GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

WGC Survey: 60% Indian women own gold; 37% will buy in future

28 may 2020

Image credit: 8180766 (Pixabay)

The World Gold Council’s “Retail Gold Insights: India Jewellery’ report highlighted that 37% of Indian women have never bought gold jewellery in the past but would consider buying it in the future, presenting a significant potential audience for retail jewellers to capture.
While 60% of Indian women already own gold jewellery; it is the second most popular item among ‘fashion and lifestyle’ shoppers, preceded only by designer clothes/silk sarees.
India’s cultural identity is greatly intertwined with gold: it is widely referenced in ancient scripts, features heavily in religious iconography and is integral to auspicious occasions, traditions, and wedding ceremonies. 
While urban women tend to focus on the sense of security that gold brings, highlighting its role as a display of wealth as well as a store of value, rural Indian women place greater emphasis on gold’s widespread acceptability and its aspirational qualities, viewing it as a means of commanding respect.
Somasundaram PR, Managing Director, India, World Gold Council, commented, “India’s jewellery market is world-leading in the skills of its artisans, who craft the most elaborate and decorative pieces that adorn the nation’s women. This research shows us that consumer tastes are evolving, and there is a risk of gold jewellery losing its connection with younger audiences as other brands vying for the attention of the millennial generation. The report reveals the importance of establishing modern, relevant brands, that can resonate with consumers through compelling marketing campaigns. We at the World Gold Council are excited at the opportunities these insights present for our market and look forward to engaging with the industry in more detail.”

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