners would be felicitated at an awards function which is slated for the 5th of October at New Delhi according to news sources.
Worldwide, the gems and jewellery industry has been growing at a good pace and is currently estimated at over US$ 130 billion. In India, it accounts for nearly 20 per cent of total Indian exports. It provides employment to 1.3 million people directly and indirectly.
• Increasing purchasing power and disposable incomes of India’s middle class has resulted in consumption growth of this industry by about 11 per cent in the five-year period preceding 2006-07.
Add to that the insatiable Indian craving for gems and jewellery, and the demand will skyrocket to US$ 20 billion by 2010 and US$ 30 billion in 2015, according to industry experts.
• India’s gems and jewellery industry has been allowed 51 per cent foreign direct investments by the government in single brand retail stores attracting both global and domestic players to this sector.
• According to a report released by Technopak Advisors on Changing Retail Landscape in India, the jewellery and watches market is pegged at about US$ 13.52 billion. It is expected to register a 12 per cent growth by 2012, touching US$ 23.54 billion.
• Experts believe that by 2013, India will become the biggest consumer of jewellery.
• In the recent years a large number of players have been attracted to the Indian gems and jewellery retail sector:
• Reliance Retail is planning an aggressive entry into the jewellery retail market through its about 400 to 500 jewellery retail outlets across the country.
• Damas India, part of one of the largest jewellery retail outlets in the world, is adding 16 new stores to its present dozen stores in India.
• Swarovski, the global crystal goods manufacturer and marketer plans to set up 30 stores by 2009, from the current 13.
• The Gitanjali Group bought 'Nakshatra', the premium brand of jewellery promoted by Diamond Trading Company (DTC)
• Mumbai-based Vardhaman Developers plans to build four more jewellery malls in the city and is already set to launch Jewel World-
Mumbai’s first jewellery mall.
• Dubai-based Joy Alukkas has recently opened its largest showroom in Chennai.
• Viswa and Devji Diamonds a partnership between the Indian group and the top jewellery retailer in UAE opened its first diamond
retail outlet.
• Gitanjal Gems Ltd opened its first luxury jewellery mall in Gurgaon, where a number of international brands have started their retail
business.
• Gold Souk India has plans for bringing 100 Souks in 100 months
Also, exports in value increased to $7,752 million during the five months, as compared to $6,237 million in 2006.
The Cut and Polished Coloured Gem Stone category had two winners - Vaibhav Gems Ltd. and Kothari Gems.
The Highest Importer of Cut and Polished Diamond-USA were Sanghavi Diamonds Inc. and Indian Diamond Inc.,
whereas the Highest Importer of Coloured Gem Stone was Lee Gems & Jewellery Co.
These winners would be felicitated at an awards function which is slated for the 5th of October at New Delhi according to news sources.
Worldwide, the gems and jewellery industry has been growing at a good pace and is currently estimated at over US$ 130 billion. In India, it accounts for nearly 20 per cent of total Indian exports. It provides employment to 1.3 million people directly and indirectly.
• Increasing purchasing power and disposable incomes of India’s middle class has resulted in consumption growth of this industry by about 11 per cent in the five-year period preceding 2006-07.
Add to that the insatiable Indian craving for gems and jewellery, and the demand will skyrocket to US$ 20 billion by 2010 and US$ 30 billion in 2015, according to industry experts.
• India’s gems and jewellery industry has been allowed 51 per cent foreign direct investments by the government in single brand retail stores attracting both global and domestic players to this sector.
• According to a report released by Technopak Advisors on Changing Retail Landscape in India, the jewellery and watches market is pegged at about US$ 13.52 billion. It is expected to register a 12 per cent growth by 2012, touching US$ 23.54 billion.
• Experts believe that by 2013, India will become the biggest consumer of jewellery.
• In the recent years a large number of players have been attracted to the Indian gems and jewellery retail sector:
• Reliance Retail is planning an aggressive entry into the jewellery retail market through its about 400 to 500 jewellery retail outlets across the country.
• Damas India, part of one of the largest jewellery retail outlets in the world, is adding 16 new stores to its present dozen stores in India.
• Swarovski, the global crystal goods manufacturer and marketer plans to set up 30 stores by 2009, from the current 13.
• The Gitanjali Group bought 'Nakshatra', the premium brand of jewellery promoted by Diamond Trading Company (DTC)
• Mumbai-based Vardhaman Developers plans to build four more jewellery malls in the city and is already set to launch Jewel World-
Mumbai’s first jewellery mall.
• Dubai-based Joy Alukkas has recently opened its largest showroom in Chennai.
• Viswa and Devji Diamonds a partnership between the Indian group and the top jewellery retailer in UAE opened its first diamond
retail outlet.
• Gitanjal Gems Ltd opened its first luxury jewellery mall in Gurgaon, where a number of international brands have started their retail
business.
• Gold Souk India has plans for bringing 100 Souks in 100 months
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