Thailand is eyeing Indian market to sell their gems and jewellery. As part of this, the two countries have agreed to work together for improving bilateral trade in gems and jewellery sector.

Thailand, known for its coloured gemstones, is keen to make its presence felt in India, where the market is responding positively to gemstone-studded jewellery.

Indian and Thai industry bodies were exploring various opportunities and might form a separate entity to promote the trade.

Indian jewellery industry is also optimistic that the ongoing India-Thailand FTA talks would consider gems and jewellery when they extend the early harvest list for the treaty.

In value terms, coloured gemstones currently form a small pie of the trade. India and Thailand are optimistic about the growth due to increasing consumer demand.

Conventionally, India is popular for its penchant for gold, while the demand for diamonds is growing at a rapid pace. However, the coloured gemstones are assuming importance in the market as consumers with deep pockets become increasingly fashion-conscious.

Earlier coloured gemstone purchase was largely associated with religious connotations. With international travel and exposure to global fashion trends, the Indian market is leaning towards stone-studded jewellery. The customers are demanding diamond and gold jewellery studded with gemstones to keep pace with the changing fashion trends.

As a part of its plan to enter India, Thailand would be showcasing its gemstone-studded jewellery at the upcoming India International Jewellery Show to be held in Mumbai.

The Thai delegation would also undertake roadshows in Mumbai, Delhi, Jaipur and Chennai.