1. Innovation In Food Industry

Last Thursday, jewelers received a big fat clue about what to expect in 2018, when Pantone named its 2018 color of the year. But what else, besides a horde of jewels in pretty shades of purple, is coming down the pike in the new year?As I do every year around this time, I reached out to a handful of big thinkers who specialize in everything from design trends to luxury marketing to get a sneak peek of what they’re seeing in their crystal balls. Without further adoAmanda Gizzi, director of PR and events for“Opportunities. In 2017, challenges might have been a trending word for our industry. With 2017 behind us, the focus shifts toward the opportunities presented to us. For 2018, trends will be taking shape with both jewelry and—hopefully—retail innovation.“Fashion-forward jewelry in entry-level price points will help drive traffic and bring in a new generation of jewelry buyers.

If we sit back and wait for the engagement ring and wedding band customers to introduce jewelry, we have waited too long. The self-purchasing customer holds major opportunities.“Retail innovation is another big trend for 2018. Retail is no longer about just the physical environment. In order to be successful in 2018, a retailer must have a polished physical store, engaging website, and a social media presence that drives sales.”Cecilia L.

India's gems and jewellery sector is one of the largest in the world contributing 29 per cent to the global jewellery consumption. The market size of the sector is about US$ 75 billion as of 2018 and is estimated to reach US$ 100 billion by 2025.

Innovation In Food Industry

The sector is home to more than 300,000 gems and jewellery players, contributes about 7 per cent to India’s Gross Domestic Product (GDP) and employs over 4.64 million employees.India's gems and jewellery sector contributes about 15 per cent to India’s total merchandise exports. The overall net exports of gems and jewellery stood at US$ 32.71 billion during FY18 registering a compound annual growth rate (CAGR) of 5.83 per cent over FY05; whereas gems and jewellery imports increased at a CAGR of 7.97 per cent from US$ 11.63 billion in FY05 to US$ 31.52 billion in FY18.India is the world’s largest centre for cut and polished diamonds in the world and exports 75 per cent of the world’s polished diamonds. Today, 14 out of 15 diamonds sold in the world are either polished or cut in India. India exported US$ 1.64 billion worth of cut and polished diamonds in FY20( As of April 19).

It contributed 73.42 per cent of the total gems and jewellery export.India is the largest consumer of gold in the world. Rising middle class population and increasing income levels are the key drivers for the demand of gold and other jewellery in India. Gold demand in India rose 11 per cent year-on-year to 760.40 tonnes during January-December 2018. Also, the Government of India has permitted 100 per cent Foreign Direct Investment (FDI) in the sector under the automatic route.

As of January 2018, the Reserve Bank of India (RBI) has increased the scope of the gold-monetisation scheme by allowing charitable institutions and government entities to deposit gold, which is expected to boost deposits over the coming months. The Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in India from January 2018, to include a BIS mark, purity in carat and fitness as well as the unit’s identification and the jeweller’s identification mark on gold jewellery. The move is aimed at ensuring a quality check on gold jewellery.Note:. provisional figures.Copyright © 2010-2019 India Brand Equity FoundationAll material, information, data, images or content on this website is subject to copyright or other applicable intellectual property laws and no part of it can be reproduced in any form (including paper or electronic form) without prior written consent and approval from IBEF.

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