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The gold market in India has seen its ups and downs over the years. But as gold prices continue to increase, along with factors such as increased import duty, the gold industry’s future remains unclear. Goldsmiths and jewellers have taken the biggest hit. As prices are increasing and the import duty has increased to 12.5% ...in the latest union budget, national import has decreased which has brought down the amount of raw material available. This has put a strain on the amount of gold being produced and sold in the market. Customers are also buying less gold despite the festive season. In Zaveri Bazaar in Mumbai, once known as the hub of jewellers and goldsmiths, there used to be about 2 lakh gold artisans. This number has reduced by half as employers cannot afford to pay them. As jewellers are not getting many orders, goldsmiths are losing their jobs. Similarly, there is a major slowdown in the number of new jewellery businesses while existing ones are slowly closing shop. So why are we witnessing increases in gold prices? According to Business Today, the mixed signals from the US-China trade talks along with public worry regarding the upcoming recession have triggered an increase in gold prices in India. Furthermore, a weak economic outlook worldwide is making gold a safer investment compared to mutual funds or other options. This too has contributed to the increase in prices. However, there is one way that India’s jewellers can capitalize on the trade war. The US government recently placed a 10% import duty on Chinese jewellery. India can benefit here if they can provide incentives for foreign investors to shift their business from China to India. India will need to work towards this and ease up on their
business policies, as currently, countries like Thailand and Vietnam offer much friendlier policies. If India does manage to capitalize on the 10% import duty placed on jewellery from China, it will be gaining on a $2 billion export market. While India’s gold industry is going through a challenging low phase, there are ways for it to gain a competitive advantage over other countries and hence benefit from the export market.
It’s almost that time of the year, and Indian brides, today, know exactly what they want. Whether traditional or contemporary, the design and finish must match the language of their ensembles. So if you’re in the jewellery industry, here are the top trends of the season to add to your catalogue.
Purchasing fine gold jewellery is an investment. In the natural order of things one would want to protect that investment. The process of taking care of your gold jewellery is just as important as making that initial purchase decision. Over time gold tends to develop a dull coating over its lustrous sheen and the shine diminishes. Therefore, jewellery and gold in particular require extra care and the occasional clean up.We’ve spoken to experts and made a short list of 5 essential tips to care for your gold jewellery passed down generations.
Gold Jewellery in India goes beyond aesthetics and value. It is a deep seated relationship that has developed into a booming industry making India the second largest gold market in the world. So it is important to cover the basics when it comes to buying gold jewellery and ask the right questions so that we know our investment is a sound one.
One question on everyone’s mind when they buy Jewellery of gold or other precious metals is whether to go for the machine make or handcrafted pieces. But it is never an absolute solution. You cannot stick to either for all your jewellery needs, simply because each has its own positives and negatives. That being established, we can now get into what details to look for when buying either of the types. So here is a quick glimpse on where to get exactly what you’re looking for:
There is no culture as illustrious as the Indian culture. Over the past decades,
Indian jewellery has always been the most desired around the world. Indians love
tradition and always try to give a modern twist on old classics when it comes to
Let’s say no more and get on with the show!:
In this post, we will cover 3 Indian jewellery trends that will help you stay on top of the style wave this year.
Indian Jewellery is known to be distinctive, recognisable at a single glance. This comes from the fact that the jewellery making techniques and designs are interwoven with the country’s rich history. Each significant era brought with it numerous new innovations in metalworking and visual artistry originating from various cultures and geographies. Let’s take a walk through the most popular ones through the ages:
India's gems and jewellery sector is one of the largest in the world, contributing around 29 per cent to the global jewellery consumption. The market size is estimated to reach Rs 6.99 lakh crore (US$ 100 billion) by 2025. The sector is home to more than 300,000 gems and jewellery players, contributing about seven per cent to India’s Gross Domestic Product (GDP) and employing over 4.64 million employees. This makes India the place to be in the gems and gold jewellery business for the following reasons: