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Gem and Jewellery Industry Analysis

Keywords: jewellery industry pestel, pestel analysis jewellery industry

Jump to: PESTEL Examination of the Jewellery Industry

The Indian Jewel Jewellery sector is one of the most energetic and fast growing sectors of the Indian Overall economy. The gems and jewellery sector in India is unorganised and fragmented. Around 90% of the players operate in the unorganized sector. This was a unique part of an industry where traditional business environment exists. The company's operations are common in range and global in spread covering all facets of diamonds and jewellery produce and trading in rough and polished stones, in any way key locations worldwide.

The Indian gems and jewellery sector is pre-dominently dependent on the US marketplaces, which is its top export vacation spot. This research comprised of activities like list down various organizations like manufacturers, distributors, etc and also chambers and libraries like the Indian merchant chambers and interacting with them to be able to gather first hands information. Gemstone jewellery is increasingly portion as a fashion statement for the affluent to differentiate themselves from others putting on traditional jewellery/silver jewellery. The macro environment includes all relevant emphasis outside a company's limitations relevant in thesense they are important enough to acquire brought on the choice. An industry finally makes aboutits business design and strategy.

Growth and progression of gem, gems, and jewellery industry

The Indian Jewel & Jewellery Sector is one of the most energetic and fast growing areas of the Indian Market. The actual fact that India is the world's greatest source for trained, skilled and adaptive manpower along with liberalised authorities policies offering a conducive environment for bi-lateral businesses, is exactly what contributes to the continuous progress of the sector. Contributing around 19% to the over-all Forex kitty of the united states, the industry's progress over the years, can be attributed generally to the constant efforts put in by.

Set-up in 1966, the GJEPC has over the years effectively moulded the dispersed efforts of specific exporters to make the gem and jewellery sector a powerful engine driving a car India's export-led expansion. This apex body of the gem & jewellery industry has performed a significant role in the progression of the Indian jewel and jewellery industry to its present stature.

From being the world's largest manufacturer of trim and polished diamond jewelry to becoming the leading international trading centre, India's gems and jewellery sector is now set on a rise trajectory. The exports grew by 38% to $14, 329. 23 million for January-December 2004 period as compared to $10, 392. 83 million in the equivalent period the this past year. GJEPC aims to improve exports of gems and jewellery to US $20 billion by 2007 and develop India as the one one-stop-shop for gems and jewellery. Also, on the anvil is the Bharat Stone Bourse, one of the greatest monoliths ever before to be built-in Asia. The Bharat Gemstone Bourse is an urban conglomerate of place, people and activities regarding diamond trading. Created to provide world-class facilities to the users of the Indian precious stone community, the complicated aims to enhance the already predominant position of the Indian gemstone industry on the globe market

PRODUCT PROFILES

GILI

Gili jewellery is high quality, fine completed, machine-made, top quality, diamond-studded, developer jewellery including pendants, earrings, bands and bracelets in 18k silver studded with small, well-cut, good quality gemstones, as matching models or by themselves. The average deal price is around Rs. 15, 000.

  • Brand Values

Gili's brand beliefs are genuine diamond and platinum jewellery at affordable prices. The Brand personality is sophisticated, enthusiastic, competent, assured, extrovert, self made, successful and reliable.

  • Noteworthy

Gili was the brand that in India enhanced Valentine's Day to 'the time' from it being yet another date on the calendar. First jewellery brand from India to take part in Basel 2000, the World's biggest jewellery and pieces exhibition organised in Switzerland. In Sept 2011, M/s Brand Finance PLC (UK) respected Gili at rs 1018 crores.

Nakshatra

Nakshatra is a circular cluster comprising six to nine rocks, with the central natural stone bigger than the stones surrounding it, signifying a constellation. It is a modern, elegant rendition of the traditional seven-stone 'Thodu' and the 'Kuda Jodi' jewellery, which are traditional Indian floral designs. The combination of traditional charisma and contemporary style helped it gain acceptance with women across age ranges.

  • Brand Values

Overt Nakshatra brand worth include beauty, radiance, school, style and quality. Between the symbolic beliefs are femininity, celestial splendour and enigma. Each design is a stylized interpretation of the essential traditional 'kudajodi' which is thought to be auspicious, showering the wearer with blessings and all the best.

  • Noteworthy

The Nakshatra design is the only person to have common appeal amidst women across India. The diamond jewelry used to make up the Nakshatra cluster were created over 800 million years ago. In September 2011, M/s Brand

Finance PLC (UK) appreciated Nakshatra at Rs. 1, 014 crores.

ASMI

The design styling for the Asmi jewellery has always been that of curvilinear forms around a central stone of and above 5 points. It rightly personifies the woman of today and her interior hearth. Asmi has under its patronage a variety of distinctive, modern-day yet affordable designs in gemstone jewellery.

  • Brand Values

From the outset, Asmi has targeted to fulfil every woman's innate need for self-expression, and has lauded the Indian woman's "inner fire". Asmi is a brandname that is "for the girl of heart", commemorating her success and uplifting her to achieve higher goals. It is a manifestation of the energy of femininity, representation of confidence, attitude and the internal spirit of a female. The brand is also advertised as one which offers "Authenticity, Affordability, Accessibility".

  • Noteworthy

A special gross annual promotional event has always been structured on Woman's Day, as the most appropriate occasion to reinforce and reiterate the prices and id of the brand. In 2009 2009, in association with FICCI Ladies Organisation, and an NGO- Fight Back, Asmi launched its Shakti Torch marketing campaign on the occasion of Women's Day 2009, to overcome the challenge of domestic violence in India. In September 2011, M/s BrandFinance PLC (UK) appreciated Asmi atRs. 406 crores

D'DAMAS

D'damas has multiple sub-brands, each unique in placement & offering. The brand also offers items in every categories-rings, earrings, nose area pins, pendants, bangles, bracelets, necklaces, Tanmanya, Mangalsutra, fifty percent units nd full collections. Each sub-brand under D'damas offers stylized and modern day designs, conceptualized and created by an in-house team of award winning designers. D'damas could very well be the only real jewellery brand that has offerings in almost all product categories, across all price tips, for all occasions and thoughts, thus covering consumers across age-groups and demographic classes.

  • Brand Values

D'damas embodies luxury and high dreams, bestowing on the wearer an aura of exclusivity and refinement. The vast variety of associated brands allows every customer a selection of jewellery to reflect her personality, likes also to suit every occasion. There exists gold and precious stone studded jewellery complementing various lifestyles, situations and price points that focus on diverse customers. D'damas is committed to the highest levels of client satisfaction. Every piece of jewellery comes with a special license of authenticity that assures of both the diamond and the platinum content in the piece. D'damas jewellery is totally hallmarked and supported with a precious stone certificate from IGI

  • Noteworthy

Best Jewellery Designs- JCK and Vivaaha Platinum Jewellery In September 2011, M/s Brand Financing PLC (UK) respected D'damas at Rs. 331 crores.

Demand drivers of gemstone jewellery

The demand drivers for the diamond handling and jewellery sector are as below:

  • Increasing acceptability of diamonds jewellery in the local market: Typically, jewellery in India has mainly been gold jewellery. Gem jewellery is less accepted in India scheduled to factors such as misconceptions associated with diamond jewelry being unlucky using instances and the bigger cost of diamond jewelry. That is now changing with an increased acceptance of precious stone jewellery in the home market.
  • Stone as a fashion affirmation for the affluent: Diamonds jewellery is progressively more offering as a fashion assertion for the affluent to identify themselves from others wearing traditional jewellery/silver jewellery.
  • Increasing affordability: Work of women in the workforce has been increasing due tothe changing mindsets and increasing education levels among women. This has resulted inwomen having more impact on the purchase decisions; and women having also began purchasing jewellery for themselves as against early developments of jewellery purchase being generally a family group decision. Increased disposable income for working couples and changes in lifestyle have aided this.
  • Exports as a driver: As seen prior, exports have been growing year-on-year and the 5 season CAGR (2002-03 to 2007-08) is approximately 13%. India currently produces around 95% of the world's cut and polished gemstone items. By carat weight, India is estimated to process 80%
  • Value addition from processing to jewellery: Though India processes a large range of diamonds, the majority of them are re-exported after polishing. There is range to increase value addition through establishing into jewellery (jewellery fabrication).

MAJOR PLAYERS

  • Gitanjali Group: The Gitanjali Group was founded as an individual company chopping and polishing diamond jewelry for the jewellery trade at Surat, Gujarat, in 1966. It has become a pioneer among major diamonds and jewellery homes. The Group has abandoned jewellery trade convention by starting multiple brands for multiple marketplaces and price segments - brands include Nakshatra, D'damas, Collection g, Asmi, Sangini and Gili. It exposed distribution via superstores, shops and other retail outlets at MRP, backed by international certifications of scientifically tested purity and authenticity, across India and in the world's jewellery capitals. Procedures of the Gitanjali Group span the globe, all the way from USA, UK, Belgium, Italy and the center East to Thailand, South East Asia China, and Japan.
  • Su-Raj Diamonds & Jewellery Ltd. : 'Su-Raj' comes from contraction of two titles viz. Suresh and Rajnikant, the founders of Su-Raj Group in the first Sixties. The company offered its shares to the public in the entire year 1986 and became the first company on the market to choose for public concern in India. This is a unique step in an industry where traditional business environment exists. The company's operations are widespread in range and global in get spread around covering all facets of diamond and jewellery make and trading in hard and polished rocks, in any way key locations worldwide.
  • Suashish Gemstones Ltd. : Suashish Diamond jewelry Ltd was included in Oct 1988. Suashish is unique in the gemstone industry as it is mostly of the players which have activities across value string thereby retaining higher margins. Its business activities include sourcing ofrough gemstones to retailing done gemstone jewellery through its retail jewellery brand "Ishi's". Suashish has applied leading edge technology throughout its gemstone andjewellery manufacturing functions. It offers subsidiaries and proper partnerships in all major market segments.
  • Shrenuj & Co. Ltd. : Shrenuj & Company Limited and its own subsidiaries engage in the produce and deal of diamonds and jewellery in India and internationally. The company works in two segments, Diamonds and Jewellery. The Diamonds portion engages in chopping and polishing of diamonds. This segment offers refined diamonds completely cut and sole cut rounds, as well as in expensive designs, such as princess, baguettes, marquise, pear, oval, emerald, and heart and soul in various shades and clarities. The Jewellery section provides diamond Individual Learning resource and Skill Requirements in the Gems and Jewellery Industry studded gold/platinum jewellery. The business was founded in 1906, is situated in Mumbai, India and utilizes about 3, 000 employees.
  • Tanishq: Tanishq is one of India's leading jewellery brands. Started in 1995, Tanishq is the jewellery business of Titan Companies Ltd - promoted by the TATA group. Tanishq has create creation and sourcing bases with through research of the jewellery crafts of India. Tanishq today is India's most aspirational fine jewellery brand with 91 stores in 64 locations, with a perfect range of yellow metal jewellery studded with diamonds or coloured gems and an array of equally impressive jewellery in 22Kt pure gold. Exquisite platinum jewellery is also partof the product rangedian Gems and Jewellery

Issues of the Gems and Jewellry Sector

Unorganised Sector

The gems and jewellery sector in India is unorganised and fragmented. Around 90% of the players operate in the unorganised sector mainly in family-run operations. The nature of the sector helps prevent it from achieving economies of level. Also, being generally unorganised, the sector mainly uses labour-intensive and indigenous technology that affects their growth potential clients. Further, the sector discovers it difficult to enhance their global competitiveness credited to troubles in adopting technologies because of this of limited financial capital and high labour costs per device.

Threat from China

Currently, China is the second-largest gemstone processing centre on earth after India; however, it is slowly and gradually catching up and it is threatening to displace the Indian gems and jewellery sector from its dominant position on the globe. The labour cost in China is the cheapest, just like in India; however, the gap between your two countries is narrowing slowly. Besides, the Chinese language economy is growing rapidly which is creating a demand for gems and jewellery in the local market. Further, many diamond manufacturers from Belgium and Israel are establishing manufacturing plant life in China. India also faces risk from China in conditions of technology adoption, that allows China to process diamonds at a more competitive price.

Predominance of the US market

The Indian gems and jewellery sector is pre-dominently dependent on the US market segments, which is its top export destination. The progress of gems and jewellery sector is closely dependent on the growth of demand in america market. However, the recent understanding of the rupee vis- -vis the united states money and a slowdown of the united states current economic climate have aggravated the concerns for the sector. All these factors necessitate India's opportunity into other physical locations. During FY07, the exports to the united states market registered a rise of 14% over exports of FY06; however, owing to the slowdown in america market, the exports grew only one 1. 15% in FY08 over the previous year. In today's situation the heavy reliance on the united states market has damaged the exporters as they are facing a drop in orders and delayed repayments.

Exchange Rate/Currency Risk

The gems and jewellery sector is affected by the rupee/dollars exchange rate since it is export-oriented. Any volatility in the exchange rates influences the margins of the players. For instance, the recent appreciation in the rupee from the dollar had made the exports of gems and jewellery less competitive in its key export areas.

High Level of Inventories

As the gems and jewellery sector is highly reliant on imports for its raw materials, the players have to keep a high degree of inventory. However, keeping this inventory becomes difficult for the players through the slack season, as it holds inventory price risk. For example, because of the current recessionary tendencies, the demand slumped and inventory piled-up much to the chagrin of the players.

Decreasing Gem Reserves

The way to obtain rough diamonds is expected to fall in the near future as the gemstone reserves are lowering. There's been no major gemstone reserve discovery since 2003, when reserves were previous discovered in the Diavik Diamond Mine in Canada. The reduced source will press up the prices of rough diamond jewelry, that will further put pressure on margins. Future source levels are basically reliant on the industry's ability to recognize new diamond deposits.

Competition from Other Luxury Goods

With the increase in throw-away income and the change in standard of living, the demand for luxury goods such as perfumes, consumer electronics, leather, automobile, devices etc are also increasing. The gems and jewellery sector is experiencing competition from these luxury goods, which is eating in to the market share of the sector.

Beneficiation in Mining Countries

India is facing a danger from the growing lowering and polishing centres in the diamond-producing countries such as South Africa, Ghana, Angola, Botswana, Namibia etc. The neighborhood government is significantly pressurising the African countries for handling locally-mined materials such as diamond jewelry within the country itself to increase profits through value addition to the great natural resources these countries maintain. South Africa has launched a draft Beneficiation Strategy for the minerals industry of South Africa in March 2009. The newly-formed African Gemstone Producers Connection (ADPA) is advocating creating a joint plan that could support beneficiation across Africa. This could lead to fewer hard goods being made available on the open market and in building a threat to the existing diamond handling centres such as India, as new control centres comes up.

Global Economic Slowdown

The global monetary slowdown has struck the Indian gems and jewellery sector hard. As the sector was primarily reliant on exports to the US and Europe, the meltdown in these countries affected the gems and jewellery sector to a great scope. The players faced issues relating to inventory build-up and liquidity pressure. Several diamond systems in Gujarat were turn off that rendered thousands of workers jobless. Further, the lender finance, which was largely in dollar terms, also faced a setback anticipated to forex rate fluctuations. This further added to the woes of the players who have been struggling to come out of the global recession.

Even although sector is in the recovery mode, due to a gradual restoration of global market segments, the credit pattern of the sector has altered significantly. The delayed repayments from customers have raised the eye outflows for the firms.

Synthetic Diamonds

The sector also encounters a challenge in the form of integration of man-made or man-made diamond jewelry. With the advancement of technology, it is difficult to differentiate between natural and fabricated diamonds. It may so happen that the man-made diamonds are passed on as real diamond jewelry and in the long run, this could affect the credibility of the sector. Further, as fabricated gemstones are much cheaper and similar to the man-made diamond jewelry, these diamonds may find a clientele that is a alternative to the natural diamonds and may finish up eating into the market talk about of the diamonds industry.

Issue of Turmoil Diamonds

India is the most significant importer of harsh diamonds and a respected player in trimming and polishing of the same, therefore, it works the risk of dealing with conflict gemstones. Conflict diamond jewelry are the ones that are mined illegally in African countries such as Angola, Liberia, Sierra Leone and the Democratic Republic of Congo to invest in illegal armed service wars. Regardless of the KP official certification, there are issues related to fraudulent KP certificate. These false certificates put diamonds importing countries at a risk of dealing in conflict diamonds.

Opportunities for the Gem and Jewellery Sector

Entering New Markets

The US has been the major market for Indian gems and jewellery sector over time. However, with the existing global slowdown, the reliance on the united states market has affected the Indian gems and jewellery sector greatly. The sector is checking out new locations to diversify business and also to minimise the chance. Russia, Midsection East and China are several emerging areas that are witnessing a rise in jewellery demand. The Indian gems and jewellery players can touch these countries to diversify and increase their business.

Cutting and Polishing of Large-Sized Diamonds

India is one of the leading diamonds control centres of the world. India's great, low cost and intensely skilled labor force provides it with a competitive edge over other countries. However, it is mostly involved in lowering and polishing of small-sized diamond jewelry, which weigh less than one carat. India's slash and polished gemstone exports have a high global share in conditions of amount of portions; however, in terms of value the talk about is a lot lower. By moving up the value string and processing greater stones India can further increase its value share in total exports. Large gemstones are less commonly within nature, therefore, the price of a diamond increases exponentially using its size. Indian exporters who have dominance in processing of small rocks have already began moving into trimming of large and medium size stones. For moving up the value chain, the industry should try onward and backward integration. Hence tactical alliances with providers of roughs and merchants of jewellery could lead to higher market show.

Given India's low priced and skill labours, there is a chance for processing large stones, that may provide the players with higher margins as well as rise in realisations on capex.

Value Addition

There exists a huge chance of Indian players to do value addition to the refined diamonds also to export diamondstudded jewellery. India is already a leader in digesting small-sized diamonds looked after has inherent capacities of making hand-crafted jewellery. Further, with its dominance in digesting small gemstones, India comes with an advantage of developing affordable diamond jewellery for the earth market.

Jewellery Retail

The Indian retail sector is growing rapidly. This provides an excellent opportunity for the Indian players to make and sell their jewellery through the retail programs that are fast finding up in the Indian markets. Further, this move will provide an organised composition to the typically unorganised gems and jewellery sector and lead to further expansion of the sector.

Outsourcing Hub

India can become an outsourcing hub for developing and making jewellery. There is an increased style of outsourcing planning and creation of jewellery from India by global retail players such as Wal-mart and JC Penny. The players in the sector can tap this chance to diversify business, reduce risk and increase income.

Outlook

The prospect for the gem and jewellery sector is positive. Due to the global recovery, the Indian gems and jewellery sector is also over a recovery mode. In Dec 2009, the exports from the sector grew by 45. 35% in comparison with the same period in 2008. According to GJEPC, the players received good requests for Christmas in 2009 2009, which suggests a gradual recovery for the sector. The positive tendency is likely to continue, as major economies are displaying signs of recovery, which is resulting in fresh requests for the sector.

Further, the gems and jewellery sector is also likely to expand in the domestic market, going forward. As the per capita ingestion of jewellery is low in India, there is an attractive chance to tap the home market.

Research OF DISTRIBUTION Stations IN VARIOUS SECTORS

The project involved analyzing and assessing distribution channels of varied companies owned by sectors like:

1. Precious and semi important stones,

2. White goods,

3. Cement,

4. FMCG

Methodology: -

This research comprised of activities like listing down various firms like manufacturers, distributors, etc and also chambers and libraries like the Indian vendor chambers and interacting with them in order to gather first hands information.

Intoduction

The Indian Gems and Jewellery industry is an years old industry and includes mainly of two types of marketplaces, viz the structured sector and the unorganized sector. The structured sector with top quality jewelers, People Sector Products (PSUs), etc forms only 10% of the precious and semi-precious stones market, whereas, the unorganized sector sorts 90% of the gems and jewellery market in India. The unorganized sector uses around 1. 5 million employees providing over 0. 1 million platinum jewelers and over 8000 diamonds jewelers. Precious and semi-precious rocks industry is a substantial earner of foreign exchange. This sector contributes around 17% of India's exports. The majority of the Indian gems and jewellery exports consist of imports of harsh diamonds, reducing and polishing in India, and re-exports. Slice and Polished Diamonds

(CPD) and precious metal Jewellery account for practically 95% of India's gems and jewellery exports. India is the world's leading diamond trimming and polishing center, accounting for 53% talk about of the global refined diamonds market in conditions of value. India imports silver from South Africa, Switzerland, Australia, Hong Kong and UAE.

The domestic usage of gemstones have been 626. 9 crores in 2001-02 to 483. 4 crores in 02-03 and come to and everything time high of 1771. 3 crores in 2003-04 and the tendency has continued in 2004-05 as well. The marketplace size has also witnessed a growth of around 10% in 2003-04 over 2002-03. The value of domestic sales has been 7200 crores, 7400 crores and 7650 crores in 01-02, 02-03 & 03-04 respectively. Exports of chop and polished diamonds has been 5892, 7385 and 8240 million dollars in 01- 02, 02-03 & 03-04 respectively, whereas, exports of Jewellery studded with diamond jewelry has been 553, 719 and 934 million dollars in 01-02, 02-03 & 03-04 respectively.

There is a very high consumption in the traditional western and the north market segments of India, viz, Mumbai and New Delhi, New Delhi being the first choice. In India, the purchase of Jewellery is quite seasonal and occasion influenced. There's a higher utilization during festivals like Diwali, Dassera, Ganesh Chaturthi, etc. and also through the matrimony season, which is multiply from November to March.

Mechanics of Circulation Programs of Sector

Since treasured and semi precious stones industry is divided into arranged and unorganized sector, the mechanics of the syndication programs of the players belonging to these sectors in addition has been different. Domestically, the branded jewelers of the arranged sector focus on the consumers via a 1 or a 2 level supply chain which comprise of either only franchise retail outlets and other retails or wholesalers and then vendors. The players of the unorganized sector, on the other side, either plainly sell their manufactured products to retailers or have branch office buildings in cities where in fact the products are moved and sold to get rid of consumers or even to retailers in the particular city.

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December 2005 Copyright 2005 Bee Management Consultancy Pvt. Ltd. 2 Organic gemstones and other Jewellery is brought in from sources, produced and refined here and either transported or carried by air to the final destination In exported countries the merchandise are either used in suppliers who are clients or even to branch office who subsequently sell it to the suppliers. Whether local sales or exports, overall, the degrees of intermediaries in the gems and Jewellery industry do not necessarily exceed 2 to 3 3 levels.

 

PESTEL analysis of Jewellery Industry

The macro environment includes all relevant concentrate outside a company's restrictions relevant in thesense that they are important enough to possess brought on your decision. An industry ultimately makes aboutits business design and strategy. Why many forces in the micro environment are beyond a company's sphere of affect?Company's strategy may be needed for answer it. Micro environment includes all standard force that do not directly touch on the short run activities of the organization but that can and often will, in dulgenceits also ran decisions.

Political Factors:-

The Government of India (GoI) has been working to develop the Gemstone industry in India through several initiatives but under the purview of Gem industry. The primary politics factors are the following.

  • Excise obligation: Inside the budget of 12 months 2008-09 administration reduce excise obligation from 10% to 5% on trim and polished gemstone units.
  • Marketing and control orders: Import of rough gemstones controlled by the Jewellry export Promotion Councils. The Council provides market information to its people regarding overseas trade questions, trade and tariff regulations, rates of import tasks, and information about Diamonds fairs and exhibitions.
  • FDI acceptance: India is currently the third most favored destination for Foreign Direct Investment (FDI), Government of India may enables 49% of FDI in the Gem industry. FDI of $ 2 billion are committed to terms of working capital in the industry.
  • Government insurance policies and taxation: From January 1, 2008. It includes made the import of polished gemstones completely duty free. To lessen the business deal cost for the gemstone sector, testing center at International Gem Laboratory (IDL), Dubai, has been contained in the list of laboratory/certifying organizations.

Trade Coverage for Diamond

Replenishment Licences:

The exporters of jewel and Diamond products are entitled for REP licence as per rates suggested in the Handbook of Techniques. Such licences are transferable.

Diamond Imprest Licence

:Diamond Imprest Licences are released beforehand for transfer of rough diamond jewelry as well as for export of slashed and polished diamonds. These licences or the materials brought in against them may be freely transferred following the export responsibility has been satisfied.

Bulk Licences for Abrasive Diamonds:

Bulk licences for rough diamonds are allowed to any exporter whose total annual average f. o. b. value of exports of slice and polished diamond jewelry during the preceding three licensing years was not less than Rs. 75crores and iv) any abroad Company with its branch office in India whose gross annual turnover in diamond through the preceding three licensing years is not less than Rs. 150 crores.

  • Import of uncooked material (difficult diamonds) is highly affected by conflict and global market conditions.
  • Fund contribution: According to current scenario to help ease the liquidity problem in diamond industry the duty power constituted by RBI. . Job Drive may propose requesting banks to funding diamonds manufacturers especially small and medium ones against their stock of refined diamonds.

Economic factors:-Per capita consumption

: Per capita consumption electricity of customers may highly have an effect on diamond rings purchase. India`s per capita income is likely to grow more than double during the last seven years, to Rs38, 084 in the current fiscal, reflecting improvement in the living specifications of the average Indian.

  • Per capita income, in line with the advance estimates for nationwide income is expected to grow by14% through the current fiscal.
  • However, after discounting for inflation, per capita income is expected to climb to Rs 25, 661representing an increase of 5. 6%.

National income

As & when the national income of the people of any country increase it'll indirectly leads to more investment in diamonds rings or ornaments.

State board legislation:

Gujarat federal government declares various polices.

Custom Act:

In the Union Budget (2007-2008), custom obligation on chop & polished diamond jewelry was reduced to3% from 5%. The Council possessed made several representations to Federal government on the exemption of custom responsibility on slice & polished diamond jewelry.

Social factors:-

Emergence of retail org. makes people aware of diamond as an extravagance product or an investment option.

  • Emergence of alternative: Diamond Gem is preferred by consumers with upsurge in the price silver.
  • Changing consumer personal preferences: with the upsurge in standard of living consumer preferencechange from silver Diamond to diamonds Diamond, it is also considered for status symbol.

Technological factors:-

  • As diamonds industry make an effort to moving up into the value chain they are really centering more on they use top quality equipments.
  • Technology alternatives are also designed for production control, supply string and inventorymanagement in the Diamonds industry. The Special Economic Areas and Gemstone Parks developed in various expresses offer technology-enabled conditions that are conductive to expansion and quality development.

Environmental Factors:-

This section pulls on literature relating to the general environmental influences associated with ASMand related control activities, and - where available - specific information relating to the creation of gemstones. In relation to environmental impacts of ASM and gemstone ASM in particular, the situation ineach country ranges according to the kind of gemstones being exploited, the public and environment of the area and ethnic and organizational aspects of the mining procedure itself.

  • Exploration
  • Underground Extraction
  • Surface Extraction

River Dredging Due to the unique geological dynamics of gemstone deposits, whereby mineralization is localised in small wallets, control of mined gemstones differs in one gem to some other. Generally, however, the handling of gemstones that occur as specific crystals includes hand sorting with the aid of the aesthetic characteristics of the gems (fluorescence, stand out, colour). Typically, no equipment is utilized in this process. Normally, such parts recovered during hand-sorting in the pits and trenches still need

Legal Factors:-

Trade Facilitator:

The Council undertakes direct promotional pursuits like organizing joint involvement in international Gemstone shows, mailing and web host trade delegations.

Advisory Role:

A crucial section of activity of the Council in addition has been assisting better connection and understanding between your trade and the government.

  • Nodal Company for Kimberly Process Certification Plan: GJEPC has been appointed as the Nodal Organization in India under the Kimberly Process Official certification Scheme.
  • Training and Research: The Gems & Gemstone Export Campaign Council runs lots of institutions that provide regular and part-time trained in all areas of production and design inMumbai, Delhi, Surat and Jaipur.

Boosting Exports:Among the list of promotional activities GJEPC undertakes for the sector is theorganising of joint involvement of member - exporters in a few important international exhibition fine sand sets up promotional stalls in others.

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