In a bold, Fura Gems, headquartered in Toronto, unveils plans for a strategic entry. Dev Shetty, President and CEO of Fura Gems, revealed the company’s ambitious agenda, stating, “Fura is actively seeking prospects within India for diamonds and an array of colorful gemstones, including emeralds, rubies, and sapphires.”
After successful ventures in diverse locations such as Dubai, Mozambique, and Colombia, the company now eyes India as a pivotal market, recognizing its significant importance. Shetty emphasized India’s stature as the world’s third-largest consumer of jewelry and a central hub for gemstones. He highlighted the ongoing transformation of the Indian gems and jewelry sector, attributing the shift to the growing preference for branded jewelry, signaling a shift towards a more organized market.
Shetty further outlined Fura’s strategic approach, stating, “We aim to seize opportunities in gem mines, be it through government auctions or partnerships with existing players. Upon securing licenses, either independently or through collaborations, our expansion plan includes bolstering our team for rigorous exploration and mining initiatives.”
To support these endeavors, Fura Gems intends to establish corporate offices within India, strengthening its operational foothold. This announcement comes hot on the heels of Fura‘s recent acquisition of an emerald mine in Colombia, showcasing its commitment to expanding its global presence.