PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2010/05/24 - Recovering economy along with improving income levels will enable gems and jewellery market to grow at 14.7% CAGR during 2010-2012, says RNCOS.
According to our industry research report “Indian Gems and Jewellery Market - Future Prospects to 2011”, India possesses world’s most competitive and rapidly growing gems and jewellery market. Highly skilled and cheap manpower, along with strong government support in the form of incentives and establishment of SEZs, has been driving the market growth for the past few years. Based on various concrete market fundamentals, our research further reveals that future growth potentials of the market remains bright with projected CAGR of 14.7% during 2010-2012.
The report further identifies that Indian gems and jewellery market is currently dominated by the unorganized sector; however, the trend is set to change in near future with the branded jewellery market growing at a projected CAGR of more than 41% in the coming four years. As per our research, with its consumption pegged at nearly 20%, India remains world’s largest gold consumer and this share is expected to grow further.
Further, growing importance of India in global gems and jewellery market has opened a lot of opportunities for exports. The country is fast becoming a major export destination of gems and jewellery to various developed and developing countries, including the USA, the UAE, Hong Kong and Belgium. Despite recession, the Indian gems and jewellery exports sustained the positive momentum and showed tremendous resilience against recession.
“Indian Gems and Jewellery Market - Future Prospects to 2011” is an outcome of extensive research and thorough analysis on the burgeoning gems and jewellery industry in India and its segments including gold, diamond, gemstones, pearls, etc. The report discusses production, consumption and trade trends with focus on current and past market performance and factors critical to the success of the concerned industry in India. We have also identified all the key players in the Competitor Analysis section of the report. The section talks about the business profile and strategic moves of the leading players operating in the sector.
Most importantly, the report also gives industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Indian gems and jewellery market, which clients will find extremely useful.
RNCOS (RNCOS.com), incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.