Production of jewelery in Dubai is expected to receive a powerful impetus, as their dependence on imports from India will be reduced. The import duty is currently being considered as a prerequisite for the introduction of value added tax in Dubai.
Meanwhile, not all exports of jewelry from India to the UAE will be affected, as many jewelry from India is mainly re-exported from Dubai to other parts mira.Tolko jewelry imported for local use in Dubai will be subject to duty.
The new 5-percent charge, however, can increase the sale of wedding jewelry in India, because many Indian buyers traveled to Dubai for a cheap gold, but now the price difference may not be attractive enough for them.
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Kalyan Jewellers announced plans to expand in Qatar. Later this month the company will open seven stores in Doha in one day. This is a record for the number of boutiques to be opened on the same day.
Kalyan has been steadily expanding its presence in the Gulf region since it started its international activities. In two years, the company has opened more than 40 stores in India and the Gulf region. Kalyan Jewellers also plans to reach the milestone of 100 showrooms in the first half of the year.
"Our business in the Gulf region grew double-digit pace, we expect that the presence in Qatar will be crucial for us, It will allow us to ensure that the medium-term objective, which is to obtain 40% of the revenue of our group of companies in Gulf countries -.. Said TS Kalyanaraman (TS Kalyanaraman), Chairman of the Board and Managing Director Kalyan Jewellers -. Qatar is a robust retail market with a turnover of $ 12.4 billion due to growth in population and the increase in the number of expatriates We also believe that we have a tendency. Jelenia this country to the consumption of premium products is an excellent opportunity that our company can take advantage of, given our strong portfolio of high-end jewelry, belonging to the category of everyday. Our designs include both modern and traditional motifs of products. "
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