Gems & Jewellery

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Traditionally, Indians have always bought jewellery for festivities, weddings and other special occasions through their trusted neighborhood or family jeweller. But in recent years, a trend seems to be evolving whereby increasing number of individuals (especially from metros) are opting for branded jewellery which is driving the growth of organized retail jewellery. The change in trend is due to a number of factors like brand consciousness, wider variety of designs at different price points, hallmarking and certifications of gold and diamonds and exposure to global jewellery fashion & media. Domestically, gems & jewellery (G&J) has been a highly unorganized sector with approximately 300,000 traditional neighborhood jewellers across India, organized penetration being about 17%. Indian Gems and Jewellery (G&J) industry is one of the major exporting industries and has contributed ~13% to the total export earnings of the country during FY13. In light of the burgeoning current account deficit (CAD), RBI and GoI has been introducing various measures since May 2013in order to curb the gold imports.The GoI has also recently increased the import duty on gold and platinum from 8% to 10%. The Indian gold jewellery exports witnessed a declining trend during H1FY14.

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Updates

    • Monthly Update - August 2014

    • Monthly Update July-14

    • Monthly update - June 2014

    • Monthly update - May 2014

      Gold jewellery exports surges given improved gold supply in the country....

    • Monthly update - April 2014

      G&J exports declined by 11% in FY14 due to decline in gold jewellery exports; however exports of C&P diamonds improved, given higher demand in western markets....

    • Monthly update - March 2014

      G&J exports continues to plunge; however exports of gold jewellery surges for the first time during FY14....

    • Monthly Update February 2014

      Constrained gold supply continues to dampen the topline of G&J players....

    • Monthly Update January 2014

      Gold imports continue to fall due to RBI measures to curb CAD....

    • Monthly Update December 2013

      Gold imports continue to fall due to RBI measures to curb CAD....

    • Monthly Update November 2013

      Exports witnessed growth after a dull Q2FY14....

    • Monthly Update October 2013

      Import duty hiked to 15% on gold jewellery, augurs well for domestic manufacturers....

    • Monthly Update August 2013

      RBI measures curb gold imports....

    • Monthly Update July 2013

      RBI measures curb gold imports....

    • Monthly Update June 2013

      Sales improves, however profitability margins decline due rise in cost....

    • Monthly Update May 2013

      G&J exports sparkle though Gold fades....

    • Monthly Update April 2013

      G&J exports declined by 9.4% during FY2013....

    • Monthly Update March 2013

      Losing sheen, but potential remains intact....

    • Monthly Update February 2013

      Weakness in key exports market impacting the growth....

    • Monthly Update January 2013

      Weakness in key exports market impacting the growth....

    • Monthly Update December 2012

      Losing sheen, but potential remains intact....

Impact Analysis

  • RBI restrictions to squeeze gold supplies

    India is fighting an unusual battle of confining its craving for yellow metal that Indians have cherished through-out the history. A Current Account D.....

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