Jewelry
Indian jewelry is known all over the world for its sheer variety in design and material. From the natural tribal jewelry to ethnic designs in silver, gold, platinum and even copper, the amazing designs in various parts of the country attract connoisseurs around the globe.
The main takers for jewelry among the various cultures and regions of India are females. Ornaments, especially in gold and silver, are considered as an asset in many cultures and brides are presented with ornaments by her family to secure the future of the bride and groom. Though earlier gem and diamond jewelry were popular only among the affluent, the scenario is changing with the increasing demand among the middle-class.
Indian women and ornaments
The fascination of Indian woman for ornaments and jewelry is immense as is evident from the presence of large number of jewelry shops in cities and towns. Though jewelry making was earlier the sole prerogative of specific communities in Indian villages the role is increasingly taken over by modern jewelry shops that have sprung up even in small towns.
Indian jewelry – oldest tradition
India has the most ancient surviving tradition of jewelry-making that dates back to the Indus valley civilization, some five-thousand years ago. The people of Indus Valley civilization, as early as in 1500 BC, wore golden earrings, necklaces and metallic bangles.
India’s gem and jewelry industry
Though the home market for gems and jewelry is witnessing a steady growth, the exports are on the rise year after year. India’s gem and jewelry exports amounted to US $ 2.86 billion in January, 2011, with US and Europe being the major importers, according to the Gems and Jewellery Export Promotion Council (GJEPC), an apex body of the gem and jewelry industry
One of the largest bullion markets in the world, India is also the largest consumer of gold. ‘Heart of Gold’, a study by the World gold Council says that the gold stocks in the country, including private, institutional and RBI assets, is 18,000 tonnes which would cost around US $ 800 billion.
India, where diamond was first recognized and mined, is the largest diamond cutting and polishing centre in the world. Besides fashion, diamond is also regarded as an investment. Surat in India is a major diamond processing centre in the world where the annual revenue from the industry is estimated at US $ 13.03 billion.