Saturday, July 22, 2006

Overview of Jewellery Industry

Jewellery carries a significant value worldwide. Pakistan can boast of a heritage that of jewellery manufacturing that extends back prior to its creation. Its craftsmen have spent timeless energy and creativity in the invention of artistic ornaments. These jewellery pieces over the centuries have satisfied universal longing for embellishment.

Pakistan is a part of sub-continent region where jewellery has been worn and traded through out the centuries. Marriage and religion are inseparable in our culture and provide major motivation for use of traditional ornaments. By custom every bride is provided with dowry whose composition and value depends upon economic circumstances.

Pakistani home market for jewellery is very strong and jewellery features high in domestic budgets. Due to the existing substantial domestic market the industry has a large pool of experienced workers and a substantial level of hand skills. This industry is a full-fledged large-scale organized industry. Pakistan’s jewellery industry is composed of over 25,000 retailers/manufacturing concerns and has a workforce of over 0.5 million skilled/semi-skilled craftsmen. The jewellery trade in Pakistan is involves a large turnover of jewellery worth million of dollars on annual basis. In 2002 alone Pakistan imported 120 tons of gold bullion to fulfill the industry demand. (Source: World Gold Council)