Indian Jewelry Exporters
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Exporter : The person or a company is authorized by customs and government authorities to send goods and services out of the port of the country. And if the person or a company receives goods and services from other country is called “Importer”.
Indian jewelry exporter rise their business day by day. According to Vipul Shah chairmen of the state-backed gem & jewelry Export Promotion Council. Gems and jewelry exports will likely raised 12%-13% in the year that began from April 1st. India is the largest consumer of gold and importer too. Gemstones jewelry is the emerging sector of Indian economy. This industry is leading foreign money earner of country. India consumes 800 tons of gold and approx 2500 tons silver. And you do believe that 80% gold and silver are used in jewelry making. Indian jewelry market is very big which is estimated approx $20.50 billion in fiscal 2007-08.
The increase in purchasing equality of the middle class and growth in income levels have resulted in consumption growth of gems and jewelry by about 13% in the 5 year period.
Jewelry has been an integral part of the Indian culture. Sterling silver jewelry was in demand and fashion since ancient civilizations. Indian Jewelry had been made out by using many metals, and could be adorned to highlight almost any part of body. Be it the traditional jewelry that is continuously increasing in demand, i.e. the custom jewelry india and larimar jewelry. There is no dearth when it comes to imaginative & stunningly designed jewelry pieces.
The ‘India Shining’ factor is possibly best reflected in the surge in Indian turquoise jewelry. This gave big contributions to the country’s foreign exchange earnings.
The hub of india’s jewelry industry is Mumbai that receives majority of the country’s gold and rough diamond imports. However, most of the diamond processing is undertaken in the neighboring state Gujarat, primarily in Surat, Ahmadabad, Bhavnagar, and Bhuj. But Mumbai does have a considerable number of modern semi-automatic factories and laser-cutting units, majority of which are located in the special economic zone.
Exports from the industry are increased day by day. Wholesale silver jewelry India counted $ 4 billion in 2009-2010.
It is reflecting a growth of 28% from the last year. While the larimar jewelry accounted for 65% of the total exports.
The export of semiprecious gemstones and American Indian jewelry accounted 1.4 billion.
Future growth in the gems and jewelry business is likely to be depends how much can we export to the US and other markets, apart from a surge in domestic consumption.
Currently Our major destinations for india’s gems and jewelry are :-
- United states
- United Kingdom
- Hong Kong
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