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Changing Trends of Gold Jewellery Industry in India
The term ‘Jewellery’ stems from the French word ‘joule’ back in the 13th century. Jewellery is a type of embellishments generally made up of precious beads, precious gems etc.

The term ‘Jewellery’ stems  from the French word ‘joule’ back in the 13th century. Jewellery is a type of embellishments generally made up of precious beads, precious gems etc. Jewellery is often regarded an inseperable part of Indian culture since inception.  Gold Jewellery has always held a pivotal position in the Indian social construct. Its demand is never seen going down. 

Gold jewellery is regarded as the depository of value and a key signifier of wealth. Gold Jewellery has turned out to be the most common investment aid for numerous people in the country. Gold jewellery is one of the important adornments of Indian brides- it is their ‘streedhan’. Jewellery is not just a way to add on to a person’s beauty or wealth, it is worn to signify the Indian religious rituals.

Recent studies have shown that the Jewellery Industry is one of the fast blooming industries in India. This industry holds a vital place in affecting the country’s economy as it is considered as a foreign exchange earner. Gold Jewellery comprises 80% of the country’s jewellery market. Researches have pointed out that 37% of the gold jewellery is put to used in South, 32% in the West, followed by 18% and 13% in North and East respectively. 

There are numerous reasons why India ranks high in the use of gold jewellery-

• It is often regarded as a secure investment,

• Gold jewellery is preferred during wedding rituals and in any sort of auspicious occasions

• Rural demand is generally high for gold owing to the non-taxation of income earned through agriculture.

• To meet up with the new trends.

• Increase in per captia income which increases savings, thereby raising the purchasing power of the people.

Tamil Nadu and Kerala are often considered as the hub of gold jewellery as the precipitate consumer market of gold is high here. Cities such as Madurai, Trichy, Salem and Coimbatore are few of the quintessential centres for the sale of gold. It is interesting to note that Tamil Nadu is the state where inflation in the price of gold have least effect on the purchase of it.

Coimbatore is one of the prime place for gold jewellery manufacturing. It is basically known for machine-made jewellery and cast jewellery. Tamil Nadu is home to around 30,000 unorganized, family run jewellery shops and countless organized stores. 

The growth of the gold jewellery industry in the country in general and in Southern states in particular have contributed to the betterment of the society. As the number of organized as well as unorganized jewellery market is more, this industry provides employment to a large section of the people. 

As per Gold Jewellery Suppliers, gold jewellery industry is the key player in increasing the exports of the country as it is the second largest forex earner after textile and apparel sector.

Despite being so much in demand and holding an irreplacable position in the consumer market, gold jewellery industry have to deal with certain issues in order to compete globally. As this sector is largely unorganized, and makes use of labour intensive techniques, add up to the hinderance in its growth prospects. 

Banks and other financial institutions are often hesitant in providing financial aids to the retailers owning family-run jewellery business.

Inflating prices of the gold have not stopped the people from buying gold. Rather it has reduced its use. Nowadays people tend to prefer light designer jewellery rather than the heavy gold jewellery.