Proverbially, two of a trade seldom agree; but for once, so many of them have unanimously predicted that precious future belongs to Jewellery - not the run of the mill common product but the special branded variety. I was in Dubai, popularly called the Gold Capital of the World when its third International Conference on the subject was convened in February 2005. Acknowledged experts and business notables converged on the Gold Capital to debate and decide the future of the gems and jewellery sector, the producer of fascinating, adorable jewels, yet which it seems is fighting a losing battle in the luxury goods segment. While other luxuries such as perfumes and watches are claiming nearly a 10% slice of the cake, jewellery is lagging far behind. However, far sighted observers of the precious sector, could foresee the silver lining. Yes, jewellery, the latest branded variety can put in a far larger claim of sharing the luxury market, but not with the prevailing complacency. It has to be aggressively publicized and promoted to catch the fancy of the younger generation that is being enticed by so many other attractions that are being pushed across by vigorous advertising. Let me add here jewellery as a means of salting away surplus funds is losing interest even in traditional India; because so many other instruments for gainful investment are readily available now, that guarantee safety of invested money as well as reasonable liquidity. But a newly unfolding trend that has become evident in recent times is jewellery for fashion. Latest trendy jewellery is being patronized by fashionable society and it is also being purchased repeatedly with changing fashions. In this scenario enters branded jewellery - produced mainly by the Diamond Trading Company (DTC) Sight holders who are the top most Suppliers of Choice, and strongly promoted by the De Beers. Since this branded jewellery contains beautiful diamonds and selected colored gemstones that transform it to dreamy jewels, polished gemstones, exported loose earlier, have started playing a second innings as studding in sparkling branded jewellery that is not only captivating to look at, but is guaranteed value wise as it comes from renowned jewellery houses and has the additional backing of a global giant like De Beers. Still, it was felt and stated by shrewd trade leaders at Dubai that branded jewellery needs much more promotional and publicity support to push it up in the luxuries segment. Acceptance of this realization resulted in a substantial offer of US$ 1 million by the Dubai Gold Group for a publicity pool to be got together with cooperation of the biggest operators of the precious world for vigorous promotion of jewellery sales. Wholesale labrorite Jewellery
Besides fast track progress in jewellery exports and inland sales, India is the top notcher in diamonds. Its latest tally of 60% by carat weight, 80% by volume and 90% in terms of polished pieces, it has virtually become the uncrowned diamond king. It is a meteoric leap from a very modest beginning some 40 years ago. It is no more a floor- squatting, hand­ wheel pulling cottage industry. Over the years of phenomenal prowess and progress, India has given a modern, scientific infrastructure to the gems and jewellery sectors with huge processing factories equipped with state-of-the-art laser technology, automatic machinery and computerization. Besides these essentials, world-class testing and certification Labs 'as well as latest training facilities have been provided for the huge workforce. Several Export Processing Zones have been established at various places for exclusive production for exports. Even the retail inland sales network is undergoing transformation from traditional jewellery shops to modern Malls providing a variety of selected goods and services under one roof. One more multi-pronged initiative taken by the Indian gems and jewellery sector is much needed promotional exercises. While dynamic Indian gems men are regularly attending international fairs and expos abroad, several inland exhibitions are also being organized that offer exposure to the latest Indian innovations and choicest goods being produced here. A number of promotional contests are also being held, in the country with the help of De Beers, World Gold Council and private organizations. Rio Tinto also helped India in getting a foot hold in USA through its Indo-Argyle Diamond Corporation. Wholesale moonstone Jewellery
Looking inwards a DTC study recorded that only 10 percent of Indian women preferred diamond-studded jewels as their preferred items of jewellery. A decade later this figure has grown to 43 per cent! No wonder Antwerp based observers have commented recently that "India now attracts diamond industry's attention as a growing diamond jewellery market."
With so much production of polished diamonds and a rapidly developing diamond jewellery industry, the world wide shortage of diamond rough is also being felt by India and prices are going up. Even the DTC has revised its rough prices upwards by 3% for Sight goods in 2005. To consider the vitally important matter of rough shortage and various other burning problems, the Gems & Jewellery Export Promotion Council (GJEPC) is organizing its second 'Mines to Markets' Global Diamond Conference at Mumbai in May, 2005.
Quite interestingly, there are independent observers who hold the view that if this dear old earth could cough up more diamonds and the mining, marketing giants channalize more roughs to India, this country is capable of producing more wonders, after its historic revolution of democratizing diamonds in the second half of the last century. Wholesale turquoise Jewellery
After this brief update on the latest developments, let us glance back for the sake of retrospection, which gives the correct perspective to all that India has been able to achieve in its historical first innings as well as the current, post-renaissance second work out.

Fast-track Growth & Expansion:
During the last fifty and odd eventful post-independence years, through which the Indian gems and jewellery sector has re-emerged as a great force in the

precious world, is it not astonishing that a floor-squatting country has become a global internet, website supplier and e-commerce trader today?
Over this modern period, Indian gems and jewellery sector has contributed handsomely to employment and exports, so much so that today it accounts for nearly 20.00 per cent of the total outflow of finished goods from the country. Hundreds of thousands of men and women employed by the diamonds, Jewellery and colored gems industries number over one and a half million-more than the total workforce of all other gems and jewellery manufacturing countries taken together growth and progress are all the more noteworthy when we look at the historic turn when won freedom in the year 1947. While it brought joy and unlimited hopes for all sectors of industry and trade, the domestic gems and jewellery sector stood friendless with the future confronting it with a big question mark. The reason?
It may be recalled that when an independent India opted to become a Democratic Republic, the transformation not only banished the ruling British Royalty but also eliminated the Indian Princely States and Maharajas. Consequently the gems and jewellery sector found itself in doldrums sans clientele, because previously its goods were patronized mainly by the Indian Maharajas and the elite. Their fading away created a big void.
For sometime the Indian gems sector also stood somewhat depleted because many skilled artisans and jewellers migrated to newly formed Pakistan following partition of the country.

Global Efforts:
After marking time for a while, enterprising Indian gems men hit upon the idea of exporting cut and polished gemstones and some traditional jewellery. Jaipur had already started exporting colored gemstones, after excelling in processing emeralds. Precious entrepreneurs at Mumbai (then Bombay) picked up diamonds with the support of the international cartel, De Beers. For exploring foreign markets and establishing trading contacts with counterparts across the seven seas, some pioneers from Jaipur and Mumbai ventured abroad. At the same time they organized the precious sector at home in such a way that it could fulfil expected foreign demand.

Exports Begin:

Cut and polished diamonds, colored gemstones and processed pearls started trickling out to some overseas destinations in the early sixties. The progress was rather slow initially. It was then that the Government of India realized the export potential of this sector and an officially sponsored apex body, the Gem & Jewellery Export Promotion Council (GJEPC) was launched in mid-sixties to guide and help the gems and jewellery sector. Thereafter the gems sector gathered momentum in exports as well as inland proliferation.
Meanwhile the Government of India banned the import of polished diamonds, which were being sold in the country. Since rough diamonds continued to flow in, the gems sector stepped up cutting and polishing. This initiative ultimately proved helpful for exports as well.
'Democratizatlon' of Diamonds:

What is especially noteworthy is the fact that India turned over an entirely new leaf and wrote an astounding chapter. It may be recalled that in bygone days, India was of course the top-­notcher in the world of gems and jewellery but then tastes were very. different. Costly, heavy handcrafted, gems-studded jewellery was in vogue and India specialized in making it. Fabulous pieces were patronized by not only the Maharajas and Maharanis, but were also offered to deities in the famous temples. But with independence, the old order changed yielding place to new, which had a very different taste for lighter and innovative jewellery. For a number of years India contributed only the processed gemstones which went into modern jewellery, manufactured in foreign countries. So popular and affordable became India's tiny diamonds that the USA commented once: "India has democratized diamonds !" Similarly colored gems, cut and polished in Jaipur particularly, were flowing out to world jewellery centres. India had the advantage of low wages, hence it could afford to process smalls.

Modernzation of Gems Industry:

Keeping pace with changing times and spurred on by widening competition from new players, especially from other low-wage countries, Indian gems men switched over to mechanization and new technology for better and more production, which also meant better working conditions and healthier environment for the artisans. Today even state-of-the-art high-tech laser technology has reached India which can boast of not only some ultramodern processing factories, but also fabrication of modern machinery-indeed a revolution for a country where the hand-driven wheel used to be the only equipment for cutting and polishing, along with some primitive, crude manual tools.

Timely Diversification:

Yet another positive step of far-reaching significance was taken in the last decade when it was realized that by taking on large scale modern jewellery making, India could keep home the added-value which accrues when Indian processed gems are studded into machine-made jewellery overseas. The Government of India declared jewellery as the thrust item for exports. India's & dynamic diamantaires took the lead in establishing export-oriented modern jewellery manufacturing units, equipped with the latest high tech equipment in India, some of those being joint ventures with overseas manufacturers. Other jewellery makers also joined hands. Jaipur too has followed suit and is now manufacturing modern jewellery, some with foreign collaboration also. Soon a jewellery boom resulted.

Today India is regularly exporting gems-studded as well as plain gold jewellery worth millions of dollars to many countries. Additionally, well-established jewellery houses have started manufacturing and retailing branded jewellery within the country. The country has launched its first chain of jewellery stores across the length and breadth of the land. Hallmarking to guarantee the purity of gold content is the latest move.
Another addition to India's jewellery industry is the diversification for expensive platinum jewellery, but it is being produced mainly for exports because for the local jewellery loving women who patronize white jewellery, low-cost silver jewellery is available everywhere."

Rough Diamond Trading:
The latest venture which India has undertaken is international trading in rough diamonds, which promises to develop into a flourishing trade, may be with more diamonds expected to be mined in India itself as the world giant De Beers has started diamond prospecting in India in several States and the Hindustan Diamond Co. Pvt. Ltd. has become its partner.
Official Support :
The Government of India may have been slow in granting facilities and adopting congenial policies previously, but lately it has cooperated and supported the forex earning gems and jewellery sector. It has been revising and streamlining many of its earlier policies.
Many public sector and private banks are also financing the Indian gems sector for exports.

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