India is poised to become the global hub for jewellery manufacturing. What according to you are the important factors that are responsible for the growth of the Indian jewellery sector?
Indians have always been in awe for beautiful jewellery
and most of the diamond studded jewellery have their
origins from India. Art and beauty goes hand in hand and
that is what brought jewellery creation in the olden times.
But systematically we went down in that innovation due
to lack of technology during the colonial period.
Thus major factors that will bring Indian jewellery to the
forefront of global manufacturing platform will be the
ability to utilize technology and innovate. The economy
will be booming and India is poised to see high growth
rate for atleast 15 years and that will give huge impetus to
Indian manufacturer to experiment with newer ideas and
products.
Technology and Machinery sector in India is evolving
and competing with International tech manufacturers.
Your opinion on the growth of indigenous manufactured
tech products and the 'make in India' initiative of the government?
Government of India's 'Make in India' initiative is a
blessing in disguise for both technology provider as well
as jewellery manufacturer in India. This will help in a big
way to overcome the deficiency of technology adoption
by the market. We at Sahajanand Laser Technology Ltd.
(SLTL) have always been a pioneer in bringing state of
the art technology to Indian market.
What are the challenges faced by Indian tech and
machine tool manufacturers in comparison with
International distributors and what are the steps to
overcome the same?
Adoption of technology has not been seen in the Indian
manufacturing industry mainly due to low purchasing
power capacity of the domestic market in comparison to
the international market. Also domestic market was more
prone to Gold buying instead of beautiful artisan created
jewellery all these years, which is about to change with
higher GDP growth.
How important is service efciency levels when it comes
to distributing and selling state of the art tech and
machine tools in India? Are the Indian manufacturers
geared for the same?
High value capital goods demands high level of after sales
service and efficiency. The manufacturers do not have
liquidity / capital to invest into extra capacity when it
comes to capital goods and thus they work with a limited
quantity of state-of- the art equipments in their shopfloor.
This means, technically they cannot afford any
downtime. This is both an opportunity as well as crisis for
the technology providers in the industry. We provide
round-the-clock servicing to our customers and as we sell
our equipments to over 30 countries worldwide, our
service department do not stop working. The Indian
manufacturer knows the international standards and thus
will demand the same from his vendor.
What is your advice to the Indian Manufacturers to
expand and grow among the Indian gem and jewellery
sector?
We have to move around the world to understand what's happening in the market globally. Keep updating your knowledge and
technology to bring the best in Class product and service to our customer.
The world as a whole is getting to become one big global village with
buyers having lot more options and sellers in deep competition. Today is a
buyer's market and will be the same for a long time to come. Thus Indian
manufacturers need to understand this as soon as possible and update
technology and systems from time to time.