Gems, jewellery sector turnover to double by 2015: AssochamJuly 22nd, 2011 - 12:32 am ICT by IANS
Ahmedabad, July 21 (IANS) The gems and jewellery industry in India is expected to record a turnover of Rs.2.13 lakh crore by 2015, the Associated Chambers of Commerce and Industry of India (Assocham) said here Thursday.
In a study titled “Current trends in gems and jewellery sector”, it projected the almost doubling of the industry’s turnover over the next four years from the present Rs.1.22 lakh crore.
The study, carried out between March and June this year, covered 1,500 retailers, wholesalers and and manufacturers countrywide including those dealing in gold, silver, diamonds and gemstones.
“Increased purchasing power and overall increasing affordability among Indian middle-class emerge as the major reasons for heightened jewellery demand,” said Assocham secretary general D.S. Rawat.
The demand is expected to rise further with onset of the annual festive season during August-October,he added.
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