Friday, 23rd February 2007 (3836 views)

India's bid to become recognised as one of the premier gold jewellery manufacturers in the world is being aided by a trio of factors.

According to the president of Madras Jewellers and Diamond Merchant's Association, LKS Syed Ahamed, India's ascent in the jewellery market can be attributed to competitive production costs, a lower customs tariff and the quality of the product.

Speaking at a conference declaring the Gem and Jewellery India International Exhibition (GJIIE), World Gold Council vice president Kumar Shivram added that India is currently accounting for around 22 per cent of the world's gold production in terms of jewellery.

Mr Shivram continued by stating that the mandatory hallmarking of gold that will be enforced from next January would put an increased emphasis on quality.

In addition, Mr Shivram spoke of the benefits that would arise due to the emergence of more high profile business to business trade exhibitions.

GJIIE begins on March 2nd and lasts until the 5th and will be the third such event to have taken place.

 

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