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INDIAN MANUFACTURERS: ENHANCING VALUE

With an emphasis on design and advanced technology to improve quality and efficiency, Indian manufacturers are adding to the value proposition of Indian jewelry.

Tucked away behind imposing gates in the heart of an industrial area in Mumbai lies the SEEPZ Special Economic Zone, where the revolution in Indian jewelry manufacturing began. In the space of a decade, it has transformed the industry from a manufacturing backwater into a sought after source of quality jewelry.

India’s total annual gold jewelry exports have increased from $847 million at the end of the 1990s to $5.6 billion today. More than a third of this total, or more than $2 billion in jewelry every year, is destined for jewelry stores in the United States.

How did the industry increase to six times its size in just one decade? At the core of this success story is the quick adoption of the latest technology with constant upgrades as each new technology enters the market. The use of CAD CAM has become universal and significantly reduced the turnaround time for jewelry. And now the next generation of technology, CNC machines for automatic setting, are gaining wider usage. But apart from the latest machines, Indian manufacturers are proactively seeking technology applications and innovations to their industry in order to better their products or improve systems and processes.

“We allocate about two to three percent of our budget for research and development and developing new designs,” says Prem Kothari of Fine Jewellery. “Our R&D department is manned by top engineers who are continuously working on the systems.” Fine Jewellery has currently taken a stake in a software company which is working on a special project for the manufacturer. “We are developing software which will provide end-to-end solutions from manufacturing to retail,” says Kothari. “It will cover all our offices and procedures.”

One of the applications of this software will be virtual casting which will enable the company to anticipate defects and tweak models, thus saving time and effort, as well as improving the quality of the finished pieces. The software is expected to be in operation in about six months to a year. “India is the information technology hub and many companies are taking advantage of this to improve their efficiencies and enhance their product quality,” says Kothari.

But IT apart, the Indian diamond industry has long been acknowledged as the technology leader, boasting the highest number of lasers and Sarin machines in the world. It is only natural that the technocentric approach has also been adopted by leading jewelry companies, since most are connected with diamond manufacturing companies.