International Diamond and Gold Convention will take place on November 2, 2007 at Hotel Taj Mahal, Apollo Bunder – Mumbai.
India occupies top position in importing, processing and exporting diamonds. With its cut and polished diamonds, colored gemstones, gold jewellery, pearls, non-gold jewellery and fashion jewellery, India holds nearly 50% of the international market.
Gems and jewellery sector contributes 15% in India's aggregate exports. It accounts for nearly 55% of the world's net exports of cut and polished diamonds in value terms, 90% in terms of pieces and 80% in terms of carats.
India now processes 85% of the world's polished diamonds, far ahead of other competitors. Every 11 of 12 diamonds sold around the globe are processed in India regardless of where these are mined.
India has shifted its trade focus from domestic economy to global markets through liberalized trade policies & lower tariffs. These measures have dramatically improved India's export market over the past 15 years, particularly for diamonds and jewellery.
The global gems and jewellery industry is on way to huge transformation. India has many natural advantages to emerge as Gems & Jewellery hub.
India has the largest and the best artisan force for designing and crafting the jewellery in the world. There is considerable scope of value addition in terms of capacity building at the domestic front, quality management and professionalisation.
ASSOCHAM has been playing a pro-active role in bringing to the fore India's potential in Gold and Diamond business and has been studying the possible future strategy for developing this sector in which India has a distinct edge.
We believe that with the right policy and regulatory framework India could establish itself as a brand in the international Gems & Jewellery market, increase employment and create new breed of entrepreneurship.
This Convention symbolizes ASSOCHAM's sincere commitment to develop the gems and jewellery sector of our industry, which has considerable potential both for the domestic as well as export market.
The Associated Chambers of Commerce and Industry of India
marketing@alchempro.com
