Monday, 4th September 2006 (5870 views)

Gold jewellery exports from India are expected to more than double over the next ten years, according to new research.

A paper from the Associated Chambers of Commerce and Industry of India (ASSOCHAM) suggested that sales will rise to Rs315 billion by the year 2010, from their present level of Rs175 billion. By the year 2015, revenues are predicted to reach Rs479 billion.

Demand levels will also increase from their present levels of 800 tons per year, says the report. By 2010, they are expected to stand at 980.82 tons and will carry on rising up to 1152.64 tons by 2015.

The report was released on Saturday (September 2nd) by company affairs minister P C Gupta., at the 2nd Gold Summit.

ASSOCHAM president Anil Agarwal commented: " The same trend will continue for the future as the appetite for gold in India will increase with yearning for its value in addition to export gains.

"Gold jewellers have identified exports as a focus area, setting up manufacturing units and design training centres to improve quality. The industry is also promoting Indian ornaments in the US, Hong Kong and the west Asia.

"For example, India's export of articles of jewellery to the US has increased from $565 million dollars in 2001 to $1,751 million dollars in 2005. India has thus displaced Italy as the largest exporter of articles of jewellery to the US."

 

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