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Tuesday, 20th May 2008 (2817 views)

Jewellery retailing is set for a "major expansion" in India as a number of "big names" enter the organised retailing market, according to reports.

Newindpress.com says market analysts predict the sector will grow by 40 per cent from its current value of around 22 billion rupees (£262.91 million) thanks to a number of Indian jewellery houses opening their own shops.

Companies that have already entered the organised retail market in the north and south of the country include Alukas, Bhim, Malabar Gold and Kalyan Jewellers, the site says.

It adds that the entry of Rajesh Exports - one of India's largest manufacturers of jewellery - into the sector has "set a new tone".

The company may also come to challenge Indian jewellery heavyweights such as Titan and Tanishq in the branded jewellery sector.

According to news agency Reuters, India is the biggest consumer of gold in the world, with imports hitting a record level earlier this year of approximately 800 tonnes - 600 tonnes of which goes towards making jewellery.

 

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