Rajasthan forte in jewellery is now being challenged by low-cost imitation ornaments from China. Nearly 40% of imitationjewellery consumed in the state is imported from the China due to its low cost.
According to the data from the Union ministry of commerce, India imported imitation jewellery worth Rs 130 crore in 2011-12. Out of the total, more than 50 crore ornaments were consumed only in Rajasthan. China has captured almost 25% of Rajasthan’s market and many jewelers prefer to import than manufacturing.
“The trend for such ornaments from China is catching up fast throughout India and in Rajasthan in particular as the state is a major hub for jems and jewellery. Traders prefer to import them from China as they are far cheaper than manufacturing here. Also most of the manufacturing units in Rajasthan is unorganized,” said Kunal Soni, a Jaipur-based jeweller.
According to members of the Imitation Jewellery Manufacturers Association (IJMA), the figures are much more than revealed by the Union ministry. The actual level of imports is estimated to be 10 times higher.
“Imports are on higher side for the state because most of the manufacturers import the finished imitation jewellery from China. In marriages, most of the brides are now opting for imitation jewellery and so do the working women,” Soni added.
The spurt in gold and silver prices has been the biggest reason attributed for increased popularity of gems and stones. Also, colourful designer and chunky Rajasthani ornaments continue to find favour among the buyers.
“Everybody wants to wear jewellery these days. But prices of not only gold but silver have soared. So there has been a shift towards imitation jewellery. The market for it could be even bigger if government relaxes the excise duty on it,” said Rajiv Jain, chairman of Gems and Jewellery Export Promotion Council.
“More and more young working women are looking for jewellery which is modern and easy-to-wear and can be teamed up with western wear. Also the trend of wearing heavy jewellery at weddings is undergoing a change and that segment has switched to artificial jewellery, especially gold-plated jewellery,” said Ashish Meghraj, another Jaipur-based jeweller.
“It is also economical and, therefore, people of all classes are showing an interest and considering it a smart buy,” he added.
src: TOI