Thailand is making a powerful bid to export its silver jewelry to India to woo millennials, benefiting from gold costs that had shot up just lately, making the yellow metallic unaffordable for many individuals.
According to commerce members, Indian youth tended to desire reasonably priced style jewelry product of sterling silver, whose properties embrace brightness, in contrast to pure silver.
Towards this, Thailand’s Ministry of Commerce, Department of International Trade Promotion (DITP) on Saturday performed the “Silverline Trade from Bangkok to Bombay Roadshow”. The present focused members of the Indian gem and jewelry sector, to induce them to go to a forthcoming commerce present in Bangkok and place orders to assist meet demand in India.
Supatra Sawaengsri, consul (Commercial) and director, Thai Trade Centre, Mumbai, mentioned Thai silver jewelry had particular significance for India and Thailand can meet the rising demand from the Indian subcontinent.
“The millennials like silver jewellery and Thailand is the right partner [for] the Indian jewellery industry,” she mentioned.
Saiyam Mehra, COA Member, All India Gem & Jewellery Domestic Council mentioned, “Silver, the ‘democratic’ metal is well within everyone’s reach [and] is gaining ground because it’s precious yet affordable. India and Thailand have many similarities and commonalties in their gems and jewellery trade.”
“Indian silver jewellery exporters, like their Thai counterparts, have a strong handcrafting orientation, design database supported by quality manufacturing operations, mostly by MSMEs. India and Thailand can collaborate and explore synergies to enhance their global exports,” he added.
Mehul Shah, vice-president, Bharat Diamond Bourse and director, Star Brillian mentioned, “With the support of the Thai government, DITP is aggressively pushing export activities to India, Japan, U.S. and the Middle East. Our members will be happy to supply Thai jewellery to the nook and corner of the country.”
Thai officers mentioned the 66th Bangkok Gems & Jewelry Fair could be held within the interval February 23-27 in Bangkok.