Silver Jewellery Exports Will Jump 30% In Fy13

"The increasing costs of gold combined with all the economic slowdown across the world have brought about a change in the usage pattern. Consumers are favouring white metal jewellery over gold goods. Whether inside the US or in Europe, sterling silver jewelleries have become very common considering customers locate them affordable. Consumers who preferred white gold and platinum jewelleries earlier are today flipping over to silver," said Sabyasachi Ray, executive director, Gem and Jewellery Export Promotion Council (GJEPC). The eastern European nation of Poland has appeared because one of the leading markets of silver jewellery inside recent times. The US and different EU countries are showing wise need, according to exporters. Demand for silver statues plus antique silver pieces are gaining ground in the CIS plus eastern European markets, mentioned Suresh Hundia of Hundia Exports. The demand for silver jewellery has been spurred by the falling prices of the metal. While silver prices in the worldwide market touched $29.92 per ounce on Monday, in India the exchange cost of the metal was hovering around Rs 56,200 per kg, that is down by Rs 135 per kg. Silver exporters based in Jaipur plus Delhi regions have benefitted the many from this cost fall. These regions have become silver jewellery hubs. KB Agarwal of Jaipur-based ShreeJi Gems & Jewels said: "European markets are growing and we are getting good orders from there. Spain, for illustration, is keen to choose up low-value items, when Italy is lookin at highvalue items. The US is placing orders for fashionable high-value products. The condition is a lot better compared to FY12." Pankaj Parekh, vice-chairman of GJEPC, said leading retailers in the US, that earlier used 14k gold for favored items like diamond-studded bracelets, have today shifted to sterling silver. See More at http://articles.economictimes.indiatimes.com/2013-02-19/news/37179953_1_silver-jewellery-jewellery-export-promotion-council-hundia-exports