Gem, jewellery sector viewed as thrust area for export promotion

Gems and Jewellery sector has been contributing in a big way to the country’s foreign exchange earnings and the government has viewed this sector as a thrust area for export promotion, Minister of State for Commerce and Industry Hardeep Singh Puri said on Monday. “Therefore, the government allows 100 per cent foreign direct investment in this sector…. Today, the country exports USD 35 billion gem and jewellery annually and is one of the largest exporters in the world, catering to top markets like the US, Hong Kong, China, the Middle East, Russia, and other countries,” the minister said.

At the inaugural ceremony of 5-day e-IGJS (International Gem and Jewellery Show) organised by Gem Jewellery Export Promotion Council (GJEPC), the minister stated that the trade fair at an ideal time as demand for gems and jewellery from all of the major markets is picking up with the rollout of vaccines against COVID-19, which has already started in India.

However, the digital media is going to continue as a new way of doing business, he added.

The GJEPC chairman Colin Shah said the country is also the largest manufacturing centre for emeralds and morganite; and GJEPC has also witnessed a huge demand for Indian silver jewellery over the last few years.

“We are focused to become the world’s preferred source of fine jewellery and increase our exports from the current USD 35 billion to USD 75 billion in the next few years,” he added.

Shah further said that the industry has been able to cater to the demand of the buyers for the festive holiday season in the western countries, which has helped the sector to recover to the pre-COVID-19 levels of business in the last two months.

The jewellery park in Mumbai will further elevate India’s jewellery manufacturing standards to serve the international markets, he added.

Over 500 international buyers, including independent retail, wholesale change design houses jewellery brands from 50 countries are attending the show.

e-IGJS, which will conclude on January 22, has 74 buyers from the USA followed by 47 buying companies from the UK.

Spinel Necklace Market May Set New Growth Story

Latest released the research study on Global Spinel Necklace Market, offers a detailed overview of the factors influencing the global business scope. Spinel Necklace Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Spinel Necklace. The study covers emerging player’s data, including: competitive landscape, sales, revenue and global market share of top manufacturers.

Definition:

Spinel is a gemstone that comes in different colors. Pure spinel is generally colorless, but all the impurities present are responsible for the wide range of colors. The most valuable and sought-after spinel color is a deep blood red, although the colors blue, yellow, orange, pink, and purple also make fine gemstones. Spinel often fluoresces in ultraviolet light, and this can help in its identification. Gem Spinel is only available in very limited quantities, which is why jewelry companies and gem cartels don’t actually market this gemstone to consumers. This prevents spinel from being a mainstream gem. Spinel is easy to synthesize and can be made into any color by adding impurities. Synthetic spinel is mostly simulated so as to replicate many of the other gemstones like diamond, sapphire, and zircon. Because of the abundance of synthetic spinel, one always has to be careful just to buy this gem from reputable retailers. Almost all colorless spinel gemstones are synthetic as they are seldom colorless in nature.

The Global Spinel Necklace Market segments and Market Data Break Down are illuminated below:

Type (Spinel & Diamond Necklace, Spinel & Gold Necklace, Spinel & Silver Necklace, Others), Application (Decoration, Collection, Others), Spinel Type (Natural, Synthetic), Distribution Channel (Online, Jewelry Stores, Specialty Stores, Others), Color (White, Pink, Blue, Black), Style (Pendant, Beaded, Station, Strand, Collar, Others)

Market Trend

• Change in Lifestyle and Living of Standard

• Growing Fashion Consciousness Globally

• Increase Demand for Customized Spinel Necklace

Opportunities

• Rising Working Women, Teenagers, and Working Population

• Rising Online Retail Spending for Spinel Necklace

• Increase in Living Standards, and Growing Fashion Consciousness Globally

A special chapter in the study presents Impact Analysis of COVID-19 on Global Spinel Necklace Market along with tables and graphs related to various country and segments showcasing impact on growth trends.

Custom made jewellery in India

Don’t we often see a piece of jewellery and feel it needs a little tweak? Well, all jewellery lovers would definitely identify with this idea. The jewellery produced in India certainly meets international quality and design standards, but we often end up buying what is trending or being worn by everybody else. How many times have you desired to turn a careless jewellery idea into one-of-a-kind fine custom jewellery piece, that is only designed for you? Not many know that the trend of custom made jewellery is catching up in the country and if you love everything unique, then custom made jewellery is definitely something you should look at.

What is custom made jewellery? Custom made jewellery is simply jewellery customised for an individual, keeping in mind their needs. It includes making alterations to existing jewellery or designing new pieces as requested by the consumer.

How does it happen? Custom made jewellery designing is a six point process in India, and here are the vital points it incorporates: Choosing a vendor Not all jewellery labels/vendors entertain customisation requests, hence it’s vital to first identify who would be will to take up the custom jewellery project. Choosing a design Secondly, as a connoisseur of jewellery, a customer needs to pick up a design that they want to be replicated/designed. Sharing the design You have to then share the design with the jeweller and get quotes on how much the piece of jewellery is going to cost. See a 3D design All leading jewellers who provide customisation of jewellery are open to sharing 3D designs of the pieces, hence it’s best to request for one. This way, you’ll be more or less sure of what to expect from the end product. Give a go ahead Once you are satisfied with the 3D design, you need to give your go ahead to the jeweller, and he’ll start the process of crafting the jewellery according to your need. Your jewellery is ready with all valid certifications The last part is obviously jewellery delivery, and you only have to check that you are provided with all the valid certifications related to the jewellery – for example the hallmark or diamond purity certifications. Expert speak We got in touch with Manan Shah, Co-Founder, N S Jewels to know more about custom made jewellery in India and here’s what he had to say. According to Shah, custom made jewellery is a new but growing concept in India. “This concept is here to stay as customers nowadays are looking for something unique and exquisite, feels the jewellery expert. Custom made jewellery’s popularity is increasing because it comes with an advantage of creating a design as per individual’s taste. There is also an increase in interest of consumers customising their jewellery as opposed to simply buying readymade one as there is now an emotion attached to the customised product,” adds Shah. The jeweller lists out some benefits of opting for custom made jewellery, here are some of them: Benefits: Designs can be made trendy and wearable, as per a modern woman’s needs. Jewellery can be made in such a way that the statement pieces come with multi-utility options. There can be a greater focus on the quality of the product.