Gold Star contracts Rajesh Exports for jewellery outsourcing
19 Sep '05
1 min read
Jewelry manufacturer Rajesh Exports based in India, will be producing Rs1.24 billion's worth of gold jewelry for Gold Star Jewelry.
The 22-carat gold jewelry will be manufactured at Bangalore in the world's largest jewelry manufacturing facility. Capable of producing 250 tonnes of jewlery each year, it extends over 12 acres and measures 500,000 square feet.
This contract comes in the present climate of high gold jewelry demand, which saw world demand for gold rise by 14 per cent in tonnage terms in the second quarter.
A total of 949 tonnes of gold for use in jewelry manufacture were sold between April and June and this equates to a 24 per cent rise in value terms, recorded precious metals consultancy GFMS.
Gold Star jewelry is based in Singapore and stocks a range of gold pieces.
Founded in 1987, the World Gold Council is an organisation formed and funded by the world's leading gold mining companies with the aim of stimulating and maximising the demand for, and holding of, gold by consumers, investors, industry, and the official sector.
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