Friday, 16th December 2005 (3903 views)

India's largest exporter of gold jewellery is expecting to report ten per cent growth at the end of the current financial year.

According to Rajesh Mehta, Rajesh Exports' chairman, markets such as Singapore, Kuwait and Dubai are driving India's jewellery export market despite the global increase in gold prices.

In addition to its strong performance in the export market Rajesh Exports is also planning to open a number of retail outlets in India by the end of November 2006.

"As part of the venture, we plan to introduce four brands of gold jewellery and two brands of diamond jewellery, thereby catering to most price points," explained Mr Mehta to the Business Standard.

Mr Mehta went on to describe the high hopes he has for the retail outlets, expecting them to generate 20 per cent of the company's turnover during their first year of operation.

"In our case, the manufacturer will be directly catering to the consumer, thereby leveraging our current status as the largest gold jewellery processor in the country," he said.

Currently Rajesh Exports generates 85 per cent of its turnover from exports and 15 per cent from domestic trade sales.

 

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