Tuesday, 24th August 2004 (5053 views)

Indian consumers are purchasing an increasing amount of jewellery containing diamonds and gold, as the average shopper opts for the pieces which were once only favoured by the rich.

Trade experts have claimed that the demand for custom made gold and diamond jewellery has also created a surge in training institutes to create talented jewellery makers.

Upkaran Singh Chawla, of Mumbai-based Dolsun Jewels, told Business India: "Over the last couple of years we have been noticing that 25 per cent of our customers who never bought diamonds are doing so. They start with buying diamond studded jewellery worth Rs.10,000 ($215) to Rs.15,000 ($323) and then go up."

Ajay Kapoor of the leading New Kapoor Jewellers added: "The phobia about diamonds being affordable by only the elite class is gone. In the last few years we have been recording over 60 percent growth in sale of diamond jewellery."

In addition, designer jewellery is being made more affordable at new Indian companies, prompting women to buy more glamourous pieces for everyday wear.

Although the price of gold has risen considerably in the last two years, India is still a key importer and consumer of the precious metal.

 

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