India’s Gem & Jewellery Export Promotion Council (GJEPC) organised a virtual business meeting with Oman on 28th January, 2021, in order to connect jewellery manufacturers from India and leading retailers/wholesalers of Oman.
Mr. Ravi Shanker Goel, Second Secretary (Commerce) Indian Embassy in Muscat, said, “This initiative will help the Indian gem and jewellery manufacturers to understand the challenges, opportunities, market scenario, and tariffs in Oman.”
Colin Shah, Chairman, GJEPC, said, “The India-Oman bilateral trade pertaining to gems and jewellery is not significant. This is apparent from the fact that Oman imports gold jewellery amounting to $431.52 million from the world. However, from India it imports gold jewellery worth only $2.51 million, constituting a 0.60% share of the total. Our design sensibilities match and the Middle East accounts for 66% of India’s total gold jewellery exports, making it the largest market by far.”