Because of increased demand, Imitation jewellery manufacturers in India might reach INR 65,620 crore in revenue by the end of 2022. According to the country's imitation jewellery producers, the market for counterfeit jewellery in India is predicted to increase at a CAGR of around 23.5 percent between 2017 and 2022. The Indian jewellery industry has grown tremendously throughout the years. The Indian fashion jewellery business has emerged as one of the country's fastest expanding commercial industries.
Growth of the Indian imitation Jewellery Market over the years
Top imitation Jewellery Manufacturers in India
1. Mangalmani Jewellers
For many years, Mangalmani Jewellers has been one of India's major counterfeit jewellery makers. In 2006, it embarked on a path to become the most important player in the Indian jewellery industry. Their exceptional team of designers, artisans, and specialists goes above and beyond to make the most enticing designer imitation jewellery. It has a huge collection of lovely duplicate jewellery for every occasion.
They have been providing high-quality services to clients since 2006, combining cutting-edge technology with artisanship to meet their customers' expectations. The company is well-known for producing, selling, and exporting counterfeit jewellery, Asian jewellery, ethnic jewellery, and other things. The following are some of the organisation's strengths:
- Only high-quality export jewellery that meets all international criteria is made.
- Maintain the highest possible level of quality while keeping manufacturing costs as low as possible.
- In response to consumer demand, create personalised jewellery.
- An in-house jewellery design team helps with the creation of one-of-a-kind creations.
- A strong customer service team with competent representatives.
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2. Manek Ratna
Manek Ratna, a well-known Indian counterfeit jewellery business, was created in 2010. The firm specialises in traditional Indian jewellery that is created to appear to be made of real gold or diamonds. From Mumbai's Malad and Zaveri Bazaar, they supply imitation jewellery to all Indian states and towns.
It is a well-managed firm that specialises in numerous types of jewellery. Clients adore its fake jewellery because it has a high-style appeal. Furthermore, their products are in high demand because of their superb finishing, fresh trends, unique designs, long-lasting lustre, knotted patterns, and refinement.
They sell a variety of phoney jewellery. One of the most specialised types is black polished silver earrings. Earrings by Manek Ratna vary in price from INR 100 to INR 1,000.
The annual income of the company ranges from INR 50 lakhs to INR 1 crore. Its products are sold in Saudi Arabia, New Zealand, the United Kingdom, Mauritius, and the United States. Exports account for around 20% of the company's total income.
USPs of the organisation:-
- Excellent financial outcomes and overall management quality
- A diverse range of items
- Excellent manufacturing capacity
- There are options for customised solutions.
- The completed product was subjected to extensive testing.
3. EON Exports
EON Exports established itself as one of the major imitation jewellery manufacturers in India. The company's fundamental pillars have been innovation, productivity, and continuous expansion since its foundation. They place a premium on service quality and have implemented a customer-centric approach that influences every department inside the organisation. The organisation prioritises high-quality products, high-quality packaging, fair prices, and on-time delivery.
Its dedicated crew ensures that the end product satisfies the client's expectations. The organisation performs a two-way test. When dealing with them, accuracy and quality go hand in hand. EON Exports' professional product testing workforce works in groups to regularly examine products at their manufacturing sites. To ensure high quality, they conduct extensive testing and packing at well-equipped shipping facilities. Customers appreciate them and continue to return for more.
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4. Lotus Jewellery
This Jain organisation has been a well-known player in the jewellery market for four years before independence. The process does not end with mass production. Beam and CNC technologies are used in the manufacture of 22 and 18-carat jewellery.
Lotus uses cutting-edge technology to develop the greatest items, the most current trends, and the most comprehensive jewel collection. With the help of highly qualified designers, skilful artisans, an experienced R&D team, and cutting-edge technology, it creates the most gorgeous creations! Lotus is presently one of India's leading producers of counterfeit jewellery.
Mr Saubhagya Chandbhai Talakchandbhai Vasa was appointed Chief Engineer of the Gondal state in 1935, but he swiftly advanced his career by becoming a business partner. In 1943, he established the 'Jain Enamel Works' in Rajkot. In 1950, Mr Hasmukh Lalbhai Saubhagya Chandbhai Vasa joined the family business. He had a key role in spreading it throughout India. In 1960, the father-son partnership decided to begin producing diamonds in-house. Hasmukhlalbhai works as a consultant for Lotus Jewellery Creation and its subsidiaries. Mr Nalinbhai Hasmukh Lalbhai Vasa joined his family business in 1975 after receiving a B.Com and a Taxation diploma from Saurashtra University. He established Jain Bright Steel Traders in 1989. Finally, in 1999, he founded Lotus Jewellery Creation, which quickly rose to prominence in the jewellery market.
Soon after, he began expanding his company throughout India by launching the Amor brand and other lines of affordable Indo-Italian jewellery. Furthermore, he is currently in charge of the jewellery company and is involved in R&D and product testing during the jewellery production process. After acquiring MBA degrees from Gujarat University and the University of Scranton, Mr Vineet Kumar Nalinbhai Vasa joined his family company in 2010. He effectively expanded the corporation to an international level by exporting diamonds to a variety of nations.
He is presently in charge of the firm's R&D, Promotion, and Exporting departments, where he utilises cutting-edge techniques throughout all Indo-Italian gem lines released under his supervision.
5. Kanhai Jewels
Kanhai Jewels, founded in 2001, is one of the imitation jewellery manufacturers in India that manufactures Indian and modern Western jewellery, as well as traditional Indian jewellery. It has developed to become one of India's largest counterfeit jewellery makers. Among the high-quality items provided at the organisation are Antique Jewellery, Kundan Jewellery, Indo-western Jewellery, Designer Jewellery, and Western Jewellery.
The variety of products offered by the organisation are:
The organisation believes in providing quality products, and therefore, abides by the following parameters:
- The units are developed and built in-house.
- Customer satisfaction is assured.
- combining antique and modern styles
- Consistency in quality assurance
- Designs that stand out and are appealing
- Consignments are processed as soon as they arrive.
- The delivery date has been determined.
The organisation’s mission is to create imitation jewellery that makes a statement for every lady.
Imitation jewellery manufacturers in India have been witnessing a great demand from the Indian market, owing to the country's economic growth and increasing purchasing power of Indian consumers. Furthermore, the high import duty on gold has led to an increased demand for imitation jewellery manufacturers in the country.
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Q. Which place in India is well-known for its imitation jewellery?
Ans. Sawantwadi, Goa and Hubli and Dharmasthala in the Konkan region are well-known for imitation jewellery.
Q. Which state is well-known for its imitation jewellery?
Ans. Rajasthan is well-known for its imitation jewellery.
Q. Is the imitation jewellery industry lucrative in India?
Ans. It is one of the largest businesses in the world and contributes more than 5% to the GDP.
Q. What is the profit margin in imitation jewellery?
Ans. One can earn around 15%-20% in the imitation jewellery business.
Q. What is the HSN code for imitation jewellery?
Ans. 7117 is the HSN code for imitation jewellery.
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