“To Take Advantage Of The Us-china Trade War, Traders Must Be Allowed To Export At Better Rates”

As spends on jewellery decline, the players in the market will have to diversify their product portfolio

- Tarang Arora

When I got into the jewellery business in 2002, I entered from the London perspective (studied there). It was and still is so much easier to do business there. When you come to India, you know how complex systems are here. Nevertheless, the big business opportunity is here.

Over the years, as consumers evolve, as working women, and not their mothers, buy jewellery, the industry will also have to prepare to service the new-age, digital-savvy consumers. Like we, at Amrapali Jaipur, realised during the economic slump of 2008 that being rigid about one segment won’t work.

The new competitors

I’s rather simple, yet complicated. Jewellers are not really each other’s competition. The new competitors of the jewellery industry are travel and luxury automobiles. The millennials want to invest in experiences and not jewellery. The percentage of spending on jewellery has gone down. We jewellers will have to be very innovative and creative. Adjustable pieces or a big piece that can be broken down into two or three, and jewellery that can be worn to work, evening dinner or even at a puja, will be preferred.