LAS VEGAS, Jan. 31, 2024 (GLOBE NEWSWIRE) — via IBN — GEMXX Corporation ( OTC: GEMZ ) (“GEMXX” or the “Company”), a leading provider of exquisite gemstone jewelry, is excited to announce its insights into the burgeoning jewelry market in India, showcasing remarkable growth projections between 2023 and 2033.
According to recent industry forecasts, the jewelry market in India is poised for exceptional expansion, with an estimated increase of USD 21.54 billion anticipated between 2023 and 2027. This surge is supported by an impressive compound annual growth rate (CAGR) of 5.54%, positioning India as a key player in the global jewelry arena.
In specific focus, the colored gemstones market in India is expected to reach US$ 707.8 million in 2024, with a robust 10.5% CAGR projected between 2023 and 2033. This acceleration is anticipated to culminate in a staggering US$ 1.9 billion for the market by 2033.
“This industry forecast pinpointing the increase in demand for colored gemstones and gold allows investors a safe haven for investing in a company backed by gemstones and gold rather than a sometimes-volatile technology stock,” stated Jay Maull, CEO of GEMXX Corp.
“The growth rate of the colored gemstone market in India is surpassing the overall growth rate of the jewelry market in India by 2.1%. Ammolite, a relatively recent addition to the Indian colored gemstone market, has the potential to attract a significant portion of buyers seeking something innovative or distinct from conventional colored gemstones,” further commented Jay Maull, CEO of GEMXX Corp.
Beyond mere aesthetics, gemstones and gold in India hold a distinct significance for a substantial portion of the population, believed to possess divine powers. The demand for colored gemstones is also on the rise, driven by their perceived Vedic properties, making them more than just precious stones but also carriers of sentimental and astrological value.
GEMXX Corporation is strategically positioned to capitalize on this growing trend, offering an extensive range of ammolite products to cater to the evolving preferences of the Indian market. As a global leader in the industry, GEMXX Corp continues to innovate and provide unique gemstone options that resonate with the cultural and spiritual sentiments of consumers.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the ammolite industry in new and exciting directions. Our management team is made up of the industry’s leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
For more information, please visit: GEMXX Corporation
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed. /S/ Jay Maull, CEO
GEMXX Corporation
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