Chandigarh boasts maximum buyers of diamond jewellery
20 Nov '06
2 min read
Chandigarh has maximum per capita consumption of diamonds in the country, informed Cherie Tandon Saldhana, Director, sales and marketing division of De Beers, the biggest supplier of rough diamonds globally.
Reason for the city reaching number one position in per capita consumption of the most expensive jewellery type could be that during Diwali, wealth is put into diamonds for both investment and gifting purposes.
Cherrie stated that imports of rough diamond fell by 7.5 percent from Rs19,960 crores to Rs18,532 crores in April-September period this year, with exports of polished diamonds falling by 11.5 percent in same period.
She added that for last six years, the diamond business has achieved a unique 20 percent growth per year and company is expecting additional 5 percent rise in this business within April 2007. Booming diamond market proves the strengthening of India's economy.
She said India has 11/12 diamond ratio in global market and over 90 percent of diamonds worldwide are polished in the country. About 3 million craftsmen are employed by retail diamond business, which has reached Rs7,800 crores.
She further said that due to increasing awareness among customers, they ask for certification of diamonds before purchasing to avoid being duped by jewelers. But diamonds make up just 12 percent of overall jewellery trade in the country, whereas gold still accounts for 80 percent.
marketing@alchempro.com
