Tuesday, 15th February 2005 (4032 views)

Gold and jewellery trade between Italy and India has seen an increase as society develops in India and Italian firms focus on small and medium Indian companies.

Trade increased by 21 per cent in the first nine months of 2004, according to latest figures, and jewellery is a key area of growth.

President of the Italian chamber in India, Narinder Nayar, explained to AGI: "The data is encouraging in the jewellery sector: in the first months of 2004 Italy imported jewels worth 37.62 million euro from India.

"India is the largest producer and consumer of gold, with around 800 tonnes per year, and has an advantageous tariff to the US compared to EU countries. Italian companies could invest in India, supplying in this way the largest gold market in the world, which is interested in Italian design, and then arriving to the US market with Indian prices."

Italian products were first promoted in India in 2002, through a chamber of commerce party that promoted Italian goods in India.

 

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