GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

ASSOCHAM: Indian luxury goods market to grow by 25% in 2016

14 january 2016
The Indian market for luxury goods is expected to grow from its current level of $14.7 billion to $18.3 billion by end 2016, according to a study conducted by industry body the Associated Chambers of Commerce and Industry of India (ASSOCHAM). This translates into a compound annual growth rate (CAGR) of about 25%.
The study said that the categories with high growth rates in 2015 such as luxury jewellery and personal care, electronics, SUV cars and fine dining are expected to grow by 30-35 per cent over the next three years. This augurs well for the gem & jewellery industry, which can utilize the opportunities that arise in this sector.
D S Rawat, Secretary General ASSOCHAM, has identified rise in disposable income, brand awareness amongst the youth and purchasing power of the upper classes in Tier II & III cities as the three main factors that will drive the growth in the sector. As per the study the high income group (HIG) consumer segment, which spends over 40% of their monthly income on luxury goods, is growing. The survey revealed that spending on luxury items by this segment has not been impacted by the global economic slowdown. On the other hand, the middle income group (MIG) consumers spend 8-10% of income on luxury products, he added.   
The study also reveals that this is in line with the global trends where consumer spending is expected to reach USD 40 trillion by 2020 with an unprecedented growth of USD 12 trillion in a decade. The study was conducted across multiple cities and indicated that in 2015, Delhi saw the highest spending on luxury brands followed by Mumbai, Ahmedabad, Pune and Bangalore.

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished