Chairman of the Rs 650 crore Su-Raj group Jatin Mehta says, "We expect about 30 per cent growth every year in the business." Gitanjali group chairman Mehul Choksi hopes for a 25-30 per cent annual growth in sales.

He estimates the overall domestic sales of diamond jewellery by all firms around Rs 25 crore with an annual growth rate of 20-25 per cent.

On the possible impact of economic slow down on jewellery sales, Choksis says, "We have been concentrating on low-end jewellery for the last three years and the response has been very good. The Gitanjali group offers studded jewellery in 18 carat gold in the price range of Rs 500 to Rs 4-5 lakh per piece. Also, it offers jewellery sets at prices ranging from Rs 25000 to Rs 2.5 lakh or more per set."

The grouphas introduced for the first time in India 24 carat gold jewellery under the brand name "Prime Gold", in three styles -- classic, antique and natural.

Another speciality of the Gitanjali group is its Maitreyi brand traditional Indian jewellery finely crafted in 18-22 carat gold. This may be studded with coloured stones, diamonds or can just be in plain form.

The group has also introduced under the `Rhea' brand, foreign jewellery for Indian buyers with western tastes. The jewellery is crafted in 18 and 22 karat gold and can be studded or plain.

The group, according to Choksi, has set up its own shops in Mumbai, Bangalore and Delhi and has about 200 outlets for its jewellery in various parts of the country. The group has five factories and is major exporter of diamonds as well as jewellery.

The Su-Raj group is now introducing multi-coloured gold jewellery at some of its distribution centres. It is also marketing its exquisite jewellery products, studded and plain under its "Forever" brand. In order toinspire confidence in jewellery buyers, the group offers a buyback guarantee.Jatin Mehta says long research spread over two years has revealed that Indian consumers, by and large, love traditional designs. However, their main concerns are about purity or gold quality of diamonds as well as about workmanship and finish.

His group offers exquisitely crafted diamond jewellery in 18 and 22 karat gold as well as plain jewellery in traditional and contemporary as well as modern styles at affordable prices ranging from Rs 1500 to Rs three lakh or more per piece. This jewellery sold under the `Forever' brand is hall-marked, certified and also farries with it buyback assurance. He is emphatic that when one buyers this 22 karat jewellery, he is assured of exactly that purity. Thus the buyer gets the true value for his money and the making charges are reasonable at Rs 85 per gramme. The group has set up its offices in six major cities and has outlets in three others.

Once upon a time the jewellery market was largelyconfined to the Mumbadevi area of the old city. It is no more so. A few diamantaires have set up their shops for studded as well as plain jewellery in the Opera House area, and some jewellers have done so in other parts of the city and suburbs. One can easily pick up from them rings, ear-rings, pendants, Mangal Sutras, bangles necklaces and nose-pins.