A PROJECT REPORT ON

A STUDY ON THE CONSUMERS PREFERENCE TOWARDS

BRANDED JEWELLERY

SUBMITTED BY

MS. RAGINI N GANGURDE

T.Y.BMS SEMESTER V (2013- 2014)

PROJECT GUIDE

PROF. ARCHANA MENONUNIVERSITY OF MUMBAIRAMNIRANJAN JHUNJHUNWALA COLLEGEGHATKOPAR WEST MUMBAI - 400086

DECLARATIONMr. / Mrs. RAGINI N GANGURDE Student of T.Y.B.M.S (2013 2014) of Ramniranjan Jhunjhunwala College, Ghatkopar (W), Mumbai 400 086 do Hereby declare that I Have completed the project work titled A STUDY ON THE CONSUMERS PREFERENCE TOWARDS BRANDED JEWELLERY as a part of my academic fulfillment.The information contained in this project work is true and original to the best of my knowledge and belief.Date: _______________ __________________________

Signature of studentCERTIFICATEProf. ARCHANA do hereby certify that, Mr. / Mrs. RAGINI N GANGURDE Student of T.Y.B.M.S. (2013-2014) of Ramniranjan Jhunjhunwala College, Ghatkopar (W), Mumbai 400 086 has completed the project work on A STUDY ON THE CONSUMERS PREFERENCE TOWARDS BRANDED JEWELLERY as a part of the academic fulfillment, under my guidance.The information contained in this project work is true and original to the best of my knowledge and belief.

_______________________ ___________________Signature of the Signature of the Project Guide Principle__________________________Signature of ExaminerACKNOWLEDGEMENT

I take this opportunity to extend my profound sense of gratitude and heartfelt appreciation to Prof. Archana Menon For their guidance at all stages of my project, I would like to thank for their annotations and suggestions during the development of this project and also for taking out time from their busy schedule.

Prof. Dr. Usha Mukundan. Principal: Ramniranjan Jhunjhunwala College.

Prof. K. Selvi Nadar BMS Co-co-ordinator, Ramniranjan Jhunjhunwala College.

Finally I would like to sincerely thank all those who were directly or indirectly involved in this project. To sum it all I would like to say is.

Your experience and co-operation along with my efforts has helped me to successfully complete this project.Date: _________________ ______________________ RAGINI N GANGURDEExecutive summarySociety is diversified in all aspects. We see this among consumers, marketers, producers and even among consumer behavior from their theoretical aspect. The study of consumer behavior enables market to predict a consumer behavior in the market, it also produce understanding of the role that consumption has in the lives of individuals. Consumer behavior is defined as a behavior that consumer display while searching for purchase, using evaluation and disposal of products, services and ideas that they use to satisfy their needs.In India, jewellery is religion; Indias love affair with jewellery is timeless, spanning centuries and millennia

In India, it always was and still is, much more than just a precious metal. It is peat of the fabric of our culture and an inseparable part of our belief system. It is the essence from which the universe was created in a dark and lifeless universe; the creator deposited a seed in the waters he had made from his own body. The seed become a golden egg bright and radiant as the sun from this cosmic egg of gold was born the incamation of the creator himself Brahma from the root word hrimeaning imperishable, comes Hiranya the ancient name for gold Brahma is referred to as Hiranyagarbha-the one born of goldIn Hindu mythology, some of our goddesses are described as golden hued, the ultimate in beauty. Gold, as the basis of so much purity beauty, is referred to as the seed of Agni, the god of fire. Manu the ancient law- giver decreed that golden ornaments should be worn for specific ceremonies and occasions. Mythological tales tell us how our gods and goddesses rode on golden chariots. Gold has always been considered a sacred item in the Hindu way of life and is a must in every religious function, the explanation being that gold is pure having passed through fire in its process of evolution to jewelleryIndia is estimated to hold more than 11,000 tones of gold. Gold is the only item that permits every strata and class of the India society it is equally sought by a wealthy urban businessman or a poor farmer in a village.

Gold jewelery is mainly acquired all over India for the Diwali Festival. Religious festival are also very important occasion for the purchase of gold, for example Onam and pongal in the south. And Durga Puja in the east.The Indian Hindu calendar even has auspicious days to buy gold during these festivals like Dhanteras & dassera in rural India, harvest festival are big occasions to buy gold, and the farmers are flush with money.In the Indian society, the custom of gifting gold in marriages is deeply ingrained. So much that families of average means start saving soon after their children are born-for stridhan. Gold gifted to the bride is called stridhan and that is exclusively her property in her new house.Jewellery to us Indian is that ultimate love object. Not only does it adorn our bodies, it also acts as a good investment gold is ancestral it has a tendency of getting passed down from generation to generation.So for Indian at least, gold will never lose its sheen In fact the mentality is so possessive for gold that it will be sold as a last resort only and before that most of the other assets will be liquidated.

As will be amply highlighted in the project, how there is a change in the buying of jewellery in the customer as he/she is moving slowly from traditional jewellery to branded jewelleries which gives him/her a status and a sense of pride in wearing the jewellery.

INDEX

Topic Page No.

Introduction 9 - 12

Branded jewelery 13

Non Branded jewellery 14

Asumption of the study 15

The emergence of branded gold jewellery 16

Gold Jewellery Market in India 17

TOP 10 JEWELLERY BRANDS IN INDIA 18 - 28

4 Cs of diamond 29 - 32

History of Indian Jewelry 33 - 34

Jewellery Making In Different Regions 35 - 41

(a) India: 35 - 38

(b) Egypt 38 - 39

(c) Greece 40 - 41

Jewels For Jewellery 42 - 44

Gold Control Act 45

White Gold and Platinum 46 - 49

Impact on Society 49 - 50

(a) Ancient 49

(b)Modern 50

Jewellery Market 51

Indian jewellery industry 52 - 56F

Questionnaire 57 - 58

Findings 59

Conclusion 60

Bibilography 61

INTRODUCTIONTill the early 1990s, the average Indian bought jewellery for investment rather than for adornment. Jewellery made of 18-karat gold was not favored as it was considered a poor investment.

Confidence in the local jeweler was the hallmark of the gold jewellery trade in India. A jeweler or goldsmith in a local area had a fixed and loyal clientele. The buyer had implicit faith in his jewelery. Additionally, the local jeweler catered to the local taste for traditional jewellery.

However, since the late 1990s, there was a shift in consumer tastes: women were increasingly opting for fashionable and lightweight jewellery instead of traditional chunky jewellery. There was a rise in demand for lightweight jewellery, especially from consumers in the 16 to 25 age group, who regarded jewellery as an accessory and not an investment. The new millennium witnessed a definite change in consumer preferencesBranded jewellery also gained acceptance forcing traditional jewelers to go in for branding. Given the opportunities that the branded jewellery market offered the number of gold retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, Kisna and carbon opened outlets in various part of the country. Traditional jewelers also began to bring out light weighted jewellery, and some of them even launched their in-house brands. However, the share of branded jewellery in the total jewellery market was still small (about Rs.10 billion of the Rs. 400 billion per annum jewellery market in 2002), though growing at a pace of 20 to 30 percent annually. The branded jewellery segment occupied only a small share of the total jewellery market because of the mindset of the average Indian buyer who still regarded jewellery as an investment Moreover, consumer trusted only their family jewelers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset of the people customers with attractive designs at affordable prices.However branded jewellery players will continue to face lot of competition from local jewelers. In order to gain market share, they will have to come up with designs that customers want and win the trust and confidence of consumers by hallmarking and demonstrating the purity of the gold used by them.To compete with traditional players, branded players must also find some way to differentiate themselves. While the success of a particular brand will depend on differentiation, affordability and quality will be a key element in sustaining a brand

In addition, branded players require focused advertising and astute salesmanship to compete with traditional jewelers. Besides the major brands- Tanishq, Carbon, Oyzterbay, Kisna and Trend smith - several regional players have opened branches to leverage the trust and reputation that they have built up over the years

Customer

A customer (also known as a client, buyer, or purchaser) is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration. Customers are generally categorized into two types: An intermediate customer or trade customer who is a dealer that purchases goods for resale

An ultimate customer who does not in turn re-sell the things bought but either passes them to the consumer or actually is the consumer.

A customer may or may not also be a consumer, but the two notions are distinct, even though the terms are commonly confused.A customer purchases goods; a consumer uses them. An ultimate customer may be a consumer as well, but just as equally may have purchased items for someone else to consume. An intermediate customer is not a consumer at allGeoff Tennant, a Six Sigma consultant from the united kingdom, uses the following analogy to explain the difference: a supermarkets customer is the person buying milk at that supermarket, a non-customer is buying milk from a competing supermarket, whereas a non-customer doesnt buy milk from supermarkets at all but rather has milk delivered to the door in the traditional British wayPERCEPTIONPerception (from the Latin perception, percipio) is the organization, identification, and interpretation of sensory information in order to fabricate a mental representation through the process of transduction, which sensors in the body transforms signals from the environment into encoded neural signals.Perception is not the passive receipt of these signals, but can be shaped by learning, memory and expectation.

Perception involves these top-down effects as well as the bottom-up process of processing sensory input. The bottom-up processing is basically low-level information thats used to build up higher-level information (i.e.- shapes for objects recognition). The top-down processing refers to a persons concept and expectations (knowledge) that influence perception. Perception depends on complex functions of the nervous system; it subjectively seems mostly effortless because this processing happens outside conscious awareness

Since the rise of experimental psychology in the late 19th century, psychologys understanding of perception has progressed by combining a variety of techniques. Psychophysics measures the effects on perception of varying the physical qualities of the input. Sensory neuroscience studies the brains mechanisms underlying perception. Perceptual systems can also be studied computationally, in terms of the information they process.

The perceptual systems of the brain enable individuals to see the world around them as stable, even though the sensory information may be incomplete and rapidly varying. Human and animals brains are structured in a modular way, with different areas processing different.BRANDSA brand is a Name, term, design, symbol, or any other feature that identifies one sellers good or service as distinct from those of other seller. Branding began as a way to tell one persons cattle from another by means of a hot iron stamp.

The word brand is derived from the Old Norse brands meaning to burn it refers to the practice of producers burning their mark (or brand) onto their product

Brand is the personality that identifies a product, service, or company (name, term, sign, symbol, or design, or combination of them) and how it relates to key constituencies: customers, staff, partners, investors etc.

The experiential aspect consists of the sum of all points of contacts with the brand and is known as the brand experience. The brand experience is a brands action perceived by a person. The psychological aspects, sometimes referred to as the brand image, is a symbolic construct created within the minds of people, consisting of all the information and expectations associated with a product, service or the companies providing them.

The oldest generic brand, which is in continuous use in India, since Vedic period, 9000-10000 years ago, is known as chyawanprash. It is widely used in India and many other countries and is an herbal paste of 45 herbs made for reversed rishi named chyawan. This brand was developed at doshi hill in north India, on an extinct volcanic hill.

The Italian was among the first to use brands, in the form of watermarks on paper in the 1200s.

Branded JewelleryBranded Jewellery provides Name & reputation and gives a confidence to the consumers. It comes with a written lifetime guarantee, considering the emotional quotient of the consumer Excellent quality, good selling policies and backup services for jewellery Has a more contemporary stylish and classic outlook, which easily segments itself among the traditional ones Available at multiple outletsNon-Branded JewelleryNon branded jewellery is the jewelleries wherein Customer can tailor make jewellery according to their preferences. Non- branded jewellery has No written lifetime guarantee, trust is purely based on consumer. Minimum efforts in packaging, finishing, sales & low advertising Is usually bulky & traditional. Available only in traditional jewellery outlets

Assumption of the study The income level of the buyers is same

The expectations of the buyers from the jewelers remain the same in every situation

Buyers make purchases only during some occasion like marriages, gifts, etc

More of female buyers are inclined towards the new designs introduced by the branded jewelers.

The selection of jeweler also depends upon the geographical location of buyer The knowledge about the branded jewelers is due to the advertisements floating on air.

The price of gold and other precious stones also play a significant role in the purchasing procedure.

The emergence of branded gold jewelleryIn the late 1990s, the Indian jewellery market witnessed a shift in consumer perceptions ofjewellery. Instead of being regarded as only an investment option, jewellery was being prized for its aesthetic appeal. In other words, the focus seemed to have shifted from content to design. Trendy, affordable and lightweight jewellery soon gained familiarity. Branded jewellery also gained acceptance forcing traditional jewelers to go in for branding

Given the opportunities the branded jewellery market offered; the number of gold retailers in the country increased sharply. Branded players such as Tanishq, Oyzterbay, Kisna and Carbon opened outlets in various parts of the country. Traditional jewelers also began to bring out lightweight jewellery, and some of them even launched their in-house brands.

However, the share of branded jewellery in the total jewellery market was still small (about Rs.10 billion of the Rs. 400 billion per annum jewellery market in 2002), though growing at a pace of 20 to 30 percent annually

The branded jewellery segment occupied only a small share of the total jewellery market because of the mindset of the average Indian buyer who still regarded jewellery as an investment. Moreover, consumers trusted only their family jewelers when buying jewellery. Consequently, the branded jewellery players tried to change the mindset

of the people and woo customers with attractive designs at affordable pricesGold Jewellery Market in IndiaBefore the liberalization of the Indian economy in 1991, only the Minerals and Metals Trading Corporation of India (MMTC) and the State Bank of India (SBI) were allowed to import gold. The abolition of the Gold Control Act in 1992, allowed large export houses to import gold freely Exporters in export processing zones were allowed to sell 10 percent of their produce in the domestic market. In 1993, gold and gold ornaments mining were opened up for private investors and foreign investors were allowed to own half the equity in mining ventures. In 1997, overseas banks and bullion suppliers were also allowed to import gold into India. These measures led to the entry of foreign players like DeBeers, Tiffany and Cartier into the Indian market. In the 1990s, the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act. This led to a highly fragmented and unorganized jewellery market with an estimated 100,000 workshops supplying over 350,000 retailers, mostly family-owned, single shop operations. In 2001, India had the highest demand for gold in the world; 855 tons were consumed a year, 95% of which was used for jewellery. The bulk of the jewellery purchased in India was designed in the traditional Indian style. Jewellery was fabricated mainly in 18, 22 and 24-carat gold. As Hallmarking was not very common in India, under-carat age was prevalent. According to a survey done by the Bureau of Indian Standards (BIS), most gold jewellery advertised in India as 22-carat was of a lesser quality. Over 80% of the jewelers sold gold jewellery ranging from 13.5 carats to 18 carats as22-carat gold jewellery. The late 1990s saw a number of branded jewellery players entering the Indian market. Titan sold gold jewellery under the brand name Tanishq, while S.P.Jewellers Jewels, a Mumbai-based jewellery exporter, sold 18-carat gold jewellery under the brand name Kisna. S.P.JewellersJewels also started selling 24-carat gold jewellery in association with a Thai company, Pranda.Su-Raj (India) Ltd. launched its collection of Gold ornaments and 22 -carat gold jewellery in1997.The Mumbai-based group, Beautiful, which marketed the Tiffany range of products in India, launched its own range of studded 18-carat jewellery, Dagina. Cartiers entered India in 1997 in a franchise agreement with Ravissant. Other players who entered the Indian branded goldTOP 10 JEWELLERY BRANDS IN INDIAThe Indian consumer is changing. More aware, more discerning and wanting the wanting the best of brands, this consumer wants it all and is ready to experiment. It is no surprise then that diamonds as a category has grown tremendously. The past decade has seen a gradual shift towards diamonds. Diamonds are being perceived as being fashionable, trendy and modern. India as a country has always been jewelers-centric. Here is a list of the topmost diamond jewellery brands in India today which women choose to wear

Tanishq:Tanishq is Indias largest most, desirable and fastest growing jewellery brand in India, started in 1995, Tanishq is the jewellery business group of titan industries ltd, promoted by the TATA group. Indias most respected and widely diversified business conglomerate. The name was formed by combining the first two letters from Tata and Nishk (meaning gold coin or necklace in Sanskrit)Having embarked on the retail journey a decade ago, tanishq is the largest jewellery retailer In India. With a strong presence in 70 cities across India, unmatched collections and assured purity, tanishq has quickly become the first choice of discerning customers. Although there are several small scale unorganized jewellery markets, tanishq is the first and only jewellery brand to have organized mass jewellery retail chains across the country.

Nakshatra:Nakshatra is a brand renowed for being the first branded diamond jewellery range in the country and it has produced some great designs. Nakshatra diamonds were launched in the year 2000. Today, the brand has become one of the leading fashion diamond jewellery brands in India, which is patronized by the women belonging to almost all the segments of the society. The reason for this is their amazing designs, combined with the reasonable price range.

DDamas:One of the predominant forces in the jewellery retail franchise sector, Ddamas offers Indians a vast array of world class gold, diamonds and other jewels. Prospective franchisees are sought throughout. Ddamas the flagship brand from the house of Gitanjali Group is one of the largest manufacturers of diamonds in India. Ddamas range compromises ornaments like pendants, earrings, chains, necklaces, bangles, bracelets and sets.

Asmi:Asmi in Sanskrit means I AM It is jewellery for the new age Indian women, celebrating her new found economic & social independence. For her, self indulgence & self rewards are needs that co-exist with her family, social or professional responsibilities. The brands aims to fulfill every womans innate need for self expression while lauding her inner fire. Asmi jewellery has a contemporary delicate and feminine look.

Nirvana:Nirvana is a range of exquisitely crafted diamond jewellery launched in India in 2002 by fine jewellery ltd., one of Indias largest exporters of diamonds jewellery. It has been launched with a view to the new age customer who buys jewellery as a fashion statement, rather than just a mere valuable. It is not just in the field of design that the company has been innovative and contemporary.

Gili:Gili, the first branded jewellery of India, started in 1994 when jewellery was treated as a possession but Gili with the clear image of future needs, shifted this paradigm from occasionally.. To the need of every occasion. A team of people, with a vision and passion to venture into the jewellery market led to the establishment of the brand that you discern, distinguish, and devour as Gili today.

Kiah:Kiah diamond jewellery, from the house of sheetal group, has created an equisite line of jewellery for women. A collection of alluring diamonds studied in white and yellow gold, it is an assortment of pendants, rings and earrings. Designed to depict versatility, each jewellery piece has been created based on in depth research, conducted to find the prevalent design preferences amongst young people.Orra:A light called Orra is a leading diamond jewellery brand of the nation today. A legacy that spanned decades can now be summed up in one word Orra. A word that epitomizes the person it was created for. Her spirit, her grace, her grit and most importantly, the invisible glow that surrounds her persona. It is a brand name that focused on a womans nurturing spirit as well as her soaring ambitions.

Sangini:The Diamond Trading Company announced the launch of its new collection Sangini Diamond Jewellery (SDJ), in the year 2004, the perfect expression of love from a husband to his wife. What better way to express it than through a gift that speaks a thousand words. Sangini understands the delicacy of the emotional bond that exists between a couple and has come out with an entire collection that highlights this emotion.

Adora:Adora diamond jewellery is themed on love and celebration of life. Adora was launched in July 2003 by Mumbai based Concept Jewellery (India) Pvt. Ltd. Adora is now established as an accessible brand, both affordable and high end. In other words, Adora was conceived and launched as a brand with a high aspirational value backed by the highest degree of customer trust.

Diamonds

Diamonds have been a source of fascination for centuries. They are the hardest, the most imperishable, and the brilliant of all precious stones. The word "diamond" comes from the Greek word adamas, meaning "unconquerable".A diamond is a transparent gem made of carbon, one of the earth's most common elements. The formation of diamonds began very early in the earth's history, when the condensation of solid matter into a sphere caused the centre of the planet to become subjected to incredible extremes of temperatures and pressure.History Of Diamonds

It was over 4,000 years ago that the first diamonds were mined in India, in alluvial deposits of the stone along the rivers Krishna, Penner and Godavari.

Diamonds were known in ancient Greece and the Roman empire. Consider the ancient Greeks and Romans who believed diamonds were tears of the Gods and splinters from falling stars.

The Hindus attributed so much power to them that they even placed them in the eyes of the statues of deities.

Not only was it believed that diamonds could bring luck and success, but also that they could counter the effects of astrological events. There were many that wore diamonds as charms believing in their ability to heighten sexual prowess and attract others. Plato even wrote about diamonds as living beings, embodying celestial spirits.

Their rarity, durability and beauty made them popular among midieval royalty.

Today, diamonds continue to hold a deep fascination as the worlds ultimate symbol of wealth.

Modern diamond mining as we know it today began in South Africa in the late 19th century.

The top seven diamond-producing countries, accounting for 80 percent of the worlds rough diamond supply, are Botswana, Russia, South Africa, Angola, Namibia, Australia and the Democratic Republic of the Congo.Early History

The first recorded history of the diamond dates back some 3,000 years to India, where it is likely that diamonds were first valued for their ability to refract light. In those days, the diamond was used in two ways-for decorative purposes, and as a talisman to ward off evil or provide protection in battle.The Dark Ages

The diamond was also used for some time as medical aid. One anecdote, written during the Dark Ages by St Hildegarde, relates how a diamond held in the hand while making a sign of the cross would heal wounds and cure illnesses. Diamonds were also ingested in the hope of curing sickness. During the early Middle Ages, Pope Clement unsuccessfully used this treatment in a bid to aid his recovery. The Middle Ages

During the Middle Ages more attention was paid to the worth of diamonds, rather than the mystical powers surrounding them. Due to the heightened public awareness of the value of diamonds, mine owners perpetuated myths that diamonds were poisonous. This was to prevent the mineworkers swallowing the diamonds in an attempt to smuggle them out of the mines.

The popularity of diamonds surged during the middle Ages, with the discovery of many large and famous stones in India, such as the Koh-I-Noor and the Blue Hope. Today India maintains the foremost diamond polishing industry in the worldAs the Indian diamond supply dwindled, smaller finds occurred in Borneo and Brazil, but these were not sufficient to meet the ever-increasing demand for diamonds. The mid-nineteenth century discovery of diamonds near the Orange River in South Africa sparked the world's biggest diamond rush, and helped to satiate the world's increasing appetite for diamonds. Recent Times

During the mid-nineteenth century, diamonds were also being discovered in eastern Australia. However, it was not until late 1970's, after seven years of earnest searching, that Australia's alleged potential as a diamond producer was validated.On October 2nd 1979, geologists found the Argyle pipe near Lake Argyle: the richest diamond deposit in the world. Since then, Argyle has become the world's largest volume producer of diamonds, and alone is responsible for producing over a third of the world's diamonds every year.

4 Cs of diamondThe4Cs are the 4 pillars on which the quality of the gem depends. They decide the grade and quality of the gem. The 4Cs of gem are

Cut

Clarity

Carat

ColorCut

The beauty of a diamond depends on cut than any other factor. While all the other Cs are largely determined by Nature, cut is the one that can be determined by Man. For this reason, cut is perhaps the most important of the four Cs for us to understand.

Cut refers to the proportions, polish, and symmetry of a stone: these three factors are important in creating a diamond with the best possible light reflection. The angles and finish of any diamond are what determine its ability to handle light, and its brilliance.

When a diamond is well-cut, light enters through the table and travels to the pavilion, where it reflects from one side to the observers eye. This light is the brilliance, and its this sparkling blaze that makes diamonds so captivating.

A poor cut, on the other hand, can cause light to seep out of the sides and bottom of the diamond or it can limit the amount of light that enters a diamond to appear dark, dull and lifeless, despite its colour and clarity grades. This is why cut is the significant factor in the appearance of a diamond.3 Primary effect of cutThe cut of a diamond has three primary effects on appearance: Brilliance.(Brightness of diamond)

Scintillation.(Flashes of light or sparkles)

Fire.(The light that reflects out of a diamond)

Cut GradesIdeal/ Excellent: Excellent light performance.

Very Good: Very good light performance

Good: Good light performance. Reflects most of the light that enters.Fair: Not as brilliant as a Good cut or above

Poor: Poor cut diamond are typically cut too shallow or too deep causing much of the light to leak out of the diamonds sides and base.

TipUnlike the other Cs (carat, colour, and clarity), the various Cut grades in existence today were not originated by GIA, and are not uniformly applied. In fact, GIA has only been assigning cut grades since 2005, and to round diamonds.

ClarityClarity, or purity, is a diamonds ability to let in light and reflect its brilliance. Of the Four Cs, Clarity is the easiest for you to evaluate and the most straightforward to understand.

Clarity GradingThe Gemological Institute of Americas (GIA) International Diamond Grading System is the globally recognized standard for diamond clarity assessment. With 11 grades, the system classifies a diamonds clarity based on the nature, position and size of its inclusion and exclusions. The list below summarizes the GIAs International Diamond Grading System.CaratCarat-WeightA carat is the unit of weight by which a gemstone is measured. The carat-weight of a diamond is the easiest measurement of the 4Cs to determine. Carat-weight is not a factor which denotes the quality of a diamond, but merely its size by weight.The word carat derives from the carob seeds that people used in ancient times to balance scales. Carat is not to be confused with Karat, which is used to indicate the purity of gold. One carat is subdivided into 100 points. Therefore a diamond measuring 75 points is carat in weight, or 0.75ct. There are five carats in a gram.

ColorWhen we speak of colour in a diamond, we actually mean the degree of colorlessness. While most diamonds are white, not all are truly colourless. Many are tinted yellow to brown or silver to grey.In a white diamond, the presence of a tint is considered undesirable. The colour impurity is caused by lingering traces of nitrogen, boron, hydrogen or other elements. Commonly, diamonds are affected solely by nitrogen traces, which create pale yellowish or brownish tints. Only diamonds composed of

100% pure carbon without any impurities may be completely colourless.

Diamonds are graded on a Whiteness scale or absence of colour scale. Basically, the whiter or clearer the colour of a diamond the greater its value.

GradingThe Gemological Institute of America (GIA) has devised a set of guidelines to grade diamond colour. The colour of graded diamonds is compared to that of control stones, which are preselected gems of a specific colour.To be graded, diamonds must be loose stones; because once a diamond is set into metal the metal can affect its colour. Diamonds are placed table-down, pavilion-up and viewed with a 10X loupe under controlled lighting and precise viewing conditions. A lettering system from D to Z is used to identify the amount of colour present in each diamond, with D awarded only to rare, totally colourless diamonds. Many of these colour distinctions are so subtle that they are invisible to the untrained eye. But these slight differences make a very big difference in diamond quality and price.History of jewelleryThe history of jewellery is a long one, with many different uses among different cultures. It has endured for thousands of years and has provided various insights into how ancient cultures worked.

History of Indian Jewelry

History of Indian jewellery is as old as the history of the country itself. Around 5000 years ago, the desire to adorn themselves aroused in people, leading to the origin of jewellery. Since then, Indian women and jewellery have gone hand in hand. There cannot be a woman in India, who does not adore herself with minimum jewellery. In fact, jewellery is considered as security and prestige of women in the country. The attraction for jewellery has been great in India that it is no more a craft than an art.

Indian jewellery is unique in its design and workmanship. In all kinds of traditional dance forms, jewellery has been a significant part. Be it Bharatnatyam, Kuchipudi or Kathak, all have given importance to jewellery in presenting the artist. The sheer number of items forming the jewelry of an Indian woman is numerous, ranging from earrings and necklaces to pieces for adorning the hair, hip, feet, and feet. Jewelry made with emeralds, diamonds, pearls, rubies, sapphires and other precious and semi-precious stones have been in practice for long.

The range of jewelry in India varies from religious to purely aesthetic types. It is crafted not only for humans, but also for the Gods, ceremonial elephants and horses. Royal class people have given patronage to the art of jewellery since ancient times, when rajas and maharajas vied with each other to possess the most exquisite and magnificent pieces. Regional differences can be observed in the making of jewellery, depending on the differences in geography, people, culture, and their lifestyle.

While the designs in solid gold jewellery of Tamil Nadu and Kerala are inspired by nature, the Meenakari and Kundan styles of jewelry making have been influenced by the Mughal dynasty. Then there is a huge range of silver beads found all over India, especially in Rajasthan, Gujarat, Madhya Pradesh and Himachal Pradesh. Their availability leads to the development of the bead jewelry, popular till date.

While Assamese jewellery is influenced by local flora and fauna, Manipuri jewelry-makers make use of items like shells, animal claws, teeth and precious and semi-precious stones. These huge varieties of ornaments bear testimony to the excellent skill of the jewelers and craftspeople of the country. Indian jewelry in Gold, diamonds, silver, sterling silver, precious stones and semi-precious stones is a rage all over the world.Jewellery Making In Different RegionsIndia:

In Asia, the Indian subcontinent has the longest continuous legacy of jewellery making anywhere with a history of over 5,000 years. One of the first two start jewellery making were the peoples of the Indus Valley Civilization in what is now predominately modern day Pakistan. Early jewellery making in China started around the same period, but it became widespread with the spread of Buddhism around 2,000 years ago. The bulk if the Indian jewellery buying is still rooted in tradition and jewellery is sold in traditional designs.Jewellery designs vary in different regions of India, making the style unique to each region. In south India the designs are inspired by nature paisley motif of the mango, rice grains, melon and cucumber seeds, etc. in western and northern India the Mughals influenced the meenakari (enameling) and kundan (setting of precious and semi precious stones in gold ) styles to give just give a few examples. Jewellery is crafted not just for humans but also for the deities, ceremonial elephants, and horses. Hence the variety of gold jewellery in India is truly mind boggling and bears testimony to the excellent skills of Indian jewelers even today.Ornaments are made practically for every part of the body, called solah shringar (16 types of body adornment) nose rings, bangles, necklaces and special jewellery for the head, ankles, waistbands, and so on.Hindu women wear the mangalsutra or thali to signify their marital status, which consists of gold pendants strung in a certain combination with other beads. However, all over India, the toe rings adorning the feet are made only in silver and never in gold. Gold is Goddess laxmi incarnate (goddess of wealth) and she cannot be soiled by touching womens feetA Navratna Ring

Navaratna (nine gems) is a powerful jewel frequently worn by a maharaja. It is an amulet, which compares diamond, pearl, ruby, sapphire, emerald, topaz, cats eye, coral, and hyacinth (red zircon).

Each of these stones is associated with a celestial deity, represented the totality of the Hindu universal when all nine gems are together.

The diamond is the most powerful gem among the nine stones. Indian kings bought gemstones privately from the sellers. Maharaja and other royal family members value gem as Hindu god. They exchanged gems with people to whom they were very close especially the royal family members and other intimate allies. Only the emperor himself, his intimate relations and select the members of his entourage were permitted to wear royal turban ornaments.India was the first country to mine diamonds, with some mines dating back to 296 BC. India trades the diamonds, realizing their valuable qualities. Historically, diamonds have been given to retain or regain a lovers or rulers lost favour, as symbols of tribute, or as an expression of fidelity in exchanging for concessions and protection. Mughal emperors use the diamonds as a means of assuring their immortality by having their names and worldly titles inscribed upon them. Moreover, it has played and continues to play a pivotal role in India social, political, economic, and religious event, as it often has done elsewhere. In Indian history diamond have been used to acquire military equipment, finance wars, foment revolutions, and tempt defections. They have contributed to the abdication or the decapitation of potentates. They have been used to murder a representative of the domination power by lacing his food with crushed diamond. Indian diamonds have been used as security to finance large loans needed to buttress politically or economically tottering regimes. Victorious military heroes have been honored by rewards of diamonds and also have been used as ransom payment for release from imprisonment or abduction. Today, many of the jewellery designs and traditions are used, and jewellery is common place in Indian ceremonies and weddings.Egypt:The first signs of established jewellery making in ancient Egypt was around 3,000 5,000 years ago. The Egyptians preferred the luxury, rarity, and workability of gold over other metals. Pre dynastic Egypt had jewellery in Egypt soon began to symbolize power and religious power in the community. Although it was worn by wealthy Egyptians in life, it was also worn by them in death, with jewellery commonly placed among grave goods.In conjunction with gold jewellery, Egyptians used colored glass, along with precious gems. The colour of the jewellery had significance. Green, for example, symbolized fertility. Although lapis lazuli and silver had to be imported from beyond the countrys borders, many other materials for jewellery were found in or near Egypt.

Egyptian designs were most common in Phoenician jewellery. Also, ancient Turkish designs found in Persian jewellery suggest that trade between the middle east and Europe was not uncommon. Women wore elaborate gold and silver pieces that were used in ceremonies.

Greece

Greece diamond Bracelets

The Greeks started using gold and gems in jewellery in 1600 BC, although beads shaped as shells and animals were produced widely in earlier times. By 300 BC, the Greek had mastered making coloured jewellery and using amethysts, pearl, and emeralds. Also, the first signs of cameos appeared, with the Greeks creating them from Indian Sardonyx, a striped brown pink and cream agate stone. Greek jewellery was often simpler than in other cultures, with simple designs and workmanship. However, as time progressed, the designs grew in complexity and different materials were soon used.Now-a-days, greek jewelleries are being designed in different fashion and in diamond materials due to the demand of people.

Creative Greek jewellery lessonJewellery in Greece was hardly worn and was mostly used for public appearances or on special occasions. It was frequently given as a gift and was predominantly worn by women to show their wealth, social status, and beauty. The jewellery was often supposed to give the wearer protection from the Evil Eye or endowed the owner with supernatural powers, while others had a religious symbolism. Older pieces of jewellery that have been found were dedicated to the Gods. The largest production of jewellery in these times came from Northern Greece and Macedon. However, although much of the jewellery in Greece was made of gold and silver with ivory and gemstones, bronze and clay copies were made also.Jewels for JewelleryThe different types of jewels used in jewelleries are:Diamonds

Diamonds were first mined in India. Pliny may have mentioned them, although there is some debate as to the exact nature of the stone he referred to as Adamas; in 2005, Australia, Botswana, Russia and Canada ranked among the primary source of gemstone diamond production.The Britishs crown jewels contain the cullinan diamond, part of the largest gem quality rough diamond ever found ( 1905 ), at 3,106.75 carats (621.35 g )Now popular in engagement rings, this usage dates back to the marriage of Maximilian I to Marry of Burgundy in 1477.Amber:Amber, an ancient organic gemstone, is composed of free resin that has hardened over time. The stone must be at least one million years old to be classified as amber, and some amber can be up to 120 million years old.Amethyst:Amethyst has historically been the most prized gemstone in the quartz family. It is treasured for its purple hue, which can range in tone from light to dark. Spanish emerald and gold pendant at Victoria and Albert Museum.Emerald:

Emeralds are one of the three main precious gemstones (along with rubies and sapphires) and are known for their fine green to bluish green colour. They have been treasured throughout history, and some historians report that the Egyptians mined emerald as early as 3500 BC.Jade:Jade is most commonly associated with the colour green but can come in a number of colors, as well. Jade is closely linked to Asian culture, history, and tradition, and is sometimes referred to as the stone of heaven.Jasper:

Jasper is a gemstone of the chalcedony family that comes in a variety of colours.often; jasper will feature unique and interesting patterns within the colored stone. Picture jasper is a type of jasper known for the colors (often beiges and browns) and swirls in the stones pattern.Quartz:

Quartz refers to a family of crystalline gemstones of various colors and sizes. Among the well known types of quartz are rose quartz (which has a delicate pink colour), and smoky quartz (which comes in a variety of shades of translucent brown). A number of other gemstones, such as Amethyst and Citrine, are also part of the quartz family. Rutilated quartz is a popular type of quartz containing needle like inclusions.Ruby:Rubies are known for their intense red colour and are among the most highly valued precious gemstones. Rubies have been treasured for millennia. In Sanskrit, the word for ruby is ratnaraj, meaning king of precious stones.Sapphire:The most popular form of sapphire is blue sapphire, which is known for its medium to deep blue colour and strong saturation. Fancy sapphires of various colors are also available. In the United States, blue sapphire tends to be the most popular and most affordable of the three major precious gemstones (emerald, ruby, and sapphire).Turquoise:

Turquoise is found in only few places on earth, and the worlds largest turquoise producing region is the southwest United States. Turquoise is prized for its attractive colour, most often an intense medium blue or a greenish blue, and its ancient heritage. Turquoise is used in a great variety of jewellery styles. It is perhaps most closely associated with southwest and Native Americans jewellery, but it is also used in many sleek, modern styles. Some turquoise contains a matrix of dark brown markings, which provides an interesting contrast to the gemstones bright blue colour.Some gemstones (like pearls, coral, and amber) are classified as organic, meaning that they are produced by living organisms. Others are inorganic, meaning that they are generally composed of and arise from minerals. Some gems, for example, amethyst, have become less valued as methods of extracting and importing them have progressed. Some man made gems can serve in place of natural gem, such as cubic zirconia, which can be used in place of diamond.Gold Control ActTheGold Control Actwas an Indian legislation enacted in 1968. After theSino-Indian Warin 1962, due to loss offoreign exchange reserves, the government of India enacted the Gold Control Rules, 1963, prohibiting the citizens from holding pure gold bars and coins. The old holdings in pure gold had to be compulsorily converted into jewellery and that had to be declared. Only licensed dealers were allowed to deal in pure gold bars and coins. New gold jewellery purchases were either recycled or smuggled gold. This legislation killed the official gold market and a large unofficial market sprung up dealing in cash only. The gold was smuggled in and sold through the unofficial channel wherein, many jewelers and bullion traders traded in smuggled gold. A huge black market developed for gold. Gold Smith was unorganized labour force and could not cope with the new developed situation. Only a few could get the licence to hold the gold, that also in very small quantity, with the result that the members ofKhudabadi Sindhi Swarankar community, who were depending only on their traditional occupation of making gold ornaments, lost their business and their financial condition deteriorated and families shattered.

In 1990, India had major foreign exchange problems and was on verge of default on external liabilities. The Indian Govt. pledged 40 tons gold from their reserves with the Bank of England and saved the day. Subsequently, India embarked upon the path of economic liberalization. The era of licencing was gradually dissolved. The gold market also benefited because the government abolished the 1962 Gold Control Act on 6 June 1990and liberalized the gold import into India on payment of a duty of Rs.250 per ten grams. The government thought it more prudent to allow free imports and earn the taxes rather than to lose it all to unofficial channel. From official imports of practically nothing in 1991, India officially imported more than 110 tones of gold in 1992, which now stands about 800 tones in a year.

In September 1999, the Govt. of India launched a Gold Deposit Scheme to utilize the idle gold and simultaneously give a return to gold owners and reduce the country's reliance on imports. However, this plan was not widely accepted by the population.

White Gold and Platinum

Is white gold the same as platinum?The answer to this question is no. white gold and platinum have their own properties which make them unique.White Gold

White gold is an alloy of gold and some white metals such as silver and palladium. White gold can be 18kt, 14kt, 9kt or any karat. For example, 18kt yellow gold is made by mixing 75% gold (750 parts per thousand) with 25% (250 parts per thousand) other metals such as copper and zinc. 18kt white gold is made by mixing 75% gold with 25% other metals such as silver and palladium. So the amount of gold is the same but the alloy is different.Traditionally nickel was used in white gold; however, nickel is no longer used in most white gold made today as nickel can cause reactions with some people.When white gold rings are new they are coated with another white metal called Rhodium. Rhodium is a metal very similar to platinum and Rhodium shares many of the properties of platinum including its white colour.

The rhodium plating is used to make the white gold look more white. The natural colour of white gold is actually a light grey colour. The Rhodium is very white and very hard, but it does wear away eventually. To keep a white gold ring looking its best it should be re-rhodium plated approximately each 12 to 18 months. Most local jewelers are able to rhodium plate jewellery for a cost effective price.Is white gold a recent phenomenon?No. it is actually an old fashion. White gold alloys became fashionable for the first time in the 1920s, mainly as a substitute for platinum that was also very popular during the time. During World War II, when the US government declared platinum a strategic metal and disallowed its use for jewellery, white gold gained popularity as a substitute.After the restriction on use of platinum was lifted, platinum slowly regained its popularity. In India, the extensive promotion of platinum has indirectly created a market for white gold mainly as it looks similar on first glance and is more affordable. Platinum is quite expensive, needs greater temperatures than gold to manufacture, and is generally considered harder to work with than gold, although it is ideal for use in diamonds settings.White Gold Jewellery:White gold is an emerging trend in India It is slowly setting its root in Indian market, as traditionally yellow gold is preferred, youngsters are opting for White Gold Jewellery as it is more fashionable and appealing to people for representation purpose.

However white gold has a white market in India, especially among the youngsters it is more preferable.Platinum

Platinum is a white metal, but unlike gold it is used in jewellery in almost its pure form (approximately 95% pure). Platinum is extremely long wearing and is very white, so it does not need to be Rhodium plated like white gold.

Platinum is very dense (heavy), so a platinum ring will feel heavier than an 18kt gold ring.Platinum is, however, very expensive. A platinum ring will be approximately twice the price of an 18kt white gold ring (excluding gemstone costs).Platinum JewelleryLeading jewellery retail Gitanjali Group launched a new brand True Platinum. It includes work wear, love bands, wedding collection, Platinum bars and coins.

ORO is currently in process to launch platinum bangle collection.

Platinum has a beautiful shine, its density and look makes it deals for todays woman. Platinum is also an emerging trend in Indian market.

As lifestyle is changing people are frequently opting for new products. As they need variety.

Gone are the days when people bought jewellery for one time wear and lock it in cupboard. People now want jewellery that can be wore on day to day basis.

White Gold An Affordable & Suitable Substitute for PlatinumWhite gold jewellery is widely accepted in place of platinum. Jewellery made with platinum comes with the heftiest price tag as compared to gold or other metals. White gold jewellery has a special spark, is easy to maintain, catches the eye and is also especially reflective for diamonds.

Various designs look absolutely stunning in this form of gold. If you love diamonds, combine them with white gold and you will have a sparkling piece of jewellery. White gold was specially developed as the substitute for platinum in making jewellery.

Platinum jewellery is very expensive in comparison to white gold jewellery. The most popular times for weddings normally have a heavy demand for white old jewellery, as well. White gold jewellery will brighten up your look and keep you shimmering throughout the day.

Impact on Society

Ancient

Jewellery has been used to denote status. In ancient Rome, for instance, only certain ranks could wear rings;Later, sumptuarydictated who could wear what type of jewellery; again based on rank. Cultural dictates have also played a significant role; for example, the wearing of earrings by Western men was considered "effeminate" in the 19th and early 20th centuries. More recently, the display of body jewellery, such as precious has become a mark of acceptance or seen as a badge of courage within some groups, but is completely rejected in others. Likewise, the Hip-Hop culture has popularized the slang termbling, which refers to ostentatious display of jewellery by men or women.

Conversely, the jewellery industry in the early 20th century launched a campaign to popularizewedding ringsfor men which caught on as well asengagement ringsfor men - which did not, going so far as to create a false history and claim that the practice had Medieval roots. By the mid 1940s, 85% of weddings in the U.S. featured a double-ring ceremony, up from 15% in the 1920s.Religion has also played a role: Islam, for instance, considers the wearing of gold by men as a socialtaboo,and many religions have edicts against excessive display.The first sign of recognizedjewelerycreation in Ancient Egypt was around 3,000-5,000 years ago. The Egyptians favored the indulgence, rarity, and workability of gold over other metals. Presynaptic Egypt had Jewels in Egypt soon began to represent power andspiritual powerin the public. Although it was worn by wealthy Egyptians in life, it was also worn by them in death, withjeweleryusually placed amongst serious goods. In combination withgold jewelery, Egyptians used cultured glass, along with valuable gems. The color of thejeweleryhad implication. Green, for instance, symbolized fruitfulness. Although lapis Lazuli and silver had to be introduced from outside the country's borders, many additional capitals forjewelerywere originated in or near Egypt. Egyptian jewelry was mostly made in large shops.

In Christianity, the New Testament gives injunctions against the wearing of gold, in the writings of the apostles Paul and Peter. In Revelation 17,the great Whore or false religious system, is depicted as being decked with gold and precious stones and pearls, having a golden cup in her hand.ModernGeneration ago, jewellery was not sold out of showrooms like it is today. People worked from home and were known for their peculiar style, design and craftsmanship. As time went by, small shop started coming up as customer started trusting the jewellers name.Nearly forty years ago a senior family member would get associated with a jeweler and the entire family would don that jewellery creation. With changing times, boundaries dissolved the customer of demanding. Customer no longer wanted standard, similar designs that their grandmothers and aunts wore.

Growing income made people turn to jewellery as an investment and thus, sales started growing.

Back in the days, royalty sported the best of clothes and needless to say best of jewellery.

In modern society too branded jewellery have become a status symbol. People are attracted towards branded items due to increasing adulteration in commodities. Brand provides a trust and a sense of safety to the customers.Also due to black marketing opting for branded products is a feasible option to the customers. Brand provides a much safer option to the customers, also collecting products of different brands is an accepted way of showing the wealth.The more from unorganized to organization I the sector have created a desire to go for branded jewellery it have also created a sense of trust in the people.Jewellery Market

According to a recent KPMG study the largest jewellery market is the United States with a market share of 30.8%, Japan, India, china, and the Middle East each with 8 9 %, and Italy with 5%. The authors of the study predict a dramatic change in market shares by 2015, where the market share of the United States will have dropped to around 25%, and china and India will increase theirs to over 13%. The Middle East will remain more or less constant at 9%, whereas Europes and Japans market share will be halved and become less than 4% for Japan, and less than 3% for the biggest individual European countries, Italy and the UK.India has the highest demand for gold in the world and more than 90% of this gold is acquired in the form of jewellery. The bulk of the Indian jewellery buying is still rooted in tradition and jewellery is sold in traditional designs.

Indian jewellery industryThe gems and jewellery industry occupies an important position in the Indian Economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country.

The two major segments of the sector in India are gold jewellery and diamonds.Gold jewellery forms around 80 per cent of the Indian jewellery market, with balance comprising fabricated studded jewellery that includes diamonds and gemstone studded jewellery.

Besides, India worlds largest cutting and polishing Industry for diamonds, well supported by the government policies and the banking sectors with the 50 banks providing nearly $3 billion of credit to the Indian diamond industry.

A predominant portion of the gold jewellery manufactured in India is consumed in the domestic market. However, a major portion of the rough, uncut diamonds processed in India is exported, either in the form of polished diamond or finished diamond jewellery.The largest consumer of gold worldwide, India is also the leading diamond cutting nation.Gold and precious gems have played a pivotal role in the Indian social fabric and economy. Precious gems and jewellery are a part and parcel of Indian traditional and customs.Gold has traditionally been valued in India as savings-and investment vehicle and today, continues to be the second most popular instrument after bank deposits.

Gems and jewellery is one of the fastest growing sectors in the Indian economy with an annual growth rate of approximately 15 per cent. The gems and jewellery industry accounts for nearly 20 per cent of the total Indian exports and employs over 1.3 million people, directly or indirectly.

The Gems and Jewellery (G&J) market essentially comprises of sourcing, processing , manufacturing and selling of precious metals and gemstones, such as, Gold, Platinum, Silver, Diamond, Ruby, and Sapphire etc. The G&J market is a significant contributor to the Indian economy, based on the size of the domestic market and through its contribution to the countrys exports. India is the largest consumer of gold (around 20 percent of global consumption) and also the largest diamond processor (around 90 percent by pieces and 55 percent by value of the global market).Certification of Gems and Jewellery:

The Gems and Jewellery promotion council is Indias certification authority. The governments Central Board of Excise and Customs has banned the import or export of rough diamond shipments, which are not accompanied by a Kimberley Process certificate launched in Switzerland. Certification of quality diamonds and jewellery has boosted exports and has resulted in greater acceptance of Indian product in the world market.

Regulating Bodies:

The Gem and Jewellery Export Promotion Council (GJEPC): This is a apex body of the gem and jewellery trade in India, which was set up in 1966 for promoting precious stones and jewellery for exportations. With strength of 6,500 embers spread all over the country, the Council is primarily involved in introducing the Indian gem and jewellery products to the international market and promotes their exports. To achieve this, the Council provides market information to its member regarding foreign trade inquiries, trade and tariff regulations, rates to import duties and information about jewellery fairs and exhibitions. The following initiatives have been taken by the Gem and Jewellery Export Promotion Council in order to enhance competitiveness such as:Preparation of a medium term export strategy for various sectors including gems and jewellery by the Ministry of Commerce.

Exploring the possibilities of direct procurement of rough diamonds from mining countries.

Promotion of Indian diamonds and jewellery abroad through advertisements, publicity and participation in international fairs, buyer seller meets and direct approach to market retailers.

Market study through experts in the field to identify new markets.

Promotion of export of Hallmark jewellery from India to assure foreign customers of quality and purity of jewellery made in India.The Gems and Jewellery Trade Council of India (GJTCI)

Gem & Jewellery Trade Council of India (GJTCI) established in 2000 to serve national gem and jewellery traders and manufacturers who were concentrating on creating a cohesive organization dedicated to developing and expanding the industry for the benefit of all. It indulges itself in disseminating latest information to its jeweler-members through a monthly newsletter, imparting educational training in all aspects of manufacturing and designing, organizing various educative & trade-motivational events such as seminars, exhibitions, foreign trade delegations, etc.

GJTCI is formed with a motto to unite the jewellery trade to showcase its potential nationally as well as internationally. Indian Jewellery industry is armed with millennia-old talents, biggest & still growing local market for gold, exquisite craftsmanship in jewellery & a tag of being world's largest manufacturer of cut & polished diamonds.

The council integrates the jewellery trade & translates the strengths of the trade into opportunities to take over the world by following the right path of prosperity through unity. With strength of over 500 members spread all over the country, the Council is primarily involved in introducing the Indian gem & jewellery products to the domestic and international market. Council informs its members of various fairs and exhibitions taking place around the world.

The Bureau of Indian Standards:This National Standards Body of India is responsible for hall marking of gold jewellery and certification of its purity.

Market Trends:

The Indian jewellery market is one of the largest in the world, with a market size of $13 billion. It is second only to the US market of $40 billion and is followed by China at $11 billion. The gold jewellery market is growing at 15 per cent annum and the diamond jewellery market at 27 per cent per annum.As per the recordings of the Gems and Jewellery Export Promotion Council (GJEPC), the total gems and jewellery exports from India stood at US$ 20.88 billion for 2007 08

The United States and Hong Kong were the largest importers of gems and jewellery from India, with a share of 26 per cent each, followed by UAE at 21 per

Gold jewellery exports increased from US$ 502 billion in 2006 07 to US$ 506 billion 2007 08.

India is the largest consumer of gold in the world, followed by China and Japan. India consumes nearly 800 tones of gold that accounts for 20 per cent of world gold consumption, of which nearly 600 tones go into making jewellery.India is the largest diamond cutting and polishing centre in the world the Indian diamond cutting and polishing industry enjoys 60 per cent value share, 85 per cent volume share and 92 per cent share of the world market in terms of number of pieces. In other words, nearly 9 out of 10 diamonds sold worldwide are cut and polished in India.Government Initiatives:Over the years the Indian Government has taken the following measures to boost the gems and jewellery sector:In 2004 05 the government lowered import duty on platinum from US$ 13.82 per 10 gm to US$ 5.03 and exempted rough colored precious gems stones from customs duty at the first stage itself, instead of claiming reimbursements later.Rough, semi precious stones are already exempt, a move aimed at further promoting the exports of studded jewellery and platinum jewellery.Import of gold of 8 carat and above allowed under the replenishment scheme subject to the import being accompanied by an Assay Certificate specifying the purity, weight and alloy content.

Setting up of SEZs and gems and jewellery parks to promote investment in the sector.

In May 2007, the government abolished import duty on polished diamonds.Cutting and polishing of gems and jewellery treated as manufacturing for the purposes of exemption under Section 10A of the Income Tax Act.In the New Annual Supplement to Foreign Trade Policy (2004 2009) announced on April 19, 2007, the Government has extended the following facilities to this sector:Services Tax on services (related to exports), which are rendered abroad have been exempted.Re import of diamonds & Jewellery (either in complete or partial lot) exported on consignment basis have been allowed.In the light of increase in global prices of precious metal, duty free entitlement for consumables for export of rhodium plated silver jewellery has been increased to 3 per cent.To reduce the transaction cost for the diamond sector, testing facility at International Diamond Laboratory (IDL), Dubai, has been incorporated in the list of laboratory, certifying agencies.Annexure QuestionnaireDo you Wear Jewellery? Yes

No

How frequently do you make jewellery purchase?

Once in a long time

When occasions comesFrom where do you prefer purchasing jewellery?

Local

Branded

If branded what are the factors responsible for this choice? I can choose from wide variety of designs

Stores are easily accessible

Good exchange offer

Jewellery is certified

If local what factors affect decision?

I can buy products on credit Prices are negotiable

The products are comparatively price low

The retail is reliable

From where did you get Knowledge of this store? Scheme launched by store

Recommendation from friends and relatives Pamphlet distribution

How satisfied are you?

Very satisfied

Satisfied

Neither satisfied nor dissatisfied

Does ambiance and service affect?

Very significant

Significant

Neutral

Not at all

Do you compare between local and branded?

Always

Often

Rarely

Never

Do you plan to shift?

Yes

No

Name: _____________________________

Address: ___________________________

Profession: __________________________

Findings Branded jewellery dealers are an organized sector wherein unbranded jewellery dealers are an unorganized sector Many big brands are coming forward into the organized categoryE.g. Kalyan Jewellers, Waman haripethe jewellers Etc

Organized sector or branded jewellery provides professional attitude and a standard of living to people.

Maximum taxes are available in organized sector.

Organized sector or branded jewelers are spending a lot of amount on media/advertisements.

Advertising Spend:

Which factors consumer does provide an attention??

Which segments customers prefer?

ConclusionJewellery market in India is only tending to grow in the coming years, as jewellery here is a religion. There are many auspicious day in the Hindu calendar which are considered auspicious for jewellery purchaseIndia has a great scope for organized sector in Indian market, as a huge market is in unorganized sector. Also the changing life style and attitude of the people had brought a great shift in the jewellery market.

People are increasingly shifting to branded products; people here have generated a great taste for branded products.

There is a demand for new jewellery metals like white Gold and Platinum. Also the scope for jewellery market is ever growing.

There is a great acceptance of brand in jewellery.

People have readily accepted brands. They want more and more branded products; it also helps generating a status in the society.

The branded jewellery business in India is enjoying a compounding growth due to a shift from the unorganized sector. With multi brand and launch of promising collections.

BibliographyBooks Marketing Management Philip Kotler

Articles

The Financial Express. DNA. The Hindu.Internet

www.caratlane.com www.google.com www.gitanjalishop.com www.hammerplusjewellery.com

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