India's private sector is about 15 thousand tons of gold
India's gem and jewelry industry is the world's fastest-growing jewelry market, worth about 27 billion U.S. dollars. In addition, India is the world's largest polished diamond market, is gradually growing as a great base for advanced jewelry design, retail giant Wal-Mart and JC Penney are purchasing jewelry like pandora jewelry from India. Indian ingenuity, low-cost labor prompted India can be a large number of low-cost production of fine jewelry. India's domestic jewelry market is of value about 16 billion U.S. dollars, including gold, diamonds, platinum and other precious stones.
India's gem and jewelry industry, a large number of domestic private enterprises have been highly fragmented. The country has 450,000 goldsmith, 10 nights’ jewelers, 6000, and 8000 processors of diamonds diamond dealers. However, as consumer awareness rising, India, organized retail and a bright future. Is expected in 2010, India's gem and jewelry industry, organized by 40% years to 2.2 billion. India's consumer awareness, encourage them to be more willing to buy a brand jewelry, brand jewelry because of its good service, high quality and have a favorable buy-back measure. In addition, the machine cut jewelry handmade jewelry more popular than the fact that also will promote the jewelry retail industry, including some small jewelry things used on pandora bracelets. Since 2000, India's gold retailers increased by 40%, China had 150 foreign and 65 branches. The face of changing market environment, the traditional jewelers, through propaganda is to establish brand, establishment of commercial images in the minds of consumers.
According to the World Gold Council (World Gold Council) released the latest report said demand for gold in India there are about 15 thousand tons of gold have been privately owned. 2009 Q3 demand for gold as high as 800 tons, or about 24.7 billion U.S. dollars. India is the world's largest consumer of gold jewelry, accounting for about 20% of total consumption of gold. Last year, India's central bank is also to 6.7 billion U.S. dollars from the International Monetary Fund (IMF) purchased 200 tons of gold. Chavakkad the southern Indian state of Kerala province of the country town of consumer sales of pandora jewellery increase by 20%. The town has more than 115 indium. Recently, India's gems and jewelry are mainly exported to the UAE, accounting for 35% of the total export volume; Hong Kong's jewelry sold in about 25%, the United States is about 20%. India's gems and jewelry exports in the September 2009 record of about 2.56 billion U.S. dollars. Since the beginning in March 2009, the industry has been flourishing, is expected in the coming festive period, the country's jewelry exports to a higher level. Cutting and polishing of diamonds, colored gemstones, increased by 17% and 31%. In Dubai, United Arab Emirates, led by India's major exporter of jewelry, it accounts for 31% of the country's total exports.
