Silver Mines secures $20m investment from Lundin, Rule-led fund
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Indian gold jewellers operating on different scales are working together to increase the industry’s presence abroad and capture a greater share of the global market.
For the first time, small and medium jewellers were invited to the Gujarat International Jewellery Show so that they could showcase their goods and discuss their trade with the bigger operators.
“The big jewellers have resources to advertise but small ones fall behind. So we are providing them a good platform,” Shanti Patel, president of the Gem and Jewellery Trade Council of India (GJTCI), was quoted in the Times of India.
“We have very skilled workers and jewellery making is low cost in Gujarat. If we increase our exports we can give a good competition to countries like Italy.”
The GJTCI will soon launch a training institute for designers and a gem testing laboratory, seen as necessary steps if the industry is going to become world class.
Ten jewellers from Gujarat are expected to participate at the International Jewellery Show in Dubai this December, the most ever Indian representatives.
After a series of measures designed to curb imports and reverse India’s growing trade deficit, the government recently provided gold buyers with a bit of respite, reducing the import tariff on gold from $458 to $461 per 10 grams.
See also: India vs Gold
