Jewelers and gem traders from Pakistan have called for the governments of India and Pakistan to open up their common border to facilitate gem trade.
Gold Art Promotion Council-Pakistan President Muhammad Azghar, who is currently attending ‘JCK New Delhi 2008, stated: “At present, whatever jewelry trade is done between the two countries is via Dubai. As the jewelry market is unorganized and most of them are small jewelers or merchants, a lot of business between the two countries is illegal.”
He continued: “We want the political establishment of both the countries to open up the borders to facilitate our trade.”
Karachi, which is the main commercial hub of gems and jewelry, supplies 60% of the total demand to other parts of the country.
Pakistan is interested in importing Indian machines and buying Indian designs in addition to facilitating the ongoing trade in gold. The COO of Reed Exhibitions India, Mandeep Singh, stated that the gold market in India currently stands at $13.5 billion, and is expected to reach $23.5 billion by 2012.
Tags: gem, mandeep singh, reed exhibitions
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