Now here’s the most incredible Make in India story you will ever hear. Around nine out of every 10
The highly dynamic consumer market has grown rapidly over the last two decades, fuelled by a fast expanding economy, a widening consumer base and a culture where precious jewellery plays an intrinsic role in social occasions and family traditions. The much talked about middle class is growing rapidly, and the purchasing power of the highest income households is expected to rise at the fastest pace. Diamond jewellery is an ‘aspirational’ product in India and is more desired than other luxury categories. Brands, which already play a key role in the Indian consumer market, are expected to gain further prominence for consumers in the years ahead.
The growth story deconstructed
India’s domestic diamond consumer market has achieved almost uninterrupted growth over the last two decades, with demand for diamond jewellery expanding in 19 of the last 20 years in rupee terms.
In the last decade alone, the market has nearly trebled in size to about INR22,000 crore (INR220 billion)The brief contraction in 2013, caused by the depreciating purchasing power of the rupee and a weakening of the broader Indian economy, reversed in 2014.
US funding serves as a major boost
The International Institute of Diamond Grading & Research (
The enhanced facility represents a world-leading resource for India’s diamond cutting and polishing sector, providing polished diamond grading services, diamond verification services, as well as melee (small diamond) testing and screening.
Diamond educational hub
Evolution happened each year
When
He believes, the skilled craftsmanship and good knowledge about the art of diamond polishing have helped Surat to maintain its signature till date.