A

Project Report

On

Manufacturing and export of jewellery

Submitted in Partial Fulfillment for the Degree of

Bachelor of Business Administration

S.S. JAIN SUBODH P.G. (AUTONOMOUS) COLLEGE, JAIPUR

(2018-19)

SUBMITTED BY SUBMITTED TO

Saksham trivedi Dr. Swati Tiwari

B.B.A.Vth Sem. Asst. Professor

1741126
 TO WHOM SO EVER IT MAY CONCERN

This is to certify that Mr. Saksham trivedi s/o Mr Sanjay trievdi a student of
BBA S.S. JAIN SUBODH P.G. (AUTONOMOUS) COLLEGE, JAIPUR,
RAJASTHAN INDIA has successfully completed (From 1st July 2018 to 14th
August 2018) short term internship programme at Teleperformance Jaipur
During the period of his internship programme with us, he was found punctual,
hardworking, and inquisitive.

We wish him every success in life.

 CERTIFICATE

This is to certify that the Project Report entitled “A Study on The Recruitment
and Selection in Teleperformance” is a record of project work done
independently by Saksham trivedi under my guidance and supervision and that it
has not previously formed the basis for the award of any degree, fellowship or
associate ship.

Dr. Swati Tiwari

Asst. Professor

S.S. Jain Subodh P.G. (Autonomous) College

Jaipur
 DECLARATION

I, SAKSHAM TRIVEDI student of BBA Sem V hereby declare that the project
work presented in this report is my own work and has been carried out under the
supervision of Dr. Swati Tiwari of S.S Jain Subodh P.G. (Autonomous)College.

This work has not been previously submitted to any other university for any
examination.

SAKSHAM TRIVEDI

S.S. Jain Subodh P.G.(Autonomous)College

Jaipur
 ACKNOWLEDGEMENT

It is not often in life that you get a chance of appreciating and expressing your
feelings in black and white to thank the people who have been a crucial part of
your successes, your accomplishments, and your being what you are today. I take
this opportunity to first of all thank the Faculty at S.S. Jain Subodh
P.G.(Autonomous)College, especially Dr. K.B. Sharma, Principal, and Dr. Rita
Jain, Head, Department of BBA for inculcating and instilling me the
knowledge, learning, will-power, values and the competitiveness and
professionalism required by me as a management student.

I would like to give special thanks to Dr. Swati Tiwari for educating me silver
lining in every dark cloud. Her enduring efforts, guidance, patience and enthusiasm
have given a sense of direction and purposefulness to this project and ultimately
made it a success. I express my sincere and heartiest thanks to everyone who has
contributed towards the successful completion of the Project.

Last but not the least; I would like to thank my family: my parents for supporting
me spiritually throughout my life.

The errors and inconsistencies remain my own.

Saksham trivedi
 CONTENT
Sr. No. Topic Page No.

1 Gems and Jewellery industry In india

2 Introduction of the Industry

3 Profile of the Company
4 Review Of Literature
5 Research Methodlogy
6 Objectives of Study
7 Limitation and scope
8 Analysis and Finding
9 Conclusion
10 Bibliography
11 Annexure
 CHAPTER-1

INTRODUCTION
 What is Manufacturing?

Manufacturing is the making of goods by hand or by machine that upon completion the business
sells to a customer. Items used in manufacture may be raw materials or component parts of a
larger product. The manufacturing usually happens on a large-scale production line of machinery
and skilled labor.

Types of Manufacturing Processes

MAKE TO STOCK

MAKE TO ORDER

MAKE TO ASSEMBLE

Manufacturing is a very simple business; the owner buys the raw material or component parts to
manufacture a finished product. To function as a business the manufacturer needs to cover costs,
meet demand and make a product to supply the market.

A factory operates one of three types of manufacturing production:

 Make-To-Stock (MTS) – A factory produces goods to stock stores and showrooms. By

predicting the market for their goods, the manufacturer will plan production activity in
advance. If they produce too much they may need to sell surplus at a loss and in producing too
little they may miss the market and not sell enough to cover costs.
 Make-To-Order (MTO) – The producer waits for orders before manufacturing stock.
Inventory is easier to control and the owner does not need to rely as much on market demand.
Customer waiting time is longer though and the manufacturer needs a constant stream of
orders to keep the factory in production.

 Make-To-Assemble (MTA) – The factory produces component parts in anticipation of orders

for assembly. By doing this, the manufacturer is ready to fulfil customer orders but if orders do
not materialize, the producer will have a stock of unwanted parts.

Keeping Risks Under Control is Key

With all three types of manufacturing there are risks. Supply too much and you flood the market,
causing a drop in price and a drop in profits. By not meeting demand, the customer may go
elsewhere with a drop in sales for the manufacturer. Quality control is also a big factor in
successful manufacturing. The manufacturer will need to keep a close eye on quality of product
from beginning to end, with many tests along the way. If mistakes happen, the long-term
consequences may be serious.

A manufacturing business may need many parts for the complicated assembly of a quality
product or just the few for making a simple good. Keeping production costs to a minimum,
having good quality control and excellent sales management are key to reducing the risk in any
type of manufacturing.

TYPES OF MANUFACTURING INDUSTRIES

1. Clothing and Textiles :

2. Petroleum, Chemicals and Plastics
3. Electronics, Computers and Transportation
4. Food Production
5. Metal Manufacturing
6. Wood, Leather and Paper
Types of Manufacturing Jobs

 Food, Beverage, and Tobacco

 Textiles, Leather, and Apparel
 Wood, Paper, and Printing
 Petroleum, Coal, Chemicals, Plastics and Rubber
 Nonmetallic Mineral
 Primary Metal, Fabricated Metal, and Machinery
 Computer and Electronics
 Electrical Equipment, Appliances, and Components
 Transportation
 Furniture
 Miscellaneous Manufacturing

Process of manufacturing

JOINING OR
MOLDING OF
ASSEMBLING
PRODUCTS
PARTS

SHEARING AND
FORMING MACHINES IN
MANUFACTURING
Molding of products
Molding is one of the most popular types of manufacturing processes that’s being
used for products that start out as liquids. Casting is one of the popular forms of
molding and involves heating plastics until it turns liquid and then pouring it into a
mold. The mold is designed in the desired shape of the final product. Once the
plastic cools, the mold is removed, and the product is formed in the shape which was
intended. Manufacturers also use such types of manufacturing processes to make
plastic sheets, which has a wide variety of applications. Some of the common types
of molding include blow molding, which used to make piping and milk bottles;
injection molding, which melts plastic to create 3-D materials such as butter tubs
and toys; compression molding, used for large-scale products like car tires; and
rotational molding, used for furniture and shipping drums.
Joining or assembling parts
The parts manufactured cannot function in isolation. This makes joining or
assembling one of the integral types of manufacturing process. Joining uses
processes like welding and soldering to apply heat to combine materials. Pieces can
also be joined using adhesive bonding or fasteners. Welding doesn’t require
overlapping materials, and so it removes excess weight brought on by other
fastening methods. This eliminates the requirement of fasteners purchased and stored
in stock. Welding helps reduce the costs related to extra parts, for example, angles
mounted between parts.
Shearing and forming
Shearing comes handy when dealing with sheet metal. The process of shearing uses
cutting blades to make straight cuts into a piece of metal. Such types of
manufacturing are also often referred to as die cutting and are often used on
aluminum, brass, bronze and stainless steel. Forming is another important function
among the different types of manufacturing, which uses compression or another type
of stress to move materials into the desired shape. Forming is often used with metal,
however, it can also be used on other materials, including plastic.
Machines in manufacturing
Machines are an important element of every manufacturing process, especially in the
production of products like metal parts. Today, tools like saws, sheers, and rotating
wheels are being used in manufacturing units. Innovations such as laser machines
have the capability to cut a piece of metal using a high-energy light beam and
plasma torches can easily turn gas into plasma using electricity

EXPORT

Exports are the goods and services produced in one country and purchased by residents of
another country. It doesn't matter what the good or service is. It doesn't matter how it is sent. It
can be shipped, sent by email, or carried in personal luggage on a plane. If it is produced
domestically and sold to someone in a foreign country, it is an export.

Exports are one component of international trade. The other component is imports. They are the
goods and services bought by a country's residents that are produced in a foreign country.
Combined, they make up a country's trade balance. When the country exports more than it
imports, it has a trade surplus. When it imports more than it exports, it has a trade deficit.

Distribution channel of exports

INDIRECT EXPORTING

The principal advantage of indirect marketing for a smaller company is that it provides a way to
penetrate foreign markets without the complexities and risks of direct exporting. Several kinds of
intermediary firms provide a range of export services. Each type of firm offers distinct
advantages for the company.

Commission agents
Commission or buying agents are finders for foreign firms that want to purchase domestic
products. They seek to obtain the desired items at the lowest possible price and are paid a
commission by their foreign clients. In some cases, they may be foreign government agencies or
quasi-governmental firms empowered to locate and purchase desired goods. Foreign government
purchasing missions are one example.

Export management companies

An EMC acts as the export department for one or several producers of goods or services. It
solicits and transacts business in the names of the producers it represents or in its own name for a
commission, salary, or retainer plus commission. Some EMCs provide immediate payment for
the producer's products by either arranging financing or directly purchasing products for resale.
Typically, only larger EMCs can afford to purchase or finance exports.

EMCs usually specialize either by product or by foreign market or both. Because of their
specialization, the best EMCs know their products and the markets they serve very well and
usually have well-established networks of foreign distributors already in place. This immediate
access to foreign markets is one of the principal reasons for using an EMC, since establishing a
productive relationship with a foreign representative may be a costly and lengthy process.

DIRECT EXPORTING

The advantages of direct exporting for a company include more control over the export process,
potentially higher profits, and a closer relationship to the overseas buyer and marketplace. These
advantages do not come easily, however, since the company needs to devote more time,
personnel, and corporate resources than are needed with indirect exporting.
When a company chooses to export directly to foreign markets, it usually makes internal
organizational changes to support more complex functions. A direct exporter normally selects
the markets it wishes to penetrate, chooses the best channels of distribution for each market, and
then makes specific foreign business connections in order to sell its product. The rest of this
chapter discusses these aspects of direct exporting in more detail.

Organizing for exporting

A company new to exporting generally treats its export sales no differently from domestic sales,
using existing personnel and organizational structures. As international sales and inquiries
increase, however, the company may separate the management of its exports from that of its
domestic sales.

The advantages of separating international from domestic business include the centralization of
specialized skills needed to deal with international markets and the benefits of a focused
marketing effort that is more likely to lead to increased export sales. A possible disadvantage of
such a separation is the less efficient use of corporate resources due to segmentation.

When a company separates international from domestic business, it may do so at different levels
in the organization. For example, when a company first begins to export, it may create an export
department with a full or part-time manager who reports to the head of domestic sales and
marketing. At later stages a company may choose to increase the autonomy of the export
department to the point of creating an international division that reports directly to the president.

Larger companies at advanced stages of exporting may choose to retain the international division
or to organize along product or geographic lines. A company with distinct product lines may
create an international department in each product division. A company with products that have
common end users may organize geographically; for example, it may form a division for Europe,
another for the Far East, and so on. A small company's initial needs may be satisfied by a single
export manager who has responsibility for the full range of international activities. Regardless of
how a company organizes for exporting, it should ensure that the organization facilitates the
marketer's job. Schaefer Shelving has a variety of products and solutions for ensuring the
smooth organization of distribution. Good marketing skills can help the firm overcome the
handicap of operating in an unfamiliar market. Experience has shown that a company's success
in foreign markets depends less on the unique attributes of its products than on its marketing
methods.

Once a company has been organized to handle exporting, the proper channel of distribution
needs to be selected in each market. These channels include sales representatives, agents,
distributors, retailers, and end users.

Sales representatives

The representative uses the company's product literature and samples to present the product to
potential buyers. A representative usually handles many complementary lines that do not
compete. The sales representative usually works on a commission basis, assumes no risk or
responsibility, and is under contract for a definite period of time (renewable by mutual
agreement). The contract defines territory, terms of sale, method of compensation, reasons and
procedures for terminating the agreement, and other details. The sales representative may operate
on either an exclusive or a nonexclusive basis.

Agents

The widely misunderstood term agent means a representative who normally has authority,
perhaps even power of attorney, to make commitments on behalf of the firm he or she represents.
Firms in the developed countries have stopped using the term and instead rely on the term
representative, since agent can imply more than intended. Any contract should state whether the
representative or agent does or does not have legal authority to obligate the firm.

Distributors

The foreign distributor is a merchant who purchases merchandise from an exporter (often at
substantial discount) and resells it at a profit. The foreign distributor generally provides support
and service for the product, relieving the export company of these responsibilities. The
distributor usually carries an inventory of products and a sufficient supply of spare parts and
maintains adequate facilities and personnel for normal servicing operations. The distributor
typically carries a range of noncompetitive but complementary products. End users do not
usually buy from a distributor; they buy from retailers or dealers.

The payment terms and length of association between the export company and the foreign
distributor are established by contract. Some export companies prefer to begin with a relatively
short trial period and then extend the contract if the relationship proves satisfactory to both
parties.

Foreign retailers

A company may also sell directly to a foreign retailer, although in such transactions, products are
generally limited to consumer lines. The growth of major retail chains in markets such as Europe
and Japan has created new opportunities for this type of direct sale. The method relies mainly on
traveling sales representatives who directly contact foreign retailers, although results may be
accomplished by mailing catalogs, brochures, or other literature. The direct mail approach has
the benefits of eliminating commissions, reducing traveling expenses, and reaching a broader
audience. For best results, however, a firm that uses direct mail to reach foreign retailers should
support it with other marketing activities.

Manufacturers with ties to major domestic retailers may also be able to use them to sell abroad.
Many large retailers maintain overseas buying offices and use these offices to sell abroad when
practicable.

Direct sales to end users

A business may sell its products or services directly to end users in foreign countries. These
buyers can be foreign governments; institutions such as hospitals, banks, and schools; or
businesses. Buyers can be identified at trade shows, through international publications, or
through government contact.

The company should be aware that if a product is sold in such a direct fashion, the exporter is
responsible for shipping, payment collection, and product servicing unless other arrangements
are made. Unless the cost of providing these services is built into the export price, a company
could end up making far less than originally intended.

Locating foreign representatives and buyers

A company that chooses to use foreign representatives may meet them during overseas business
trips or at domestic or international trade shows. There are other effective methods, too, that can
be employed without leaving the country. Ultimately, the exporter may need to travel abroad to
identify, evaluate, and sign overseas representatives; however, a company can save time by first
doing homework at home. Methods include use of banks and service organizations, and
publications.

Contacting and evaluating foreign representatives

Once the company has identified a number of potential representatives or distributors in the
selected market, it should write directly to each. Just as the firm is seeking information on the
foreign representative, the representative is interested in corporate and product information on
the export firm. The prospective representative may want more information than the company
normally provides to a casual buyer. Therefore, the firm should provide full information on its
history, resources, personnel, the product line, previous export activity, and all other pertinent
matters. The firm may wish to include a photograph or two of plant facilities and products or
possibly product samples, when practical. (Whenever the danger of piracy is significant, the
exporter should guard against sending product samples that could be easily copied.)

A firm should investigate potential representatives of distributors carefully before entering into
an agreement. See table 4-1 below for an extensive checklist of factors to consider in such
evaluations. In brief, the firm needs to know the following points about the representative or
distributor's firm:

 Current status and history, including background on principal officers.

 Personnel and other resources (salespeople, warehouse and service facilities, etc.).
 Sales territory covered.
 Current sales volume.
  Typical customer profiles.
 Methods of introducing new products into the sales territory.
 Names and addresses of firms currently represented.
 Trade and bank references.
 Data on whether the exporting firm's special requirements can be met.
 View of the in-country market potential for the exporting firm's products. This
information is not only useful in gauging how much the representative knows about the
exporter's industry, it is also valuable market research in its own right.

A company may obtain much of this information from business associates who currently work
with foreign representatives. However, exporters should not hesitate to ask potential
representatives or distributors detailed and specific questions; exporters have the right to explore
the qualifications of those who propose to represent them overseas. Well-qualified
representatives will gladly answer questions that help distinguish them from less-qualified
competitors.

In addition, the company may wish to obtain at least two supporting business and credit reports
to ensure that the distributor or representative is reputable. By using a second credit report from
another source, the firm may gain new or more complete information. Reports are available from
commercial firms.
TYPES OF EXPORTS

Export businesses are mainly classified into export-traders, export-manufacturers and service-
exporters.

EXPORT TRADERS

EXPORT MANUFATURERS

SERVICE EXPORTERS

Export-Traders

The export-traders include the export companies known as trading houses, trading
companies, buying offices, buying agents, purchasing agents, resident buyers, sourcing
agents, export representatives, export distributors, export agents, export management
companies (EMCs), and manufacturers' representatives.

The export-trader operates on a buy-and-sell basis or a commission/fee basis, or a

combination of these two. In the buy-and-sell basis, the export-trader buys from export-
manufacturers and adds a markup to the export price. In the commission/fee basis, the
export-trader collects a commission or fee from the export-manufacturer or the foreign
importer, or from both of them without adding a markup to the price.
Export-Manufacturers

Export-manufacturers include the manufacturers, producers, assemblers and processors of export

goods. Export-manufacturers either directly export the goods or indirectly export the goods
through the export-traders.

Service-Exporters

Service-exporters include the banks, ocean shipping (steamship) companies, air cargo
companies or airlines, trucking companies, rail carriers, insurance companies, freight
forwarders or consolidators, consulting firms, and miscellaneous service companies.
Service-exporters provide services to export-traders and export-manufacturers.
CHAPTER-2

INTRODUCTION TO
INDUSTRY
INTRODUCTION

Gems and jewellery Ornaments have been a part of civilizations in India since ages. Jewellery
has been an integral part of the Indian culture as they were in demand and in fashion since
ancient civilization of Harappa and Mohanjodaro. As a well known fact, jewellery can be
adorned to highlight almost any part of the body. Gems and jewellery have been important part
for both aesthetic as well as investment purposes. Masses in India have great fascination for
gems and jewellery to the extent that it plays a significant role in the Indian economy. The
industry is much fascinating being traditionally glamorous and artistically modern. As an
important sector of Indian economy, Gems and Jewellery is a leading foreign exchange earner
for the country. Export of gems and jewellery has been among the fastest growing sectors in
India in recent years. It has gained global popularity because of its talented craftsmen, its
superior practices in cutting and polishing fine diamonds and its cost efficiencies. The gems and
jewellery sector occupies a prominent place in the Indian economy in terms of export earnings,
employment generation, and growth. India has contributed about 80%of the global market in this
sector in terms of carat. This leads to employing over 90% of the global diamond industry
workforce, the country also accounts for about 90%of the volume of diamonds processed in the
world. According to the recent reports, eleven out of twelve diamond stones set in jewellery are
cut and polished in India in this processing is done on rough diamonds in a complete range of
sizes and qualities, including the stones larger than ten carats.

GOVERNMENT POLICIES

Government policies The Indian Jewellery industry is growing with a whopping rate and in the
domestic and export of Gems and Jewellery sector. The shining material of Indian Gems brings
more sparkle to the economy. Exports of Gems and Jewellery make India the second major
foreign exchange earner for the country. As more money is flowing into the industry a new
avenue is open for the professionals to enter the field with changing tastes where Jewel is taking
new shapes and charm. The Indian government has announced several measures for the
promotion of exports for the gems and Jewellery sector in the new foreign trade policy (2009-14)
majorly focusing on:

1. To neutralize duty incidence on gold Jewellery export for participation in overseas exhibitions
the value limit of personal carriage has been increased from US$ 2 million to US $ 5 million.

2. The limiting case of personal carriage as samples for export promotion tours has been
increased from US $ 0.1 million to US $ 1 million.

3. To make India an international diamond trading hub 100 % FDI is permitted in this sector
through automatic route.

4. Finally by setting special economic zones to remote investment in the sector. However the
gems and jewellery export promotion council is not pleased as per the result of the union budget
2012-13, due to the increment in the custom duty on refine gold, resulting in the price hike of
gold as well as diamond and the colored gem stones. India has proved to be a shining star, best
reflected in the surge of gold and jewelry exports which leads to the considerable contribution to
the country’s foreign exchange earnings.

Present position for Gems and Jewellery Industry

It has taken the country a few years to incorporate international designs, styles and finishes as
India was a late entrant to the global jewellery market and its industry took off after
establishment of the export processing zones in 1990, especially the special economic zone in
Mumbai that accounts for 40% of India’s exports. In spite the sector has a well defined
delegation of power with authority limits for approving revenue as capital expenditure, it is
considered to be an unorganized sector as the bulk of the domestic gem and jewellery industry
employees an estimate of 2 million workers serving over 0.1 million gold jewelers and 8,000
diamond jewelers. The domestic production of gold and diamonds is negligible as the industry
has to depend entirely on imported raw material. In this reference location of industrial units in
India are as follows:
a. Contributing in this growth the Special Economic Zone (SEZ) in Mumbai accounts for about
50% of the country’s gems and jewellery exports. Mumbai does have a considerable number of
modern semi-automatic factories and laser-cutting units, majority of which are located in the
special economic zone (SEEPZ) Santa Cruze East Economic Processing Zone.

b. The hub of India’s jewelry industry is Mumbai that receives majority of the country’s gold
and rough diamond imports. However, the neighboring state Gujarat (primarily in Surat,
Bhavnagar, Ahmadabad and Bhuj) has undertaken most of the diamond processing units.

Currently the major destinations for India’s gems and jewellery exports areCountries name
Growth percent United States 28 percent Hong Kong 21 percent UAE 15 percent Singapore 9
percent Belgium 8 percent Future forecast for the growth of Indian Gems and jewellery sector
lies in finding new markets and in adding value. Worldwide, jewellery is a big business, which is
extremely profitable as margins are high compared to diamonds. For diamonds, margins are
relatively low as branding can demand high premiums. The industry has the bright outlook but
how much of this amazing performance will actually translate into improved bottom lines will lie
in the capability of individual business to harness the potential of new markets and products. The
stock performance will depend on how efficiently, in terms of both cost and marketing,
companies can cut and polish diamonds and also venture into lucrative but difficult jewellery
industry with intense competition in the market. The changing structure of India’s exports throws
some interesting light on both demand and supply factor that are increasingly influencing its
production, structures, institutions and policies responding to it. Indian gems and jewellery sector
is expected to grow at a compound annual growth rate (CAGR) of around 16.26 % during the
period 2011-12 to 2016-17 on account of increasing government efforts and incentives coupled
with private.
Technology redefining jewellery

COMPUTER
3D PRINTING
AIDED DESIGN

Computer Aided Design (CAD)

Computer Aided Design (CAD) software is used to create precision drawings or technical
illustrations. CAD software can be used to generate two-dimensional (2-D) drawings or three-
dimensional (3-D) models. Recently this method of creation has been adopted to build a virtual
prototype of any item and can be easily duplicated in the manufacturing process. While this
software has been in use for years and first appeared in the 1960’s, it was not until the late
1980’s that commercial product designs started to develop. Today, consumers can collaborate
with a jeweller to watch their designs come to life on a virtual platform before investing the
money to purchase it. In addition to this, the software allows the consumer to switch between
different types of metal and precious stones to gauge the look of the finished piece.

3D Printing

Many argue that 3D Printing is the future of fine jewellery and with good reason too. This is the
latest step in the mass manufacturing and customisation of jewellery. More and more jewellery
designers are jumping on the technology bandwagon and are producing even complex designs
with the help of 3D printing. With the implementation of 3D printing, the cost of the desired
piece of jewellery also falls significantly. In the years to come, the process will be more refined
and made available for a commercial use at an affordable rate.

Multi-function jewellery

Multi-function jewellery has greater resonance in today’s market where consumers are looking
out for items that can give them multiple looks at a fraction of the cost. Apart from saving on
cost it is also convenient for the consumer. This trend has now turned into an art form with the
help of technology and the versatility of multifunctional jewellery allows women to operate on
smaller budgets to detach, dismantle, add to and refresh their jewellery pieces.

Lasers

Lasers have already transformed the rough diamond manufacturing industry and are slowly
gaining prominence in the jewellery manufacturing segment as well. One of the fastest growing
technologies is the use of laser systems in jewellery making as an alternative to the existing
traditional methods of welding, engraving and cutting of metals. Jewellery designs are constantly
changing and evolving owing to the functionality of lasers which allows diverse shapes to be
engraved onto the metal. Some well-known diamond brands also use this technology for
engraving unique identification numbers and their brand logos on their diamonds.

Online Advertising

By extending advertising to the digital space as well, jewellers are now able to target the
audience more effectively and efficiently. By using online data and analytics, jewellery brands
can now offer consumers jewellery based on their likes. The brands also get an instant response
on their collection’s popularity by doing so. The customers also remain updated about various
jewellery events organised and discounts on offer, which will help boost their sales significantly.
Currently consumers are looking online and researching on the product and checking the reviews
before the purchase.
Online Shopping

With rapidly evolving technology at our disposal, the way we conduct business has changed
drastically. The ecommerce platform played a crucial role in the development of various brands
and industries. It has connected sellers and has buyers across the world, and facilitates seamless
transactions between the two. Online shopping has been a major factor that allows people from
every corner of the globe to search, browse and acquire jewellery of their choice from a host of
selections on display. For those consumers that enjoy a fast paced lifestyle, online shopping is
the perfect alternative to retail shopping - which can get cumbersome at times. In the jewellery
and the luxury space, the look and feel is a very important aspect. Even though the product is
bought offline but the research is always first done online.

Saving Time

Due to the recent technological advancements that have surfaced, the time taken to manufacture
jewellery has decreased significantly. This has propelled the jewellery industry to increase
production to match the increasing demands of consumers’ world over.

Although it is exciting to see the different avenues that technology has opened up, it is also
interesting to see what the future holds for the jewellery industry with integrated technological
viewpoints.
CHAPTER-3
PROFILE OF
THE
COMPANY
ABOUT THE COMPANY

COMPITITORS IN INDIA

Malabar Gold & Diamonds

MP Ahamed, Chairman
TURNOVER: Rs 12,000 crore
Key Business Fact: Among top 5 jewellers in the world
USP: Value for money

Born into a farmer family, MP Ahamed ventured into business in 1979 with an ice-making
factory at Kozhikode. The business failed, and in 1981, he started trading spices and copra.

In 1993, the 36-year-old was advised to try his luck in gold. Ahamed, who has studied till high
school, took the plunge. “I started with the Rs 50 lakh I had earned from my business and opened
the first Malabar Gold & Diamonds showroom at Calicut,” says Ahamed.

At that time, unfair trade practices were rampant. “I started my business with the motto of
transparency. We were one of the first in the industry to introduce 100% BIS hallmarked
jewellery,” he says. A savvy marketer, Ahamed roped in global branding agency Brand Union to
create a distinct corporate image in the highly competitive overseas market.

Malabar now has 82 outlets, of which 52 are in India and 30 in Gulf Cooperation Countries. It
plans to expand to more states in India as well as Indonesia, Malaysia, Thailand, Singapore, Sri
Lanka, the US and UK. “We are among the top five jewellery retailer groups in the world, and
are striving to become number one,” says Ahamed.
2/7
Rajesh Exports
Rajesh Mehta,Chairman
TURNOVER: Rs 30,000 crore
Key Business Fact: Integrated player
USP: No making charges

Rajesh Mehta was a rank holder at the Karnataka higher secondary and senior secondary school
examinations. But instead of pursuing higher education, the 16-year-old joined his father,
Jaswantrai Mehta, in supplying semiprecious and imitation stones to jewellers. “I gradually
developed an interest in the business,” says the 49-year-old Mehta.

In 1982, Mehta borrowed Rs 1,200 from his brother and started manufacturing jewellery in the
garage of their Bangalore home. In 1995, Rajesh Exports entered the capital market with a public
issue and raised Rs 10 crore.

The company mechanised manufacturing to cut costs to below 1%, enabling it to sell jewellery to
retail customers at a ‘real rate per gram’. The company still does not levy making charges.

Mehta has an aggressive roadmap for his business. “Within four years, we plan to have 2,000
showrooms pan-India,” says Mehta.
3/7
Senco Gold Jewellers
Suvankar Sen, ED
TURNOVER: Rs 900 crore
Key Business Fact: Largest player in West Bengal
USP: Affordable bridal jewellery

When Suvankar Sen (29), joined his family business in 2007, he had an inheritance to build on.
His great grandfather, Maranchand Sen, ventured into the gold jewellery business 75 years
ago.Suvankar’s grandfather, Prabhat Chandra Sen, joined the business in 1950 and in 1968,
opened the first shop in Kolkata’s jewellery hub, Bowbazar. And by the time Suvankar joined
the business, his father, Shankar Sen, ran a chain of 30 stores.
“I have added 16 new stores and we have expanded to Odisha, Assam, Jharkhand and Delhi. We
now have the largest number of retail outlets in West Bengal,” says Suvankar, an MBA from
IMT Ghaziabad. Senco is also exporting to Dubai, Singapore, the US and UK.

Suvankar’s training has helped him give the business a professional edge. “My focus is to
highlight the art and creativity that gold artisans from Bengal are famous for,” he says.But the
major obstacle, he says, is that customers in West Bengal are extremely price sensitive. This has
forced Suvankar to expand his business to other parts of India.

His other regret is that work takes away his leisure time. “I would love to go to Bali, my
favourite destination,” says Suvankar, rushing into a video conference with an overseas client.
4/7
Krishniah Chetty & Sons
C Vinod Hayagriv, Managing Director
TURNOVER: Rs 600 crore
Key Business Fact: Jeweller to the rich and famous
USP: World-class design

In the 1800s, Cotha Krishniah Chetty started out by selling Armenian coloured beads to the
British in Bangalore Cantonment. The company was appointed as distributor for Rolex of
Switzerland, and imported products from Mappin & Webb, and The Goldsmiths and
Silversmiths Company of London.

“Rolex made diamond-encrusted dials with the name C Krishniah Chetty & Sons on top. Not
many companies in the world can claim that honour,” says C Vinod Hayagriv, a fifthgeneration
family member who joined the company in 1981, fresh out of school. This year, it is the only
Indian company to be selected in an Antwerp contest on design, he adds.

And now that his two gemologist sons have joined the business, the avid golfer and traveller can
look back at his own imprint on the company. “Excellence is a process. I am not tired, and that is
something I could be happy about,” he says.
5/7
Tribhovandas Bhimji Zaveri
S Gopaldas Zaveri,CMD
TURNOVER: Rs 1,385 crore
Key Business Fact: Public listing in May 2012
USP: Strong brand recognition

When Shrikant Gopaldas Zaveri joined the family business at 19, he already had a business
philosophy. “I knew the tricks of the trade and the areas where I could add value to the
business,” says Zaveri, who took over as CMD in 2000.

Selling jewellery was in his blood. In 1864, the late Shri Bhimji Zaveri started Tribhovandas
Bhimji Zaveri (TBZ) in a tiny tin shack at Mumbai’s Zaveri Bazar.

Deep insight into customer behaviour gave TBZ an early edge. In 1938, Bhimji Zaveri’s
grandson Gopaldas Zaveri shook up the market by offering a full-value gold buy-back scheme,
which is still in operation, says Zaveri. TBZ was also the first to promote lightweight jewellery
and offer certified solitaire diamonds, he says.

The company was listed on the stock exchange in May 2012, but the family is still at the helm.
“My business is an art and a science,” says Zaveri. He is keen to expand the store network to 57
from the current 23 across India by March 2015.
6/7
Bhima Jewellers
Dr B Govindan, CMD
TURNOVER: Rs 8,000 crore
Key Business Fact: Kerala’s highest tax-paying retailer
USP: Certified purity
In 1925, when K Bhima Bhattar started Kerala’s first jewellery showroom – a small shop in
Alappuzha – he hadn’t dreamt of creating a sprawling chain of two dozen stores across South
India. Instead, he focused on a key principle: sell pure gold. “This learning has helped me and
my brothers to run the business successfully and to be a part of the lives of countless people,”
says Dr B Govindan. The company was the first to implement hallmarking, bar coding and the
rate card system, and get an ISO certification among jewellers, he claims.

This focus leaves Bhima with little room to offer discounts. Its other challenge is appealing to
young customers.

Govindan’s three daughters and their spouses are helping the brand scale up. In the next five
years, the company hopes to add 25 stores across India and establish a stronger presence in West
Asia, he says.
CHAPTER -4
RESEARCH AND
METHODOLOGY
RESEARCH DEFINATION

Research comprises "creative and systematic work undertaken to increase the stock
of knowledge, including knowledge of humans, culture and society, and the use of this stock of
knowledge to devise new applications."[1] It is used to establish or confirm facts, reaffirm the
results of previous work, solve new or existing problems, support theorems, or develop
new theories. A research project may also be an expansion on past work in the field. Research
projects can be used to develop further knowledge on a topic, or in the example of a school
research project, they can be used to further a student's research prowess to prepare them for
future jobs or reports. To test the validity of instruments, procedures, or experiments, research
may replicate elements of prior projects or the project as a whole. The primary purposes of basic
research (as opposed to applied research) are documentation, discovery, interpretation, or
the research and development (R&D) of methods and systems for the advancement of human
knowledge. Approaches to research depend on epistemologies, which vary considerably both
within and between humanities and sciences. There are several forms of
research: scientific, humanities, artistic, economic, social, business, marketing, practitioner
research, life, technological, etc.
RESEARCH PROCESS

•COMPLETING •REACHING
THE RESEARCH CONCLUSIONS

SELECTING THE
FORMULATING
RESEARCH
RESEARCH
AREA

METHODS OF
LITERATURE
DATA
REVIEW
COLLECTION

•DATA •COLLECTING
ANALYSIS THE PRIMARY
DATA

1. Selecting the research area. You are expected to state that you have selected the research
area due to professional and personal interests in the area and this statement must be true. The
importance of this first stage in the research process is often underestimated by many students. If
you find research area and research problem that is genuinely interesting to you it is for sure that
the whole process of writing your dissertation will be much easier. Therefore, it is never too
early to start thinking about the research area for your dissertation.

2. Formulating research aim, objectives and research questions or developing hypotheses.

The choice between the formulation of research questions and the development of hypotheses
depends on your research approach as it is discussed further below in more details. Appropriate
research aims and objectives or hypotheses usually result from several attempts and revisions
and these need to be mentioned in Methodology chapter. It is critically important to get your
research questions or hypotheses confirmed by your supervisor before moving forward with the
work.
3. Conducting the literature review. Literature review is usually the longest stage in the
research process. Actually, the literature review starts even before the formulation of research
aims and objective; because you have to check if exactly the same research problem has been
addressed before. Nevertheless, the main part of the literature review is conducted after the
formulation of research aim and objectives. You have to use a wide range of secondary data
sources such as books, newspapers, magazines, journals, online articles etc.

4. Selecting methods of data collection. Data collection method(s) need to be selected on the
basis of critically analyzing advantages and disadvantages associated with several alternative
data collection methods. In studies involving primary data collection, in-depth discussions of
advantages and disadvantages of selected primary data collection method(s) need to be included
in methodology.

5. Collecting the primary data. Primary data collection needs to be preceded by a great level of
preparation and pilot data collection may be required in case of questionnaires. Primary data
collection is not a compulsory stage for all dissertations and you will skip this stage if you are
conducting a desk-based research.

6. Data analysis. Analysis of data plays an important role in the achievement of research aim
and objectives. Data analysis methods vary between secondary and primary studies, as well as,
between qualitative and quantitative studies.

7. Reaching conclusions. Conclusions relate to the level of achievement of research aims and
objectives. In this final part of your dissertation you will have to justify why you think that
research aims and objectives have been achieved. Conclusions also need to cover research
limitations and suggestions for future research.

8. Completing the research. Following all of the stages described above, and organizing
separate chapters into one file leads to the completion of the first draft. The first draft of your
dissertation needs to be prepared at least one month before the submission deadline. This is
because you will need to have sufficient amount of time to address feedback of your supervisor.

Research Design

DISCRIPTIVE STUDY-Descriptive research is defined as a research method that describes the

characteristics of the population or phenomenon that is being studied. This methodology focuses
more on the “what” of the research subject rather than the “why” of the research subject.

In other words, descriptive research primarily focuses on describing the nature of a demographic
segment, without focusing on “why” a certain phenomenon occurs. In other words, it “describes”
the subject of the research, without covering “why” it happens.

For example, an apparel brand that wants to understand the fashion purchasing trends among
New York buyers will conduct a demographic survey of this region, gather population data and
then conduct descriptive research on this demographic segment. The research will then uncover
details on “what is the purchasing pattern of New York buyers”, but not cover any investigative
details on “why” the patterns exits. Because for the apparel brand trying to break into this
market, understanding the nature of their market is the objective of the study.

DATA COLLECTION METHOD

SECONDARY DATA-Secondary data is research data that has previously been gathered and
can be accessed by researchers. The term contrasts with primary data, which is data collected
directly from its source.

SAMPLING TECHNIQUE

NON PROFIT SAMPLING-Sampling is the use of a subset of the population to represent the
whole population or to inform about (social) processes that are meaningful beyond the particular
cases, individuals or sites studied. Probability sampling, or random sampling, is a sampling
technique in which the probability of getting any particular sample may be calculated.

OJECTIVES OF STUDY

To make the present study scientific and systematic the researcher has framed the following
objectives:

1. To evaluate the pattern of gems and jewellery exports from India.

2. To identify different factors affecting gems and jewellery exports from India.

3. To evaluate the impact of World recession on the export performance of gems and jewellery.

4. To carry SWOT analysis of gems and jewellery exports from India.

5. To suggest action plan to improve gems and jewellery exports from India.

Limitations~

 The sample size is very less - sample size and duration of the study is increased the
results may be generalized to larger population.

 There was lack of time and resources that prevented from carrying out an in
depth study.

 The responses were not satisfactory.

 The findings of the survey are based on the subjective opinion of the
respondent and no way of assessing truth of the statements is considered in the
 study.

 As it is a perpetual research study the responses may be biased & would differ
from person to person.

 Lastly, some amount of error existing in the data filling process because of the
following reasons:

• Influence of others,

• Time barrier,

• Misunderstanding of the concept.

• Hurried filling of the questionnaire.

CHAPTER 5
REVIEW
LITERATURE
Present state of knowledge

Review of literature play an important role in finding the gap between various aspects of the
problem taken for study. With the point of view the researcher surveyed 46 studies in this area
but only 20 studies are presented for reference in Synopsis.

1. India Brand and Equity Foundation (IBEF), May 2013, in the paper titled “Gems and
Jewellery Industry in India” have examined that India has done wonders with respect to
polishing and cut diamonds have become world class. Now our country and China are emerging
as the leaders in the global jewellery industry in terms of consumption besides production and
trade jointly would account for over 30% of global diamond market in 2015.

2. M. Soundariya P Reetha, Coimbatore, March 12, 2013 in the report entitled “Indian gems and
jewellery industry export-oriented”, in the paper THE HINDU has basically emphasized for
those aspiring to get into gem-studded jewellery business, those already in the industry and even
the buyers, learning more about diamonds other precious and semi-precious stones, the product
made of these, and the designs will be popular now. This will be possible with the possible by
the distance education courses planned by the Gemmological Instituted of India, established by
the Gems and Jewellery Export Promotion Council (GJEPC).

3. Mr Purnashree Das and Saurabhi Borthakur in their article entitle “Exports of Gems and
Jewellery : The Indian Perspective” has commented that India has established itself as the
world’s largest manufacturing sector for cut and polished diamonds, contributing nearly 60% of
the world’s supply in terms of value and 80% in terms of volume. A remarkable growth has been
registered over the last 4 decades. The main objectives of this study were – (a). To illustrate the
export figures of gems and jewellery industry from the period 2000–01 to 2011–2012 and (b) To
illustrate the major export destination of gems and jewellery.

4. Vipul Shah, 2012, in his address to Indo-Russian Jewellery Summit has stated that the Gems
and Jewellery Export Promotion Council has over the years held successful meets with regions
such as China, Europe, US, Russia/CIS with the aim to bring together leading players of these
regions with their Indian counterparts as to create wider business opportunities and leading to
substantial growth of trade with these countries. The Indian Gems and Jewellery industry has
been witnessing a growth of 10-15% per year .The industry has been witnessing a growth in the
volume of exports from US$25.4billion in the year 2009 to US$46.36 billion in 2011 thus
indicating a net increase of an enormous 82.5%. Exports to Russia for 2011 increased from US$
3.13 million in 2009 to US$ 8.2million in 2011 indicating net increase of 162%.This increase can
largely be attributed to market recovery post the 2008-2009 worldwide recession, besides various
combative measures undertaken by the Indian Government as well as the council to boost foreign
trade.

5. PR Newswire in the article entitled “Renaissance Jewellery Receives Prestigious GJEPC

Award for the 4th time” has concluded that Renaissance Jewellery New York is the US division
of Renaissance Jewellery Ltd. Based in India and is publicly traded on the Indian Stock
Exchange. It has been in the in the business of manufacturing and sale of studded gold, platinum
and silver jewellery for over a decade. The company has established strong credentials in
international markets by maintaining impeccable quality standards, offering innovative design
and has a growing customer base to US, Europe and the Far East.

6. M.S.V Shridevi in her paper titled “Export Performance of Gems and Jewellery in India-An
Overview” has discussed the industry for 3 or 4 decades mainly with 3 objectives: To study
about the 1.Export Performance 2.The Growth Rate and 3.The future Export Performance of
Gems and Jewellery Industry in India for the year 2006-2011and future for the year 2011- 2016
respectively. According to the author the growth rate has completed 25.57% in the year 2010-
11.She has suggested that Government must liberalize the custom duties and procedures,
encourage the domestic exports so as to help exports in International market and the exporter of
gems and jewellery must know the procedure to be followed in the export.

7. Chanchala Jain, April-June, 2012 in the paper titled “International Journal of Engineering
Sciences and Management A trend analysis of Export performance of Gems and Jewellery
Industry in India” has discussed that this industry is an important emerging sector of Indian
Economy. In this paper writer has used trend analysis technique collected through secondary data
to give the performance of this industry for the years 2006-2011.

8. Economic Times, 2011 an article entitled “Gems and Jewellery rise 4% in April” has
commented that India`s gems and jewellery exports rose marginally by 4.18% to 14,268 crore
during April 2011. Exports of cut and polished diamonds have increased by 5%, while silver
jewellery exports rose by around 34% during this period. The provisional export of gold
medallions the same month stood at 4,543.31 crore, which shows decline of 0.72% over the
comparative figure of 4,576.31 crore April 2010. “We have witnessed good business after
recession and we hope that it will continue. We expect around 20% increases in exports this
year,”

9. Prashant Rampuria, January14, 2010, in a study named ‘Competitive analysis of Indian Gems
and Jewellery sector in US Market.’ has basically emphasized to study structure , analyze India`s
export of Gems and Jewellery sector for latest five years and to analyze the market share of India
in US Market and to study Government Policy regarding export promotion.

10. M2 Press WIRE, 30 May 2010 in the article entitled, “Mass appeal and rising income to
boost the Gems and Jewellery market in India.” In addition to this Bharatbook added a new
report on “Gems and Jewellery Market in India2010” describing as consumer goods that gives
import and export structure. In spite of market being highly dominated by unorganised groups it
helps in prospering economy and operating income levels. By providing information regarding
prime destinations for this industry and their involvement in the value chain the section indicates
the total market size, the growth, segmentation and import and export structure of jewellery
industry in India.

11. Kiran V 111in her paper titled, “SEZ`s in Gems and Jewellery” has discussed about the
importance of Special Economic Zones (SEZ`s) in this sector. Besides becoming to a major
leading foreign exchange earner the industries export turnover has recorded to Rs 91617.53 crore
during 2008-09.By the formation of SEZ`s the contribution has increased 70% of the worlds
Gems in terms of quantity and 45% in terms of value.

12. Dun & Bradstreet in the paper entitled “Indian Gems and Jewellery sector” have discussed
that the Gems and Jewellery sector is a major foreign exchange earner. This article focuses on
the various polices and measures that were taken by the government for the gems and jewellery
sector. The measures taken by the government in the union budget 2009-10 are as follows; 1.
Increase in customs, 2. Minor reduction in central excise duty, 3.Fiscal Stimulus Measures
(December 2008).
13. Research and Markets, 2011 in the paper entitled “Indian Gems and Jewellery MarketFuture
Prospects to2011” have discussed that India possesses the world`s most competitive gems and
jewellery market due to its low cost of production and availability of skilled labour. Along with
this strong government support in form of incentives and establishments of Special Economic
Zones (SEZ`s) has been major drivers for the Indian gems and Jewellery market as the future
prospect 2011.

14. Kaushik, Manu, 17th May 2009 in the article entitled “Gems not desired” has basically
focused on the business performance of the gems and jewellery industry in India. The export
earnings of the sector declined by 18.88 % according to the gems and Jewellery export
promotion council in the second half of 2009. The cut and polish diamond segment is decreased
by 18.24 % in 2007-08.

15. Das Keshab, (2007) in the paper titled “Informality and Double standards: The Globalised
Indian Gems and Jewellery Industry.” has summarized that participation in the global production
network (GPNs) because of the efficient strategy has lead the Indian gems and jewellery industry
is deeply linked in global market as it not only dominates the diamond processing trade but also
major domestic consumer of gold and silver. Besides employing 1.5 million people it acts as a
major foreign exchange earner. The informal nature of the production and labour process, thus
cares, least of labour, environmental and social standards.[

16. Keynoor Purani, 1999-2000, in the paper named, “Gujarat Model of Entrepreneurial
Innovation: A study of Surat Diamond Industry” has discussed about the characteristics of Gems
and Jewellery industry, innovations done by entrepreneurs in the diamond processing and
describing the pioneering innovating behavior basically in Gujarat.

17.Tech Sci Research, February 2013 in the article entitled “Global Gems and Jewellery Market
forecast and opportunities, 2018” has basically focused on US market which currently accounts
for the largest jewelry market in the world dominated by diamond jewellery segment.
Regionally, Asia Pacific hold the world`s largest market in China and India. Major challenges
faced in this sector of being highly unorganized market and slowing down because of global
economic recession.
18. DUBLIN-(Business Wire) Research and Markets has announced the addition of the “Indian
Gems &Jewellery Industry, Q3 2011” report offering that India is the world’s largest cut &
polished diamond exporter. The diamonds are basically exported to the markets like the UAE,
USA, Hong Kong and the European countries and future growth is likely to be driven from the
emerging markets like South America, Far-East, Eastern Europe and China. CARE Research`s
report on Gems& Jewellery Industry gives valuable insight on the industry, based on the global
and domestic consumption, the demand and supply, the export market, pricing analysis and the
value chain.

19. Dr. Sakda Tanitkul, in the research paper titled, “The study of Problems and Trends of Non
Tariff Barriers Affecting the Gem and Jewellery Industry” has basically worked with the motive
of collecting information concerning import regulations and measures of non-tariff barriers in
trading countries which are the USA, the EU and Japan, including all countries which are new
and potential markets for Thailand such as China, Saudi Arabia, Bahrain and the United Arab
Emirates confining to manufacturing and exports. Besides this to analyze and solve the problems
of non-tariff barriers in the major countries and new and potential markets.

20. News Agency, 2004 Iran in the paper titled “India hikes gems, jewellery export target to US”
has basically emphasized on India`s market share in the jewellery sector was only about US $ 2.5
billion, which is just 4% of the world`s market in 2004 and there is scope for increasing exports
in this segment and for the next 3 years this export should rise to 20 billion US $. This sector
would be a thrust area in the proposed trade policy. According to the Indian Commerce minister
Kamal Nath while inaugurating the India International Jewellery show 2004 Friday.
CHAPTER-6

ANALYSIS AND
INTREPRETATION
 160

140

120

100
Jewellery
80
Column2

60 Column1

40

20

0
2013 2014 2015 2016 2017

Manufacturing from 2013-17

1. IN 2013 DEMAND WAS 50 KG OF GOLD AND THE COST OCCURRED TO RS.

16,00,000.

2. IN NEXT YEAR 2014 THE DEMAND RAISED BY 50 KG OF GOLD AND THE COST
OCCURRED TO RS.32,00,000.

3. IN 2015 THE DEMAND AGAIN RAISED BY 50 KG OF GOLD AND THE COST

OCCURED TO RS.48,00,000.

4. IN 2016 THE DEMAND FALL BY 50 KG OF GOLD AND COST DROPPED TO

RS.32,00,000.

5. IN FINAL YEAR 2017 DUE TO DEMONITISATION THE DEMAND OF GOLD

HEAVILY DECREASED TO 40 KG AND COST DROPPED TO RS.12,80,000
 160

140

120

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Jewellery
80
Column2

60 Column1

40

20

0
2013 2014 2015 2016 2017

Export from 2013-17

1.IN 201
SWOT ANALYSIS OF INDIAN GEMS & JEWELLERYINDUSTRY:
Strengths:
⇒
About one million craftsmen are associated with this industry. Their skills can
beutilized for designing and making modern Jewellery
⇒
Availability of abundance of cheap and skilled labor in India.
⇒
Presence of excellent marketing network spread across the world.
⇒
Supportive government industrial/ EXIM policy.
Weaknesses:
⇒
Small firms lacking technological/ export information expertise.
⇒
Low productivity compared to labor in china, Thailand and Sri Lanka.
⇒
As the major raw material requirements need to be imported, companies normallystock huge
quantities of inventory resulting high inventory carrying costs.
Opportunities:
⇒
New markets in Europe & Latin America
⇒
Growing demand in South Asian & Far East countries.
⇒
Rupee value depreciating resulting in a windfall increase in the profitability.
⇒
Industry moving from a phase of consolidation
Threats:
⇒
China, Sri Lanka and Thailand's entry in small diamond segment35

⇒
Infrastructure bottlenecks, absence of latest technology
⇒
Unusual increase in the prices of gold and rough dia