Thailand is making a strong bid to export its silver jewellery to India to woo millennials, taking advantage of gold prices that had shot up recently, making the yellow metal unaffordable for many people.
According to trade members, Indian youth tended to prefer affordable fashion jewellery made of sterling silver, whose properties include brightness, unlike pure silver.
Towards this, Thailand’s Ministry of Commerce, Department of International Trade Promotion (DITP) on Saturday conducted the “Silverline Trade from Bangkok to Bombay Roadshow”. The show targeted members of the Indian gem and jewellery sector, to urge them to visit a forthcoming trade show in Bangkok and place orders to help meet demand in India.
Supatra Sawaengsri, consul (Commercial) and director, Thai Trade Centre, Mumbai, said Thai silver jewellery had special significance for India and Thailand can meet the growing demand from the Indian subcontinent.
“The millennials like silver jewellery and Thailand is the right partner [for] the Indian jewellery industry,” she said.
Saiyam Mehra, COA Member, All India Gem & Jewellery Domestic Council said, “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 said, “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 officials said the 66th Bangkok Gems & Jewelry Fair would be held in the period February 23-27 in Bangkok.