Dubai/New Delhi, Nov 6 (PTI) Toronto-headquarteredgemstone mining and marketing firm Fura Gems has plans toforay into the domestic gems market, a top company officialsaid.
"In India, Fura is actively looking for opportunities indiamonds and colour gemstones like emeralds, rubies andsapphires as a product category," Dev Shetty, President andCEO of Fura Gems, told PTI over phone.
After doing businesses in places like Dubai, Mozambiqueand Colombia, the company is keen to invest in India, which isvery important market for the company, he said.
India is the third largest jewellery consuming country inthe world and a hub for gemstones. Shetty said Indian gems andjewellery market is highly fragmented and is rapidlytransforming into an organised sector due to the growingacceptance of branded jewellery.
"We will also try to invest in gem mines wheneveranything is put on auction by the Indian government. If we areable to source the licence either via government auctions orjoint ventures with existing players, we will expand the teamfor the next phase of exploration and mining. This team willbe supported by the corporate offices coming up in India," headded.
Fura recently announced acquisition of an emerald mine inColombia. PTI ABIARD.
This is unedited, unformatted feed from the Press Trust of India wire.