The Hindu Business Line : Jewellery market estimated at over Rs 58,000 cr: Survey

THE total jewellery market in India is estimated at over Rs 58,000 crore, of which diamond jewellery comprises the largest segment at about Rs 15,000 crore.

According to a survey by the Gitanjali Group, branded diamond jewellery is growing at over 20 per cent per year.

The survey also found that there are over five lakh retail stores selling jewellery, of which more than 10,000 stock diamond jewellery.

In what appears to augur well for the growth of jewellery retailers, the survey established a huge potential for future growth in this area, since only three per cent jewellery buyers today do their shopping from malls, while another 49 per cent buy from the local jeweller.

As per the survey, about 75 per cent of jewellery sales take place in the metros, with gold jewellery being the first preference of consumers, but diamond is also slowly growing on the preference list.

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