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Cover Story - Ever energetic and thumping, the jewellery industry of India is witnessing a new phenomenon. And, this phenomenon is the forward vertical integration. With the manufacturers ‘eliminating the middlemen’, and injecting in huge funds to capture the retail arena, the competition is getting stronger by the day. While this foray has many benefits such as the price control, quality control, lower transportation costs, elimination of the mark-up and most definitely the higher margins than the trading scenario, this step needs a lot of caution. Being a game of patience and high inventory cost, a long-term plan, patience and large investments play pivotal roles. Priyanka Desai and Kunjal Karaniya discuss this phenomenon in detail in our big story this month.

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