Thursday, 5th May 2005 (2590 views)

Latest figures on Indian jewellery have shown that the country accounted for 800 tonnes of gold consumption each year.

In addition, 70 per cent of this consumption is from demand for wedding gold and jewellery, according to the Hindu.

However the World Gold Council (WGC) has argued that export figures achieved were "insignificant" in terms of global trade.

It has encouraged business to attend the upcoming business to business event in Chennai to help them gain a clear understanding of the global market.

Council vice-president, K Shivram, argued that the exports were down because of poor craftsmen standards, something that needs addressing.

Mr Shivram has called on merchants to attend the event so that it can progress in the global jewellery market.

In addition, India has been called on to introduce some sort of standardisation for jewellery in the country.

 

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