Worried over the rupee strengthening against dollar and the US government's decision to impose fresh duty on jewellery imports from India, the Indian gems and jewellery sector is looking for new areas like Saudi Arabia to sell their products.
As part of this, an Indian business delegation is visiting Saudi Arabia to seek ways to boost export of gems, diamonds, stones and jewellery to the kingdom.
The delegation of the Gem and Jewellery Export Council (GJEPC) is promoting the forthcoming International Jewellery Show Signature (IIJS) to be held in Goa from February 29 to March 3 next year.
The
k" id="div_arti_inline_advt">
delegation felt that India's gems and jewellery trade with Saudi Arabia is small. It is high time India forged closer ties with the country which is one of the largest consumers of diamond and gold jewellery.
Recently, a high-level delegation from Mumbai's Indo-Arab Chamber of Commerce and Industries had visited the kingdom.
As trade and investment policies are constantly getting liberalised and emerging ambiguities regarding foreign direct investment and special economic zone policies clarified, opportunities for Saudi stakeholders are increasing in India, the delegation felt.
