Gems And Jewellery

Gems And Jewellery Consulting Services
Gems And Jewellery management consultant in India

The Gems and Jewellery industry in India is a flourishing and growing one. They are symbols of social distinction and are always in demand, India has been among the most trusted with working gems and jewelry for its ancient practices and knowledge of metals. The industry heavily depends on exports. This is one reason why the government is actively supporting and laying initiatives to grow the gems and jewelry industry in India.

 

The industry has an excellent network of mining, wholesalers, and retailers throughout the country. Gold, diamond, silver, and platinum are among the most frequently traded precious metals in India. Other precious stones are mainly exported or are in India to be processed upon. With the abundance and expert yet unskilled laborers, India provides an opportunity of international standard processing on gems and jewels at very cost-effective rates.

 

The industry has quite a few prominent players, and the micro, small and medium enterprises are mostly limited to wholesaling and retailing avenues. In recent times, many MSMEs have invested in becoming a part of this industry. Overall the industry has a good future and is eyeing fast growth in the coming times.

Key Statistics And Projections For Gems And Jewellery Industry:

The Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 7 percent of the country’s GDP and 15 percent to India’s total merchandise exports. It also employs over 4.64 million workers and is expected to employ 8.23 million by 2022.

India’s gems and jewellery sector is one of the largest in the world contributing 29 per cent to the global jewellery consumption. The sector is home to more than 300,000 gems and jewellery players. Its market size will grow by US$ 103.06 billion during 2019-2023.

Online sales are expected to account for 1-2 per cent of the fine jewellery segment by 2021-22. Also, the relaxation of restrictions of gold import is likely to provide a fillip to the industry.

The cumulative Foreign Direct Investment (FDI) inflows in diamond and gold ornaments in the period April 2000 – December 2019 were US$ 1.17 billion, according to the Department for Promotion of Industry and Internal Trade (DPIIT).

(All the projections have been made by India Brand Equity Foundation, which is developed by Department of Commerce, Ministry of Commerce and Industry, and The Government of India and also through economic times of India)

Management Consulting Firms For Gems And Jewellery Industry

Though the gems and jewelry industry in India is flourishing and growing, there are many places where players can benefit from outside counsel. The industry has a strong network in the whole country. However, still product-wise many regions dominate, like Surat and Mumbai dominate the diamond market in terms of processing and trading.

 

Processing of precious stones isn’t discussed much but is an integral part of the industry. It can be polishing a precious metal, designing it as per jewelry design, or storing it in forms of the bar, plates, or just gems. Several MSMEs are part of this industry. Every micro, small and medium enterprise, either process, wholesalers or retailers these gems and jewelry. Gems and Jewelry Consulting Company provides services like Business Growth Consulting, Revenue Growth Consulting, and Organizational Growth Consulting can scale up their operations or help them establish themselves in the other channels.

 

Digital marketing, marketing consultants, and sales consultants can help MSMEs establish themselves as a brand. Today consumers prefer buying from the enterprises they are familiar with. HR consultants can help manage the teams, IT consultants and technology consultants suggest the best security measures and the same for other functions. Operations and production consultants can help in increasing the efficiency and effectiveness of the process on these metals.

Jewellery Consulting Services in India

Value Growth Audit In Gems And Jewellery Industry

The value growth audit is an innovative, digitalized, and well-structured management audit for your business. It automates many of the management consulting services and examines business performance thoroughly. It is based on a value growth matrix, which consists of several models and matrices to cover all business aspects and management functions, to provide coherent and quantifiable strategies.

 

The matrix is designed by many expert and experienced management consultants who have considered every business problem that a business can encounter. The matrix is also continuously growing and learning the dynamic business environment to support all current changes and trends in the industry.

 

The platform provides a detailed report on every aspect of the business. Our value growth auditors will then assess the report, which will have standardized solutions to the mentioned business problems. The auditors are already aware of your business, target audience, objectives, market conditions, and situations will customize the decided solutions so that you can receive a faster and better response.

Key Benefits Of Value Growth Audit for Gems and Jewelry Industry:

VGA has several benefits for multiple industries and their individual sectors. For gems and jewelry also it has certain key benefits:

Building a path of survival, growth, and expansion for the company.

Check the efficiency in managing various operations and tasks, if required, then advising better courses of action.

The solutions suggested by it are as per current policies, norms, and regulations of India's government.

Suggests the necessary changes in the business plan, processes, or working environment for better customer satisfaction.

Provide an in-depth study on cost minimization and better space utilization of your premise.

Sectors We Cater Under Gems And Jewelry Industry:

Every industry has several sectors in itself. Gems and Jewelry industry also has different sectors, and VGA can cater to almost every sector in every different industry:

Cut and Polished Diamonds

Gold Jewellery

Gold Medallions and Coins

Colored Gemstones

Silver Jewellery

Pearls

Synthetic Stones

Rough Diamonds

Others

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