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Wednesday, 7th January 2009 (1810 views)

The rural market in India is responsible for more jewellery sales than those living in urban areas, experts have stated.

All India Gems and Jewellery Association president, Ashok Minawala, told the Hindu Business: "Jewellery sales will continue to grow more in rural areas, tier I and II cities, as compared to the metro and other large cities."

His opinion was echoed by Dinesh Jain of PM Shah Jewellers, who predicted that rural areas will witness a 40 to 60 per cent increase in jewellery sales, compared with around ten to 15 per cent in urban areas.

Mr Jain suggested that those in rural areas are purchasing gold jewellery for investment and marriage, despite the recent economic slowdown.

Meanwhile, Malabar Gold has opened a new Mine fine jewellery store in association with Mahendra Brothers in Kochi, Kerala, specialising in bridal jewellery, Indiopia has reported.

The store is the sixth Mine shop from retail jewellery chain Malabar Gold in India, in addition to outlets in Bangalore, Hyderabad, Erode and Mangalore.

 

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