Growth of Indian Gems and Jewellery Market Remains Intact
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.