The Indian Gems and Jewellery industry is one of the fastest growing segments in the Indian economy with an annual growth rate of approximately 16 per cent.
The domestic market is estimated to be around US$ 16.1 billion and CII expects it to grow to US$ 30 billion in the next 4 years. The country is also the largest consumer of gold in the world. It consumes in excess of 800 tonnes of gold that accounts for 21 per cent of world gold consumption, of which nearly 620 tonnes go into making jewellery. India is also emerging as the world's largest trading centre for gold targeting US$ 17 billion by 2011. The industry has the best skilled manpower for designing and producing high volumes of exquisite jewellery at low labour costs.
India is the largest diamond cutting and polishing centre in the world—the industry enjoys 60 per cent value share, 82 per cent carat share and 95 per cent share of the world market in terms of number of pieces. In other words, nearly 9 out of 10 diamonds sold worldwide are cut and polished in India. India exported cut and polished diamonds worth US$ 14.18 billion in 2007-08.
The Indian Gems and Jewellery market continues to be dominated by the unorganized sector. However, with the Indian consumer becoming more aware and quality conscious, branded jewellery is becoming very popular and the market for branded jewellery is likely to be worth US$ 2.2 billion by 2010, according to a McKinsey report. Moreover, the government allows 51 per cent FDI in single brand retail outlets, attracting both global and domestic players to this sector. The World Gold Council recently estimated the size of India's gold coin market at about US$ 2.11 billion.
Key Initiatives / Information
Confederation of Indian Industry (CII) and United States-India Educational Foundation (USIEF) announce the Fulbright-Nehru-CII Fellowships for Leadership in Management Program for the academic year 2012-2013. Indian business managers, whose employers would be willing to bear 50% (US$ 18,400) of the total cost (US$ 36,800), may compete to attend this specially designed management program at the Carnegie Mellon University’s Tepper School of Business in Pittsburgh from May 23 to July 31, 2012. Aimed to broaden overall perspectives and to strengthen strategic, functional and leadership skills in global business, this program combines classes with group work, industry visits, and networking.
Complete announcement matter and application materials are available at USIEF website www.usief.org.in.
November 15, 2011 is the application deadline.
76th CII Northern Region Business Outlook Survey is a quarterly study conducted to gauge the sentiment in the economy. Earlier, the survey was conducted bi-annually, but from the 74th Survey onwards the study is conducted on a quarterly basis in order to get a more frequent indicator of business sentiment. The current survey gives an outlook on business sentiments for the first quarter of 2011-12 as compared to the last quarter of 2010-11.
The CII National Committee on Gems & Jewellery has been an essential part of industry’s policy advocacy. Some important issues of concern that need policy reforms for the overall growth of the industry include direct import of gold, infrastructure etc.
CII News Update
The 4 day Made in Pakistan Show, organised by Confederation of Indian Industry (CII), opened at Himachal Bhawan, Sector 28, here in Chandigarh on Wednesday and Attracted good crowds, especially women. The Show was formally inaugurated by Mr Anil Kumar, Home Secretary, UT Chandigarh. .....
Continuous Change and Improvement is the key driver for overall growth of the Organisation said by Dr Krishan Kumar, Former Director, Maruti Centre of Excellence (MACE) in his special address at the 4th Lean Six Sigma Summit organized by Confederation of Indian Industry (CII ) NR in New Delhi, toda.....
Consulting / Advisory Services
Six Sigma approach is being widely used all over the world for reduction in process variation and waste elimination.
Total Productive Maintenance, shortly termed as TPM, is the concept originated and developed by Japan Institute of plant Maintenance (JIPM) Tokyo, since late sixties. JIPM-TPM is the key for the operational excellence for many Japanese companies.
Legal metrological requirements, relevant to the manufacturing sector, as laid down by way of standards under the Weights and Measures Act, 1976 and the Packaged Commodity Rules, 1977 have assumed critical importance in modern production lines.
CII and Export-Import (EXIM) Bank of India jointly established the Award for Business Excellence in 1994 with the aim to enhance the ''Competitiveness of India Inc.'' The Award is based on the EFQM (European Foundation for Quality Management) Model for Excellence.
The key to ensure sustainable Quality up gradation and continuous improvement in an Organization is the willingness of its employees to adapt to changing paradigms.
Increased global competition has forced companies to think aggressively about effective Cost Management. A low cost high quality product has become an object of desire, to gain a competitive edge. It is essential that cost management addresses not just individual activities or cost centres but the e
To gain a competitive edge in today''''''''s marketplace, an organization must embrace new ideas and processes and requires constant improvement. Manufacturing Excellence is an imperative tool that leads an organization to the path of competitiveness. The underlying objective of these initiatives is
CII Awards & Recognitions
CII and Export Import Bank of India have, in 1994, jointly established the CII-EXIM Bank Award for Business Excellence, with the aim of enhancing the Competitiveness of India Inc. The Award is based on the internationally recognized EFQM Excellence Model.