Work hard and you will find success

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Survey Notes Challenges Facing Females in India’s Jewelry Industry

03 august 2012

Female entrepreneurs in India’s gems and jewelry industry face several bottlenecks as ‎traditional values often hinder their progress, Rapaport reports.‎
A survey on ‘Women Entrepreneurs in Gems & Jewellery Sector,’ conducted by FICCI Ladies ‎Organisation (FLO), noted some of the obstacles restricting female-led operations include ‎difficulty to procure raw materials and finding skilled manpower in each of the manufacturing, ‎marketing and retailing aspects of their businesses. ‎
FLO questioned entrepreneurs for the survey, including women who have been in the ‎industry for more than 10 years and new comers. A majority of the respondents from small ‎and medium size enterprises noted it is difficult for them to obtain quality products such as ‎gemstones in the markets, particularly in Delhi, because of the traditional mindset of people in ‎the industry.‎
Other concerns included the low wages prevalent in the industry, its hesitance to train staff, as ‎businesses feel threatened by them, and a general fear of poaching and sharing of internal ‎practices. The survey added that financing options are inadequate and respondents stressed ‎that more needs to be done to sustain the industry’s competitive edge globally.‎
The survey showed that there is a growing need to modernize the sector in line with ‎international trends. FLO explained that the rising spending capability of the Indian consumer ‎has made gems and jewelry a lucrative business opportunity for women entrepreneurs and ‎that most of the survey participants view the industry as a very profitable sector as their ‎businesses are thriving.‎
FLO recommended that the government should formulate policies to encourage gems and ‎jewelry as a career opportunity for women and increase training initiatives so that skilled ‎manpower is easily available in India. The respondents suggested that skills enhancement ‎centers should be setup to help develop skills.‎
The organization added that government should introduce specific measures for women ‎entrepreneurs to encourage them to tap the growing potential of this sector, particularly given ‎the growth of branded jewelry in the country.  ‎
The survey concluded that female entrepreneurs across India should be provided with a ‎platform to gain better access to national and international markets, develop partnerships with ‎value chain operators, and network with businesses in related industries.‎