The crucial year ahead: 2019
Right now we are ready to welcome a new year, 2019! Over the years we have moved enough in the direction of EoDB (ease of doing business), adopted more transparency and gazing over MSMEs instead of saying bigger is better! In the pipeline what is being processing is Hallmarking and gold policy India, to way out & ease rough diamond trading from SNZ by mining players.
Equally we are focussing enough in the field of fourth revolution & up to automation & AI (Artificial intelligence)! Right now direction of the ongoing government is right for a long term as well as for the short term. The government is firm to foray the fourth industrial revolution! Onus is on us to add swiftly shifting tech-n-tools be that digitisation, automation & AI.
Being a young India, rapidly buyer class is being added with their own attitude & style of buying with their own taste-n-preferences! Millennium babies & up to millennials & now a talk of GenZ has variations! All those multitasking buyers are relying much on digital influences! They do prefer retro designs-n-style amid their ongoing patterns! The new class of buyer is demanding transparency, ethical sourcing, and environmental alerts with ongoing trends!
They do love diamond, diamond jewellery right from daily ware & up to bridal set. The ongoing buyer class do prefer gem-n-jewellery yet they enjoy numbers of options at hand! Now it is up to the industry & trade to catch them! The 2019 would remain crucial to shape up fate-n-future ahead!
In the New Year resolutions once again we have to ink down our potential-nimpending wishes including to be the global gem-n-jewellery trading hub & global designing hub from the industry point of view! To attain both of the stature we, India is keeping keen eye on both of the trends, 1: global & 2: domestic.
Bain & Co has focused on three trends in their recently published report on, The Global Diamond Industry 2018.
Three trends have the highest potential to affect the diamond industry in the near term’ says the report. Those three trends are, 1: advancements in digital technologies, 2: the development of lab-grown diamonds and 3: generational shifts in consumer preferences.
With the mix, the industry & trade has to open up their 2019! In 2019, US is likely to fall in the line of recession, China has lot more reasons to go slow with economic performance! India remains promising for gem-n-jewellery despite general election 2019!
Wishing you Happy New year!