GJ Town India

India jewellery demand down by 42% in 2020   Expected 2021 to go further normalcy returns and s teady course of reforms strengthen the industry India!   Implementation of mandatory hallmarking in June 2021   Key Highlights: 1: Gold demand full year January –December 2020, 2: The gold demand for the full-year 2020 is 446.4 tonnes compared to 690.4tonnes in 2019, 3: Total jewellery demand in India for 2020 was down by 42% at 315.9 tonnes as compared to 544.6 tonnes in 2019, 4: The value of jewellery demand in 2020 was Rs.133,260 crores, down by 22% from 2019(Rs. 171,790 crore) .   5: Total investment demand for 2020 was down by 11% at 130.4 tonnes in comparison to 145.8 tonnes in 2019 In value terms, gold investment demand was Rs. 55,020 crores, up by 20%from 2019(Rs. 45,980 crores),6: Total gold recycled in India in 2020 was 95.5 tonnes as compared to 119.5 tonne. Somasundaram PR, Managing Director, India, World Gold Council said:“India’s gold demand dropped b...

The spark will return to the jewellery business! Technology will play a significant role in the future!     Jewellers will largely be spared the Corona blues Sanjay Shah Chairman, Jewel Makers Welfare Association Covid-19 has changed the way we look at things. Not only has the global pandemic affected our lives in unimaginable ways, but also impacted our habits.   From work to shopping, every avenue possible has taken a blow. While the world is but if there is one an industry that has remained fluidic for many decades, it is the gem and jewellery industry. Famines, floods and other natural disasters have not been able to affect it greatly, as the demand for jewellery has always existed and the artisans and jewellers have always pushed themselves harder to meet the demand.   So, what lies ahead for the industry that has survived all odds weathering an economic crisis, with nations building respective strategies to sail through, the jewellery industry has also ...

Though many jewellers reported growth in 2020!   Following Dusshera 2020, jewellers were eyeing  upon another largest occasion for jewellery buying. De facto fraternity worked hard to ensure Dhanteras sales. Buyers celebrated the festival and carried on jewellery buying amid all those safety norms for Covid-19. They pushed up jewellery sales yet over all the sales could not reached to the overall sales of 2019, It is estimated a short by 10% YoY (Year over Year.)   Although many reported and claimed a growth of 10% to 30% in this Dusshera over the previous year yet the overall ground reality could not draw a conclusion of such growth! Let’s learn through direct expression of key jewellers’ pan India. Aditya Pethe, Director, WHP Jewellers said, “Looking at the day so far, we can say that it has been very good. This Dhanteras is looking very promising in terms of what we had initially expected. As far as the sales are concerned we’re confident that we’d do as well as la...