Branded Gold Jewellery Market in India
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Gold Jewellery Market in India Contd...
In the 1990s, the number of retail jewellery outlets in India increased greatly due to the abolition of the Gold Control Act. This led to a highly fragmented and unorganized jewellery market with an estimated 100,000 workshops supplying over 350,000 retailers, mostly family-owned, single shop operations. In 2001, India had the highest demand for gold in the world; 855 tons were consumed a year, 95% of which was used for jewellery.
Gitanjali Jewels also started selling 24-carat gold jewellery in association with a Thai company, Pranda. Su-Raj (India) Ltd. launched its collection of diamond and 22 -carat gold jewellery in 1997.
6] In South India, the designs are inspired by nature with motifs of the mango, rice grains, melon, cucumber seeds, etc. In Western and Northern India the designs are influenced by the Meenakari (enamelling) and Kundan (setting of precious and semi-precious stones in gold) styles.
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