The gold jewellery trade between India and Turkey is forecast to grow at the rate of 10-15% as Turkey is promising emerging market and a gateway to Europe?s jewellery market.
Turkey has a unique advantage of being a bridge between Europe and Asia where jewellery machinery, manufacturing techniques and skills are a distinct advantage. A high powered jewellery delegation from India met with the business counterparts and partner organisation TOBB, TAJ & DIEK to promote cooperation in terms of trade, technology transfer and joint venture within the jewellery industry and to outline areas of business for Indian jewellery sector in the Turkish market and visa versa.
The event was organised by WGC and ficci. The business delegation was supported by India?s ministry of commerce and industry. The delegation was led by Mehul Choksi, chairman of the Ficci Gem & Jewellery committee. The visit coincided with the prestigious Istanbul Jewellery Show. The import between Turkey and India currently stands at $63, 06,937 and the export stands at $40, 87,083. Ficci expects 18% growth in the gold segment, 10% in the diamonds segment and 15% in the colored stones segment.
The delegation included a strong 43 members participating consisting of prominent branded players, manufacturers and from all verticals of the Indian jewellery industry.