May 2013, the Indian jewelery and jewelry industry has been in a very difficult situation due to the limited access to gold, the favorite jeweler's metal, according to a weekly message from Diamond World. Duties on the import of gold were raised and a directive was issued on the implementation of gold purchases on the basis of full prepayment. The fall of the Indian rupee did not add to the optimism of the industry.
Indian consumers prefer gold jewelry, and the latest trends and innovations have given jewelry manufacturers cause for serious concern about sales and falling supplies. Jewelers faced the need to create and stimulate alternative demand - for diamond jewelry.
Now market participants will need innovation and creative thinking to ensure sales growth. It should be noted that the current situation can lead to the emergence of new solutions in the range of jewelry products and design, such as the production of gold from a lower sample, which will create large jewelry and expand the choice of Indian consumers.