DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/90c58a/indian_jewellery_m) has announced the addition of eprobe Research Pvt. Ltd's "Indian Jewellery Market" report to their extensive offering of international market research publications.
Gems and jewellery form an integral part of Indian tradition. A legacy passed from one generation to another. Due to this fact India has become the largest consumer and importer of gold in the world, importing 958 tonnes in 2010.
In 2011 gem and jewellery exports will witness a rise of around 5 per cent year-on-year. Although the market is highly dominated by unorganised players, with the increase in consumer income and economic prosperity the future of organised retail in India is very bright.
The branded jewellery sector was estimated to be US$ 2.2 billion in 2010, on the back of quality consciousness among target consumers. However, India is the world's largest diamond cutting and polishing centre in the world. Surat is India's diamond processing hub, contributing over 80% of the country's diamond processing industry with annual revenue of around US$13.03 billion.
India accounts for 60 per cent value share, 82 per cent by carats and 95 per cent share of the world market by number of pieces. It is the third largest consumer of polished diamonds after the US and Japan.
On the other hand, the Indian costume jewellery market is also witnessing growth in the international market. The current global costume jewellery and accessories market is estimated at US$16.3 billion, of which India only exports around US$53 million - thereby providing a huge opportunity for Indian costume manufacturers.
Due to the increasing gold prices, platinum jewellery has gained momentum in the past few years - not only worldwide but also in India. As per the Platinum Guild International (India), the number of outlets selling platinum jewellery increased from 12 in 2000-01 to over 300 currently. Hence, the overall jewellery market is booming in India and is providing huge opportunities to local and branded players in the market.
For more information visit http://www.researchandmarkets.com/research/90c58a/indian_jewellery_m