India share 35% of total global silver jewellery
India the number one jewellery producer in the globe! Recently, Silver Jewelry Report, Prepared for The Silver Institute-published in December. The report is widely focussed upon jewellery trend & Outlook 2021. The Scale of the Silver Jewelry Market says, last year global silver jewelry fabrication reached an impressive 200.2Moz (6,228t), up a full 26% on the low for the decade in 2012. There was a quick recovery in many countries after that trough when the silver price fell, but the robust growth after that was largely driven by India. That country’s growth was in turn mainly due to rising disposable incomes plus supportive structural factors. As explained, this year has proved tough, with demand expected to fall by 23% due to COVID damage. On a more positive note, we are forecasting a healthy recovery next year of 13%. Looking at key Silver Jewelry Markets, the report says, India is by some margin the largest producer, accounting for 35% of total fabricati...