logo
close icon

Gems and jewellery market shines again: Survey

Business Standard,

The gems and jewellery sector in India, consisting of a large number of small and medium enterprises (SMEs), has started to shine again, according to a survey conducted by IndiaMART Knowledge Services (previously known as IndiaMART Research Unit).

The survey was conducted to ascertain if the recovery in the global markets is benefiting SMEs in the gems and jewellery sector too.

Around half of the respondents found the market in 2010 better than in 2009. About 27.1 per cent saw the market drop further in 2010, and the remaining 22.9 per cent reported no change in the market scenario.

Consumer sentiment did not reflect greater change: only 16.7 per cent of respondents said that it had risen beyond expectations. Half, however, found only an average increase in consumer sentiment. About 33.3 per cent continued to find it negative in 2010.

Likewise, 47.9 per cent of respondents reported an increase in sales of up to 20 per cent, while 14.6 per cent stated sales had increased by more than 20 per cent in 2010, vis-a-vis 2009. Some 37.5 per cent of SMEs experienced a decline in sales. Export demand picked up, with 56 per cent of SMEs reporting an increase in export demand.

About 46.15 per cent found product prices stable, though 28.8 per cent stated that prices increased significantly and 17.9 per cent reported a marginal improvement. Only 7.7 per cent concluded that their product prices decreased in the year. With respect to input costs, most respondents (51.28 per cent) said they increased significantly and only 5.13 per cent said they had decreased.

Despite the changing market scenario, the SMEs in the sector continue to grapple with challenges. More than half (51.28 per cent) feel that poor response from customers is a major worry.

Read more at www.business-standard.com

Gems and Jewellery

Latest Posts

How to Create Long-Term Customer Relationships

Posted on July 9, 2025

In the case of any business, creating long-term customer relationships is one of the best ways to achieve growth and stability. Long-term relationships imply not...

Read More

How to Use GST Input Tax Credit: Simplified

Posted on July 2, 2025

For a registered taxpayer, the utilization of GST Input Tax Credit (“ITC”) is among the strongest ways to reduce GST burden and enhance cash flow....

Read More

A new dawn for dreams: IndiaMART’s efforts in Sahabapur...

Posted on June 10, 2025

Somewhere in the streets of Fakharpur in the Bahraich district, a change unfolded in the walls of the Upper Primary School. The school, once lacking...

Read More