Indian Gold Jewellery Industry: Culture and Consumption

India has a long-standing cultural and societal affinity with gold and gold jewelry, with the largest unorganized jewelry industry in terms of manufacturing and consumption units. This book explores the roles of sunars/ swarnakars, consumers, trade, and policies that bring a change in the gold jewelry industry in India and its position in the global market scenario. It provides unique insights into the social and economic experience of the unorganized gold jewelry sector and the role of consumers in production.

Format: Hardback
Length: 102 pages
Publication date: 16 April 2024
Publisher: Taylor & Francis Ltd

India has a deep-rooted cultural and societal connection with gold and gold jewelry, symbolizing sacredness, purity, and immortality that intertwine religious beliefs and culture. The accumulation of gold holds significance in both material and non-material cultures, where the perceptions, attitudes, and experiences of those involved in production and consumption form a complex relationship. The idea for this book originated from research that revealed India boasts the largest unorganized jewelry industry, both in terms of manufacturing and consumption units. Jewellery fabrication in India has been a family tradition passed down through generations, with skilled goldsmiths known as sunnar and swarnakars acquiring their craft from experienced goldsmiths or craftsmen-cum-petty traders. The intricate interplay of castes, religion, culture, economy, and class intertwines to sustain the gold jewelry industry. Surprisingly, there is a lack of comprehensive literature that delves into understanding the structural and functional aspects of this industry in India.

This book aims to fill that gap by exploring the roles of sunars/ swarnakars, consumers, trade, and policies that shape the gold jewelry industry in India and its position in the global market landscape. By focusing on the lives of these individuals, the book offers unique insights into the social and economic experiences of the unorganized gold jewelry sector and the consumer's role in production.

The book begins by examining the historical background and cultural significance of gold in India. It explores how gold has been used as a currency, a symbol of wealth, and a marker of social status throughout Indian history. The chapter also highlights the role of gold jewelry in Indian weddings, festivals, and rituals, emphasizing its importance as a cultural asset.

Next, the book delves into the lives of sunars/ swarnakars and their role in the gold jewelry industry. It explores the training and skills required to become a goldsmith, the challenges they face, and the economic opportunities they create. The chapter also sheds light on the social and cultural dynamics within the goldsmith community, including their relationships with customers, suppliers, and other stakeholders.

Consumers are another critical aspect of the gold jewelry industry. The book examines the consumer's perspective on gold jewelry, including their preferences, purchasing behavior, and the role of advertising and marketing in shaping their choices. It also explores the consumer's relationship with the gold jewelry industry, including their expectations, experiences, and perceptions of quality and value.

Trade plays a vital role in the gold jewelry industry, connecting producers and consumers. The book explores the various trade channels, including wholesalers, retailers, and exporters, and the challenges they face in the global market. It also examines the role of government policies and regulations in shaping the trade landscape and the impact of trade on the gold jewelry industry.

Finally, the book discusses the policies that have impacted the gold jewelry industry in India and its position in the global market. It explores the role of government initiatives, such as the Gold Monetization Scheme, in promoting the use of gold as a savings instrument. It also examines the impact of international trade agreements, such as the World Trade Organization (WTO), on the gold jewelry industry and India's position in the global market.

In conclusion, this book provides a comprehensive exploration of the gold jewelry industry in India, shedding light on its historical, cultural, social, economic, and trade aspects. By focusing on the lives of sunars/ swarnakars, consumers, trade, and policies, the book offers unique insights into the social and economic experiences of the unorganized gold jewelry sector and the consumer's role in production. The book is a valuable resource for scholars, researchers, policymakers, and industry professionals interested in understanding the dynamics of the gold jewelry industry in India and its place in the global market.

Dimension: 216 x 138 (mm)
ISBN-13: 9781032717937