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What Type of Growth Is Expected for Diamond Jewelry Designs?   by Ana sami

Diamond jewelry designs have been the preferred choice for the American jewelry buyers. And now, the trend is extending to the countries like India that has traditionally been a gold-favored market. Most of the recent statistics and future forecasts indicate the growth of diamond manufacturing as well as diamond consumption in India.

The diamond jewelry manufacturers from India are highly optimistic about the country's dominance in the jewelry market to increase in the upcoming years. There are many factors that favor the expected growth of diamond jewelry manufacturing. The following discussion highlights those factors and other noteworthy points for the growth of diamond jewelry manufacturing.

Major Markets
The diamond jewelry manufacturing industry involves three different sets of countries - the raw material suppliers, the diamond jewelry manufacturers and the retail markets. The African continent is indeed the major source of raw material, while Australia, Canada and Russia two have significant contributions. The countries like India, China, Italy and Turkey are involved in manufacturing and processing diamond jewelry designs.

As far as the retail markets of diamond jewelry are concerned, the United States lead with 45 percent of the total consumptions. Other major retail markets are in the countries belonging to the group of European Union. Far East and Middle East too have high consumption of diamond jewelry designs.

India as Manufacturer and Consumer
The diamond jewelry design market is one of the biggest foreign currency earners for India. The diamond jewelry designs from India contribute more than 12 percent of the total exports from the country. The Indian diamond jewelry manufacturers are supported by the following favoring points:
* Low per carat cost of US$ 10 for cutting and polishing diamonds.
* Strong support from the government authorities.
* Emergence of corporate houses in diamond jewelry manufacturing.
* Skilled manpower in huge numbers.
* Global sale opportunities through b2b markets.

The compound annual growth rate of 14 percent is expected for the Indian jewelry sector from 2009 to 2012 anddiamond jewellery designsmake a major contribution towards it.

In 2010-2011, the demand for diamond jewelry is expected to grow up to $6.1 billion. This accounts for 50 percent growth from the current demand of $4.1 billion. The main reasons for the growing demand of diamond jewelry in India include:
* Spike in the gold jewelry prices has inspired the Indian jewelry buyers to find more value in diamond jewelry.
* High profile diamond jewelry designs lure youngsters as well as families on the occasions like Valentine's Day, festival seasons, wedding and others.
* Organized retail space in the country also contributes towards the rise in demand for the diamond jewelry.
* Diamond jewelry shows, exhibitions and extensive advertising campaigns are other reasons for the same.

Interestingly, the Indian diamond jewelry manufacturers have started exploring retail markets in China. This is expected to further boost the image of the country on the global map of diamond manufacturing. The contribution of India as manufacturer and consumer of diamond jewelry is bound to grow further in the upcoming years.

About the Author

Author has wide knowledge of B2B Marketplace and Business industries. For latest updates and business opportunities on diamond jewellery and diamond jewellery designs, Visit online product catalog Catalogs.indiaMART.com