London Diamond Exchange (LDB) said it is well prepared to, to deal with problems related to exit the UK from the EU, according to Canadian Jeweler. The organization claims that her access to bonded warehouse will allow to conduct free trade, providing a cost savings for the members of the exchange.
Under the control of the customs authorities, customs warehouses enable you to store duty-dutiable goods imported and then re-export it. This means that if the European Union will introduce import restrictions against Britain, LDB members will be able to use the warehouses to their advantage.
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The Indian luxury market is expected to grow from the current level of $ 14.7 billion by 25%, to $ 18.3 billion by the end of 2016, according to a study conducted by the Association of Indian Chambers of Commerce (Associated Chambers of Commerce and Industry of india, ASSOCHAM).
The study says that categories such as luxury jewelry and personal care products, electronics, used cars, "luxury" SUVs and food category, showed strong growth in 2015, will grow by 30-35% in the next three years. This bodes well for the jewelry industry, whose representatives can use the opportunities arising in this sector.
D. S. Ravat (DS Rawat), Assocham secretary general, said the growth of people's disposable income, increasing familiarity with brands among young people and increasing the purchasing power of the upper classes in the cities of the 2nd and 3rd order, thereby the premium sector of the industry will continue to grow. As for the study of preferences of groups of people with high incomes, who spend about 40% of their monthly income on premium products, the proportion of such people is growing. Assocham survey showed that the cost of a premium product in this segment is not affected by the global economic slowdown. On the other hand, the citizens of middle-income countries spend 8-10% of their monthly income on premium products, Rawat added.
The study also shows that these data are consistent with global trends. Consumer spending in the world is expected to reach $ 40 trillion by 2020, with unprecedented growth in the $ 12 trillion over ten years. Assocham study was conducted in several cities. They pointed out that in 2015, Delhi had the highest level of luxury brands costs. For Delhi on this indicator followed by Mumbai, Ahmedabad, Pune and Bangalore.
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