Paper Title
IMPACT OF GLOBALIZATION ON GOLD ORNAMENT MARKET IN INDIA: AN OVERVIEW
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Registration ID: IJNRD_184832
Published ID: IJNRD2212324
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Keywords
phenomenal growth in gold ornament exports; diamantaires; World Gold Council (WGC)
Abstract
India plays a very significant role in world's gold ornament market, equally as a source and a consumer. The size of the Indian gold ornament market is the largest in the world, second only to the US market, followed by China, Japan and Italy. India is known to be the largest consumer and fabricator of gold in the world. Indian designers have made a mark on the world gold ornament scene and won recognition for design development as well. The phenomenal growth in gold ornament exports is a record among the large Indian exports sectors. In fact, the gold ornament industry presents itself as perfect case study for discussing how to build competitiveness of Indian industries. The diamantaires and gold ornament markets and their devoted and skilled artisans have shown that even an unorganized sector industry can achieve international competitiveness. The Indian gold ornament industry was the first one to absorb and assimilate the true spirit of globalization by integrating itself with the world gold ornament industry. But still according to the reports of World Gold Council (WGC), India has tremendous potential, not yet exploited, for gold ornament exports. India has, in current, largest artisans for making gold ornament in the world. Practically, every village boasts of a family of goldsmiths, having a very long tradition of gold ornament making. Indian hand-made gold ornament has a large ethnic demand in several countries sizeable Indian emigrant population such as the Middle-East, South-East Asian countries, USA, Canada and so on. Indian machine-made gems and gold ornament products will also generate demand from non-ethnic gold ornament markets abroad. Thus the need of the hour is to create fusion of Indian and Western fashion.
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How To Cite (APA)
DR VIJAY KUMAR (December-2022). IMPACT OF GLOBALIZATION ON GOLD ORNAMENT MARKET IN INDIA: AN OVERVIEW. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(12), d224-d227. https://ijnrd.org/papers/IJNRD2212324.pdf
Issue
Volume 7 Issue 12, December-2022
Pages : d224-d227
Other Publication Details
Paper Reg. ID: IJNRD_184832
Published Paper Id: IJNRD2212324
Research Area: Commerce
Author Type: Indian Author
Country: MADHUBANI, BIHAR, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2212324.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2212324
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