The Hindu Business Line : `Diamond retail set for robust 2005'

Mr Nicholas Graham Smith, Regional Marketing Director (Asia, Middle East and Turkey), Diamond Trading Company, going through a book on `Jewels of Nizam' at Kirtilal Kalidas and Co in Hyderabad. — A. Roy Chowdhury

Hyderabad , Jan. 27

THE Indian diamond industry isgrowing at over 20-25 per cent per annum and is a witness to gradual shifts in buying patterns.

The year 2005 is projected to have a robust growth, according to Mr Nicholas Graham Smith, Regional Marketing Director for Asia, Middle East and Turkey, of the UK-based Diamond Trading Company (DTC).

The DTC, a De Beers group company, associated with various partnering companies across the world, is engaged in diamond trade and marketing jewellery. It is bullish on the Indian market, which is estimated at Rs 5,000 crore. Of this, about 90 per cent is in the unorganised sector.

Mr Smith, who was in Hyderabad to launch the Vivaha range of jewellery at Kirtilal's told Business Line that in just about 10 years, the country, which had about 1,600 outlets has grown five times.

"There are signs that show many smaller cities and towns could soon witness more retail outlets. Interestingly, diamond jewellery is going beyond upper class consumers and touching even the middle class across the country," he said. "Branded jewellery market and particularly diamonds is still just about 10 per cent of the overall market but is growing at over 20-25 per cent a year in India.," he said.

"We, at DTC, project a strong year 2005 for the diamond industry driven by brands such as Nakshatra, Asmi, Auregia and the Sangini range. In fact, the Nakshatra brand is attracting business beyond Indian shores where branded retail outlets are playing a significant role," he said.

Earlier, models displayed the latest Vivaha range of diamond jewellery at Kirtilal's. This range starts from Rs 60,000 across its range of bangles, studs, rings, pendants and maang tikka.

The diamond industry seems to be changing its base line `Diamonds are for ever,' which was coined in 1939, to `Diamonds for everyone.'

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