Basel (Switzerland), Mar 24 (PTI) India today invited leading watches brands, including Rolex, Raymond Weil, Tissot and Tag Heur, to set up manufacturing bases in the country.

Commerce and Industry Minister Anand Sharma, who inaugurated the Indian pavilion at the world''s most coveted watch and jewellery show ''Basel World 2011'' here, met a high- level delegation of watch makers of Switzerland here.

The Gems and Jewellery Export Promotion Council (GJEPC) of India has organised the ''India Show'' here.

"The meeting was focused on encouraging the Swiss brands to set up manufacturing base in India to develop product and also to enter the country through retail," GJEPC Chairman Rajiv Jain said.

"Sharma addressed a high-level delegation of watch makers of Switzerland such as Rolex, Raymond Weil, Tissot and Tag Heur in order to establish long term ties and mobilise them to invest and retail in India," he said.

The ''India Show'' is hosting India''s top 53 brands at this global platform. The show is also an attempt to showcase India''s rich culture and cuisine at the global level which is being ghosted at the elegantly displayed India Palace created in BaselWorld 2011.

Jain said that Sharma also met with diamond traders based in Antwerp and asked them to set up base in India in order to make the country a global jewellery hub.

On gems and jewellery exports, he said that India''s exports from this sector is expected to grow by 35 per cent in 2011.

"With our participation at Basel World, the council aims at increasing the trade intensity towards India," he added.

During April-January period of the current fiscal, gems and jewellery exports stood at USD 30.59 billion, an increase of about 38 per cent over the same period last year.

Source :- PTI News