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India, China to drive growth in Gems, Jewellery sector: reportBy Rajesh Kumar, Section News
While U.S. is likely to remain the largest consumer of jewellery, India and China are showing signs of emerging as largest jewellery consuming markets by 2015.
Jewelry India and China are set to drive growth in the global gems and jewellery sector, according to a report by research firm Koncept Analytics. The report titled as "Global Gems and Jewellery Market: Emerging Markets Driving Growth" sates that while the US is likely to remain the largest consumer of jewellery, India and China are showing signs of emerging as largest jewellery consuming markets by 2015. The report cites increasing income levels due to fast economic growth in the burgeoning middle-class in India and China as the factors that will drive diamond and jewellery sales in these nations.
While the US is the biggest market for diamonds and will remain so, India, China, Middle East, Gulf countries and Commonwealth of Independent States nations will emerge as key markets in the coming years and offer great potential for growth, said Chandrakant Sanghavi, Chairman of the Gems & Jewellery Export Promotion Council (GJEPC).
http://www.indiainfoline.com/news/innernews.asp?storyId=104088&lmn=1
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