Jewellery is a market that has grown spectacularly in the last decade. The industry is going through a boom period, driven by the expansion of Western economies and the diversification of consumers. This is apparent from the soaring gold price today Bankura or Mathura. You can visit Khatabook to learn the factors that affect gold prices.
Jewellery is a very versatile product, it can be used for multiple purposes. In recent years, the jewellery business has been transformed from a traditional retail business to an online business.
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- Diamond Processing Unit
Gujarat holds the No 1 position in diamond processing and polishing in India. It is home to major diamond cutting and polishing centres like Surat, Ahmedabad, and Mumbai. The business of diamond processing involves a wide range of activities such as cutting and polishing rough diamonds.
Diamond Business is a very lucrative business for those who want to start their own business. Diamonds are always in demand due to their high value. The industry has also seen tremendous growth over the years. Almost all branded jewellery stores offer diamond jewellery, from engagement rings to necklaces and earrings at various price points. A person can start this business with a small investment by creating a store or can start it online by selling on e-commerce sites like Amazon, Flipkart etc. If you have knowledge of diamonds and want to start your own business, this is the right time to set up a diamond processing unit. You need to have an initial investment of approximately Rs 20 lakhs to set up such a unit. You can earn handsome profits by supplying diamonds to jewellers and other manufacturing units in India and abroad.
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- Silver Jewellery Making
Silver jewellery making is one of the lucrative jewellery business ideas to start with moderate capital investment. Silver jewellery is widely accepted by people all over the world due to its attractive look and lower cost compared to gold jewellery items.
- Gemstone Jewellery Making
Gemstone jewellery is another popular fashion jewellery item made of various precious or semi-precious stones such as diamond, pearl, ruby, emerald and others. Any individual can start this business with moderate capital investment.
- Pearl Farming
Pearl farming is one of the most profitable livestock farming businesses on the globe. Pearls are used for making various types of gems or jewellery such as earrings, necklaces and other fashionable accessories. The demand for pearls is increasing worldwide due to the increased popularity of pearl jewelry among young people.
- Gold Jewellery Manufacturing & Wholesaling
One can set up their own Gold Jewellery manufacturing unit by getting into a franchise of reputed gold brands or they can sell these products through their own retail outlet or website. This business is profitable only when you have the good market knowledge and connections with big jewellery shop owners in your locality as they will be your main customers. For wholesaling gold jewellery, you must know the current gold rate so that you can plan accordingly. However, in this business you need to be constantly aware of the latest gold rate in Bijapur or for the place where you operate as this will help you in planning your capital allocation more efficiently.
