Nosh-up
Jewellery brands @ home Nayan Jani
Serious global slowdown:
Recently the IMF released its WEO (World Economic Outlook) - The October 2008 report. That said, global slow down amid most dangerous financial crunch since 1930s
has been arrived that will pip growth in many developed economies until mid- 2009.
It also will effect upon a growth rate of fastest developing economies! The projected global growth is just 3% for the year 2009 & that is about 40% lower than the year 2007.
The growth rate of the US that was of 2% in 2007 is projected for the year 2009 by the IMF is just 0.1%, equally Euro Area collectively is projected 0.2% for the year 2009 that was of 2.6% in 2007! Out of these Euro Player nations Spain, Germany, Italy and also the
UK could register a negative growth rate.
Emerging Economies & India:
Accordingly emerging & developing economies including BRIC nation’s economy, also will be slow down, is projected in the WEO report. Brazil could register 3.5%,
Russia 6.1%, India6.9% and China could stay at 9.3% growth in the year 2009.
Global slump & India:
Now let’s think India. The IMF is projecting a growth of 6.9%. Where as economists of Swiss bankUBS also says that the global economy will slip into recession in 2009 but what they estimate for India is little pink: ‘India will be escape relatively unscathed, with only minor downside risk to growth’, says economists at UBS. They say India’s GDP growth could dip to 6.8% in 2008 & that could see at 7.3% in the year 2009. The IMF is observing 7.9% and the PM of India said in the French business lobby group MEDEF that to grow around 8.0% in the 2008.
Over all one can draw a conclusion that the Indians are capable to escape from the global turmoil.
The GJ Industry:
Export:
No doubt our GJ export players have pulled down the US share from our export basket is now at 26% that is as good as HK. Perhaps our SEEPZ players & Units at Gujarat especially Bhavnagar, Ahmedabad & including Surat have been affected from this recession flam. Even the Jaipur – a great colour gem stone center of India has lost their luster in this slump.
Leaders of these cities have reported that they have gone cool off! Units of Surat announced 45 days Diwali holiday, fearing a loss of growth could be of 30% with financial crunches too! And Jaipur export fraternities fear to see low export at 65% than the regular export volume to US.
All these are an export state of affairs.
@Home:
On the peripheral ground a domestic market also be seen tumbling. Both the economists of India, Mr. PM & Mr. FM found struggling to see an order in the financial market as well as in retail too. They are dreaming to see inflation in single digit! They could have done if they were not politician or not from the ruling party or if they were not Indian citizens.
Perhaps, these entire peripheral scenarios India is emerging economies and most attractive retail destination in the globe. Now what required is nourishment. Indeed this is the time to reassure GJ Market at home. Entire globe is trying to cheer up Indian buyers and pampers their affinity for gold-n-jewel. Recently the WGC & FPSB said: ‘No investment portfolio can be complete without gold.’
Jewellery brands @ home Nayan Jani
Serious global slowdown:
Recently the IMF released its WEO (World Economic Outlook) - The October 2008 report. That said, global slow down amid most dangerous financial crunch since 1930s
has been arrived that will pip growth in many developed economies until mid- 2009.
It also will effect upon a growth rate of fastest developing economies! The projected global growth is just 3% for the year 2009 & that is about 40% lower than the year 2007.
The growth rate of the US that was of 2% in 2007 is projected for the year 2009 by the IMF is just 0.1%, equally Euro Area collectively is projected 0.2% for the year 2009 that was of 2.6% in 2007! Out of these Euro Player nations Spain, Germany, Italy and also the
UK could register a negative growth rate.
Emerging Economies & India:
Accordingly emerging & developing economies including BRIC nation’s economy, also will be slow down, is projected in the WEO report. Brazil could register 3.5%,
Russia 6.1%, India6.9% and China could stay at 9.3% growth in the year 2009.
Global slump & India:
Now let’s think India. The IMF is projecting a growth of 6.9%. Where as economists of Swiss bankUBS also says that the global economy will slip into recession in 2009 but what they estimate for India is little pink: ‘India will be escape relatively unscathed, with only minor downside risk to growth’, says economists at UBS. They say India’s GDP growth could dip to 6.8% in 2008 & that could see at 7.3% in the year 2009. The IMF is observing 7.9% and the PM of India said in the French business lobby group MEDEF that to grow around 8.0% in the 2008.
Over all one can draw a conclusion that the Indians are capable to escape from the global turmoil.
The GJ Industry:
Export:
No doubt our GJ export players have pulled down the US share from our export basket is now at 26% that is as good as HK. Perhaps our SEEPZ players & Units at Gujarat especially Bhavnagar, Ahmedabad & including Surat have been affected from this recession flam. Even the Jaipur – a great colour gem stone center of India has lost their luster in this slump.
Leaders of these cities have reported that they have gone cool off! Units of Surat announced 45 days Diwali holiday, fearing a loss of growth could be of 30% with financial crunches too! And Jaipur export fraternities fear to see low export at 65% than the regular export volume to US.
All these are an export state of affairs.
@Home:
On the peripheral ground a domestic market also be seen tumbling. Both the economists of India, Mr. PM & Mr. FM found struggling to see an order in the financial market as well as in retail too. They are dreaming to see inflation in single digit! They could have done if they were not politician or not from the ruling party or if they were not Indian citizens.
Perhaps, these entire peripheral scenarios India is emerging economies and most attractive retail destination in the globe. Now what required is nourishment. Indeed this is the time to reassure GJ Market at home. Entire globe is trying to cheer up Indian buyers and pampers their affinity for gold-n-jewel. Recently the WGC & FPSB said: ‘No investment portfolio can be complete without gold.’
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