Gem Grinder, Machine

Growth Estimates and Latest Trends of Gems and Jewellery Sector in India Indian gems and jewellery sector has grown at a CAGR of 22 percent, albeit at current prices, in the last five year period from FY08 to FY13. This has largely been driven by the gold jewellery segment in terms of share (81 percent of the market in FY13) but on a growth rate basis, diamond jewellery has been the faster growing segment at ~24 percent CAGR vis-a-vis gold jewellery at ~16 percent CAGR, in line with the market trends of increasing consumer preference for diamonds and diamond studded jewellery. In the coming years (2013?17), the sector is expected to grow at a slower pace due to increased import duty and enforcement of the 80:20 export rules. Further, competition from other Asian countries, such as China and Thailand in jewellery fabrication will add to the stress on growth.Given the demand across the country, domestic organised players are increasingly looking at expanding their footprint to garner market share. Simultaneously there is an increasing demand from the consumer side for hallmarking and certification proving quality of the products. These two factors have led to a marriage of convenience between organised players and local independent outlets in the form of franchisee or association relationships. In the five years from 2008 to 2013, the market share of organised players has increased from 10 to 22 percent, more than doubling in a five year period. This increasing share will require sales associates and merchandisers with a higher capability in core requisite skills for their roles. All these factors will result in more job opportunities for candidates applying in this sector across India.