Tuesday, 21st March 2006 (4236 views)

Indian jewellers are confident that the recent boom in gems and jewellery exported from India to the Middle East is set to continue.

Shailesh Sangani of India's Gem and Jewellery Export Promotion Council said that around a quarter of India's gems and jewellery exports went to the region – amounting to some $4 billion.

"The average growth has been 15 to 17 per cent and we are confident this growth will continue," he said.

Of the countries in the region, Mr Sangani said that the United Arab Emirates was the best market for Indian gems. "Future growth looks stable for at least the next five years," he predicted.

Indian jewellery brands such as Nakshartra and Asmi have become established names in the Middle East, while UAE jeweller Damas' foray into the Indian market shows a degree of reciprocation.

"As both markets show mature and individualistic growth trends, excellent opportunities can be further explored," Mr Sangani concluded.

 

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