Russian President Vladimir Putin and Indian Prime Minister Narendra Modi will discuss how to increase the turnover of diamonds during Putin's visit to India later this week.
Citing its sources, Deccan Herald reported that Modi is going to explain how the measures that New Delhi is developing to simplify tax and customs procedures, will allow Russian traders to more easily export rough diamonds to India directly without intermediaries.
Modi and Putin will hold its annual meeting in Goa on October 15, before the start of the work with their counterparts from Brazil, China and South Africa at the eighth summit of the BRICS.
India imported in 2015 about 38% of all diamonds produced in the world, the report said. Nevertheless, 80% of imports of rough diamonds from Russia to India goes through third countries.
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It is expected that Hong Kong jewelry exporters focus on the more accessible and less expensive jewelry in the coming months, the Trade Development Board, according to Hong Kong (Hong Kong Trade Development Council, HKTDC ).
As the world markets there is still economic uncertainty, consumers are likely to depart from the immoderate purchases. This is stated in the report "Prospects of Hong Kong export" in 2016. "Thanks to their care, most buyers are likely to stick to buying less expensive jewelry of good quality and design, rather than to consume the products of famous brands," - said the HKTDC.
According to the Council, the exporters in Hong Kong are also faced with the problem of unstable prices of precious metals and stones, considering the difference in monetary policies of various banks in the world. Exporters also cautiously talking about sales hours in 2016 as the main demand will be in the sports models and the smart watch. "However, the classic watch market can also be supported in particular, the demand for less expensive products, such as fashion watches, can be kept at a high level against the general frugality of consumers.", - concluded the HKTDC.
In general, Hong Kong's export market in 2016 is likely to show steady but modest growth, believe in the Council.
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