In an attempt to overcome the slowdown in trading activity due to the crisis in the gold market, Indian jewelry companies engaged in the promotion of diamonds in order to stay afloat. It can be considered a coincidence, but lately there has been a growing demand in India for diamonds, and jewelers use all means to not miss the opportunities that are opening up.
Some jewelry companies have focused their attention on overseas markets such as Dubai and Singapore, where a significant part of the Indian population resides, constituting an impressive target audience.
Leaders of the Indian market - Titan Industries and Gitanjali Gems - actively promote diamond jewelry produced with less gold, and also open retail stores in Singapore and Dubai. Gitanjali not only activated the advertising of diamond jewelry, but also promotes jewelry with gold of lower sample and silverware.
Jewelry companies are thinking about selling products made of 14-carat gold and on the domestic market, although this segment is currently underdeveloped. Thanks to these measures, jewelers can control the import of gold. Usually, jewelers produce articles using silver and copper to reduce the purity of gold. And in any case, diamond products contain 20-25% less gold compared to the usual products of 22-carat gold. It is worth noting that Indian consumers are much slower to get used to jewelry from low-grade gold, unlike buyers in the US market.