Gemfields plans increasing share in India to 30%

Gemfields plans to grow in India, increasing its market share in the country from the current 20 to 30 percent, and focus on the market as one of its major regions in the future, reports say. The company cites India as its key market and intends to achieve the 10 percent growth within three to five years, reports add.

To materialize its growth plans in the country, Gemfields would be building a brand to sell the gemstones. Also, it would engage in consumer awareness endeavors to inform them about benefits of certification, while also establishing transparency to build consumer confidence, reports add. It is also exploring mining opportunities in India and has initiated talks with some state governments for the same, as per reports. The company also intends to increase sourcing of cut and polished coloured gems stones, reports add.