Opening up production in Armenia will make it easier to export to the US and Europe, Mr Darshan Shah, director of Indian Gopaldaas Jewellers (based in Dubai), told Armenian News – NEWS.am.
Armenia has GSP+ trade agreements both with US and EU, which allows exporting at zero or low rate customs duties. Those agreements apply to a number of goods, including jewelry.
When it comes to production, artisanal skills of Armenian jewelers are high and comparable to their peers in India, he said.
“There is a huge potential of fantastic handcraft. And the cost of production is similar, if not the same, as in India”, the director noted.
Now Mr Shah is in the middle of talks with Armenian jewelers on whether to set up a joint venture or to set up his own factory. “We’ll make our decision in 2-3 months”, he added.
The company has production in India and is about to open retail outlets in the US. Looking for cost-effective ways to reach out to the American market is therefore a priority, Mr Shah stressed.
“Then we think about perhaps exploring the market in Europe,” he said.
