ISSUES OF ARMENIAN-INDIAN COOPERATION IN SPHERE OF JEWELRY AND DIAMOND MANUFACTURING DISCUSSED

Noyan Tapan
Mar 20 2006

YEREVAN, MARCH 20, NOYAN TAPAN. Issues of deepening cooperation between
Armenia and India in the sphere of jewellery and diamond manufacturing
were discussed at the March 18 business meeting organized in Yerevan
by the Association of Goldsmiths and Jewellers of Armenia. At the
event the Armenian side was presented by 7 and the Indian side by 3
companies. The meeting was followed by the exhibition of the Armenian
participant companies at the salesroom of the Jewellery Plant of
Yerevan. During the meeting’s opening speech Emil Grigorian, the
Chairman of the Association of Goldsmiths and Jewellers of Armenia
presented the jewellery and diamond manufacturing as an important
branch of the RA economy as needing usage of little raw materials and
power-consuming, it has possibility to develop in the existing hard
transport conditions. He asked the meeting participants to discuss
issues of education, marketing, deliveries of coloured natural precious
stones and diamond, cooperation in the issues of creating joint
ventures. The Indian side was interested in the order of training the
staff of the branch. According to E.Grigorian, the problem is solved
by training the staff both in the industrial educational institution
and at industrial enterprises. Fuad Hamamji, the representative of the
“Al-Manara Jewellery” Indian company functioning in the United Arab
Emirates mentioned that he arrived in Armenia from Lebanon where the
jewellery is concentrated in hands of Armenians. He attached importance
to Armenian jewelry enterprises’ quick response to preference of
assortment in Arabic market as well, increasing of capabilities to
turn out as precious as possible production of more improved quality
as it’s difficult to compete with Indian and Chinese companies having
cheap labour. According to Grigorian, both small and big enterprises
function in Armenia the bag of equipment they possess gives possibility
to turn out production of any quality and design: particularly, the
Jewellery Plant of Yerevan carries out orders of the “Cartier” and
“Louis Vuitton” companies. But new markets are necessary to use and
develop the existing capacities completely. Nader Nasreddine, the Sale
and Marketing Manager for Persian Gulf, North Africa and Iran of the
Rosy Blue Indian company founded the “Diamotech” diamond enterprise
in Armenia, considered possible exchange of the company’s small raw
diamond with worked diamond of Armenia as well as carrying out of
orders of working precious stones in Armenia. Indian companies have
strong positions, particularly, in the Congo market of diamond and
coloured precious stones. By the Indian side’s proposal, cooperation
possibilities will be discussed after visiting Armenian jewellery and
diamond manufacturing enterprises on March 20. A big Armenian-Indian
business forum will take place at the Armenian Development Agency on
the same day.