×
776
Fashion Jobs
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
PEOPLE ALLIANCE WORKFORCE
Asst. Manager Quality/Quality Line Officer/qa & qc- Garments Industry
Permanent · National Capital Region
PEOPLE ALLIANCE WORKFORCE
Production Merchandiser Manager/Head - Garments Manufacturing
Permanent · National Capital Region
SHAHI
General Manager-Corporate Communications
Permanent · Bengaluru
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Thanjavur
Permanent · Thanjavur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Karjat
Permanent · Karjat
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Darjeeling
Permanent · Darjeeling
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Ankleshwar
Permanent · Ankleshwar
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Pali
Permanent · Pali
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kurseong
Permanent · Kurseong
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kumbakonam
Permanent · Kumbakonam
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Dausa
Permanent · Dausa
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Siana
Permanent · Siyana
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Tirupur
Permanent · Tiruppur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Kashipur
Permanent · Kashipur
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Dibrugarh
Permanent · Dibrugarh
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Aurangabad
Permanent · Aurangabad
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Palitana
Permanent · Palitana
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Rajgir
Permanent · Rajgir
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Gandhidham
Permanent · Gandhidham
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Tirupati
Permanent · Tirupati
LAVYA ASSOCIATES
Area Sales Manager-Agency | Life Insurance-Lonavala
Permanent · Lonavala
Published
Sep 29, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

World Gold Council sees India's jewellery industry future as robust, organised

Published
Sep 29, 2022

In the World Gold Council’s latest report on the Indian gold jewellery industry, change towards organisation over recent years is attributed to wider factors such as demonetisation and the introduction of the Goods and Services Tax as well as changing consumer behaviour. 

The WGC sees the Indian gold jewellery market as becoming more organised


In its latest report on the Indian gold market titled ‘Jewellery Market Structure’, the WGC stated that Indian retail is evolving at a swifter pace than manufacturing but that the latter is evolving through initiatives such as jewellery parks. The report picked out changes in consumer behaviour and in government regulations a major reasons for change over the past few years. 
 
“The Indian retail jewellery market has seen several structural changes over the last decade, some driven by regulations and some by shift in consumer behaviour,” said WGC regional CEO for India Somasundaram PR, the Gem and Jewellery Export Promotion Council reported on its website. “While mandatory hallmarking, implemented in its final shape as defined, should provide a level playing field, national and regional chain stores are nevertheless set to gain market share in the current trend because of their access to credit and the large inventory they carry. Small players need to become more transparent and adapt technology faster if they have to gain similar access to credit and protect market share.”

The gold jewellery industry has seen greater tax compliance from businesses in line with the organisation of the market, according to the WCG. The last decade has seen a significant shift towards large-scale stores, although local jewellers still dominate the retail landscape. 
 
“The manufacturing sector is only at the beginning of its much-needed transformational journey,” said Somasundram PR. “Jewellery parks, some of which have already been established, will help address concerns about ethical standards and working conditions. The same can help eliminate barriers impeding the growth of manufacturing industry, further supporting demand positively. Bottom line is- the sector has grown but the wave of change facing the industry due to tech adoption and broader tax compliance in the economy can be a boon for those who are willing to transform and a significant risk for others whose business models continue to rest on legacy practices.”
 
 

Copyright © 2022 FashionNetwork.com All rights reserved.