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Imports-Exports: Italy imports gems and jewellery from many countries. Excepting imitation jewellery, which had quota restriction previously, other items of gems and jewellery can also be imported under the 5% Deposit Scheme. Wholesale turquoise Jewellery
Jewellery dealers have to get a licence and maintain up-to-date stock registers. VAT has been increased from 35 to 38% for investment in gold or diamonds.
Italian exports of jewellery
remained subdued for sometime in the last decade, but they have reportedly been
picking up thereafter. Over the years nearly all major importers of Italian jewellery
have increased their purchases.Wholesale gemstone jewellery American buyers lead with 43%. In Europe, England
is in the lead. Germany has come up from the fourth to the second place.
More Cooperation with India: Italy is keen to increase cooperation with India in the field of jewellery, reports our Editor Alok Kala, who usually visits one of the Vicenza Fairs during his annual mid-year European tours. Italian authorities have been keen to strengthen bilateral gems and jewellery trade relations with India.
Italy is being helpful in modernizing the tradition-bound Indian jewellery industry, which India is upgrading and expanding. They also desire to enter the fast growing Indian jewellery market.
Italy is now concentrating on India also. Twenty big Italian jewellery manufacturing companies, selected by the Italian Trade Commission, New Delhi have formed a consortium to export gold jewellery to India from Arizzo, the main Italian jewellery manufacturing centre of Italy. The consortium has launched its branded jewellery at a retail outlet in Mumbai fot kicking offsales in India in August, 2004.
Lately Italy has been increasing trade relations with China also.
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