Thai Minister of Commerce Urges India to Collaborate in Jewelry Production

During his visit at the 24th India International Jewelry Show (IIJS), Thailand`s Commerce Minister Krirk-Krai Jirapaet called on India to join hands with Thailand rather than compete with it.

The bangkokpost website quoted the Minister as saying: "What we hope is that with your help, we can move forward. With the conclusion of the free trade agreement (FTA), we are hopeful that trade between the two countries will be propelled to the next level."

Thailand has built up a reputation for producing high-end gems and jewelry but it is forced to face tough competition from countries like India where low labor costs combine with government incentives to boost the industry.

While addressing the participants of the trade show, India`s State Minister for Industry Ashwani Kumar called on Indian and international companies to focus on India`s domestic market where there is an emerging demand for fashionable jewelry and the growing middle class is spending money.

Last year Indian gem and jewelry exports reached $17 billion.