IMPACT OF GLOBALIZATION ON GOLD ORNAMENT MARKET IN INDIA: AN OVERVIEW

IMPACT OF GLOBALIZATION ON GOLD ORNAMENT MARKET IN INDIA: AN OVERVIEW

Registration ID: IJNRD_184832

Published ID: IJNRD2212324

DOI: Click Here to Get

DR VIJAY KUMAR

phenomenal growth in gold ornament exports; diamantaires; World Gold Council (WGC)

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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"IMPACT OF GLOBALIZATION ON GOLD ORNAMENT MARKET IN INDIA: AN OVERVIEW", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.7, Issue 12, page no.d224-d227, December-2022, Available :https://ijnrd.org/papers/IJNRD2212324.pdf

Volume 7 Issue 12, December-2022

Pages : d224-d227

Paper Reg. ID: IJNRD_184832

Published Paper Id: IJNRD2212324

Downloads: 000121125

Research Area: Commerce

Country: MADHUBANI, BIHAR, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2212324.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2212324

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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