Vasant Mehta: India and China are the Future

(IDEX Online News) - “As the world moves into a new era post the crisis, there are many aspects that have changed fundamentally. Key to this is the shift in focus. While the U.S. still remains a large diamond jewelry consuming centre, there can be no doubt that India and China are the centers of the future for the diamond industry on all fronts,” said former GJEPC Chairman Vasant Mehta at the 2010 China Diamond Conference in Shanghai.

Mehta discussed how India attained a leadership role, noting the country’s technological capabilities, labor force and how government aid helped it establish itself as a global jewelry hub.

“Taken together, the two eastern giants are a formidable force, in every way, whether in sheer numbers of population, of skills, as developing economies and as markets. I look forward to the unfolding of the future in which our two great nations will take centre stage,” Mehta added.

The conference comes on the heels of the fourth Indo-China Buyer Seller Meet held in Shanghai on December 1-3. The event, organized by the GJEPC and Shanghai Diamond exchange (SDE), included an exhibition some 25 booths of loose diamonds. One of the goals of the Meet is to connect Indian diamond polishers with Chinese jewelry makers.

According to GJEPC Chairman Rajiv Jain, the event is part of a continuous effort to boost trade between the countries.”