The Gem and Jewellery Export Promotion Council has engaged UK-based Trend Forecasting for trend analysis focussing on the global market.
Trend Forecasting was extremely essential to increase market in places like Europe, a senior GJEPC official said.
He said there was immense potential in the European market and at present, India's share of exports to this region was very small.
With the hiring of the UK firm, GJEPC would be able to study the changes in market trends, likes and tastes of the customer as a whole.
Keeping in mind the importance of trend forecasting, the council had also arranged to convene a seminar early next month in Mumbai.
For the current financial year, exports of gems and jewellery had been pegged at $14 billion, reflecting a growth of 12 per cent.