Gold ups imitation jewellery demand 85%
Majority of the shopkeepers said people want attractive and affordable jewelleries in line with the current trends in fashion. Even if gold prices decrease, artificial jewellery will continue to attract good demand, it said.
Imitation jewellery is largely made of brass, cast iron, nickel, plastic beads and stones, instead of precious metals and gems. It does not have much resale value and prices range between Rs 100 and Rs 30,000, the study said.
India is the second largest manufacturer of imitation jewellery after China. Indian costume jewellery has a huge demand in the US, Europe, Canada, Australia and many Asian countries.
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