The official opening of the Thai Gem & Jewelry Distribution Centre in Mumbai, India, which is both the first in India and the world, was marked by the signing of an MoU between Thai government’s Department of Export Promotion (DEP) and Thai Gem and Jewelry Traders Association (TGJTA) with Re Jewelry, Lista City to form a joint venture for the same.
The MoU was formally signed today by Mr. Vichai Assarasarorn, President of TGJA, Mr. Atul Jogani, Vice President of TGJTA, Ms. Falguni Shah of Re Jewelry and Ms. Shenaaz Mahinsura of Lista City. The first centre will be located at Ackruti Sky Park in the posh Breach Candy locale of Mumbai.
The venture partners are leading names in the luxury market segment - “Re” is a multi designer store noted for offering the latest from freshest designers in India, with a product canvas from Indian and western wear in formal and semi formal motifs. Lista City offers Italian furniture with brands -Besana, Arketipo, Fiam, Turri and Magis, lights by Francolight and designer kitchens by Tisettanta.
The TGJTA and India joint venture partners expect a huge demand in times to come with market size developing into several million dollars. “This is a first of its kind venture for Thailand in India and it will boost the Indo-Thai relations by giving a fillip to Indo-Thai ties, “said Mr. Vichai Assarasarorn, President of TGJA. “There is a huge demand for Thai jewelry in India and this distribution centre at Ackruti Sky Park will be able to cater to these demands”, said Mr. Atul Jogani.
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