De Beers India, MD positive on diamond business outlook for South India

By Sachin Jain

New Delhi, Nov 4 (SocialNews.XYZ) In South India, jewellery is deeply rooted in every aspect of life events including traditional, religious, personal and professional accomplishments. Moreover, through the last year, people have realized the importance of fewer but better things and are drawn towards making quality purchases that are real, valuable, long-lasting; those that define a deep meaning and commitment in their lives.

Apart from being over 3 billion years old or as they say, older than dinosaurs, diamonds, have a sense of purpose and meaning. While they are formed deep within the earth's surface, they are pure gifts of Mother nature and hold a value of genuineness and natural beauty. Diamonds also have a unique quality to always remind the wearer of what they've achieved and how far they've come whether in their professional or their personal lives with their loved ones and the trend is only upward from here.

EVOLVING JEWELLERY TRENDS IN SOUTH INDIAN HERITAGE

South Indian jewellery consumption, while typically traditional, now increasingly reflects minimalistic, contemporary and distinctive trends, which sets it apart from jewellery styles found in other parts of the country. A mix of culture, heritage, class and modernity is driving most South Indians to buy contemporary jewellery crafted with natural, genuine diamonds. While India is one of the top three consumers of diamond jewellery, the South Indian market in particular with its strong emphasis on tradition and culture yet cosmopolitan outlook, is gaining an edge over other markets in the country. Generally, while buyers in the northern region of the country prefer larger diamonds, southerners opt for quality over size.

EVERYDAY WEAR JEWELLERY MAKES A MARK IN THE SOUTH

Apart from quality, buying everyday wear jewellery finds an echo in the southern metros. Classic diamond jewellery in contemporary designs is the most popular choice for women today. By the nature of the brilliant sparkle of the gem, diamonds are versatile and can be worn with any attire. Indian to western, day to night, diamonds shine on any outfit. Even the modern-day bride, looks at purchasing classic solitaire earrings or a simple pendant as her bridal trousseau along with her wedding jewellery, to remind her of her special day.

FUTURE DRIVERS OF THE DIAMOND MARKET IN SOUTH INDIA

Unlike earlier, when diamonds were purchased to mark a milestone like an engagement, marriage or a birth of a new baby, now it can be about anything - graduating high school or college, the first paycheque, the first appearance of any significant event, the opening of a boutique or simply winning a game of anything. Increasing personal disposable income, growing middle-class population, rapid urbanization, improving the standard of living and consumer preference towards investment in gems and jewellery are some of the key factors driving the market in South India. Additionally, the southern region prides itself on several leading gems and jewellery players with multiple exclusive showrooms and multi-brand retail outlets, all of which are boosting the demand for different types of jewellery.

As more South Indians are becoming ecologically aware, they are opting for trusted brands that reflect genuineness and responsibly sourced, genuine, natural diamonds. This emphasis has ushered in a new epoch of purchase in South India that will only assure a strong future for the diamond industry. The business outlook for diamond jewellery looks very positive with almost 50 percent of the national jewellery sales coming from the south. This will only increase with time.

(Sachin Jain, Managing Director, De Beers India)

Source: IANS