Noida, India (PressExposure) September 09, 2009 -- A new research on the Indian gems and jewellery sector, âIndian Gems and Jewellery Market - Future Prospects to 2011â, by RNCOS, anticipates the Indian gems and jewellery sector to cross US$ 26 Billion by 2012, driven by availability of huge base of skilled labor and improving lifestyle.
We have found that India has a large pool of skilled and low cost man power for its gems and jewellery industry. The country has worldâs one of the best skilled manpower to design and make high volumes of exquisite jewellery at relatively low labor cost. The cost per carat for cutting and polishing diamond was US$ 10 in India as compared to US$ 17 in China and US$ 150 in Belgium. It also has the largest resource hub in diamond cutting and processing. Low cost of labor involved in production of finished diamonds has lured global attention, thereby resulting into the growth of the industry.
Changing lifestyle and urbanization are also fuelling the growth in the gems and jewellery industry, mainly in branded jewellery, which is expected to grow over 40% in the coming years. Urban consumers in India have become more exposed to western lifestyles, primarily through overseas travelling. This has led to increased preference for products and designs that are popular abroad. For instance, there is a shift towards machine-made jewellery over the traditional handcrafted jewellery.
âIndian Gems and Jewellery Market - Future Prospects to 2011â provides comprehensive information on gems and jewellery market in India while focusing on past and future market scenario. The report studies the past and present market trends to highlight the potential growth areas in future. It also gives an overview of the organized and unorganized market for gems and jewellery in the country. The report also takes into account the weaknesses and strengths of existing players in the market to facilitate new players to devise their strategies accordingly to gain competitive advantage.
The research also includes forecast on various segments of the industry like gems & jewellery market, gold jewellery sales, share in world gold consumption, diamond jewellery sales, branded jewellery market and share of branded jewellery in the overall jewellery market.
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