Indian Delegation Explores Commercial Ties with China

Two main themes were discussed by a seven-member delegation from India’s Gem & Jewellery Export Promotion Council (GJEPC) that visited China recently. Enhanced bilateral trade and identification of further areas of cooperation. In particular, joint ventures in manufacturing units in India and China.

The delegation was led by GJEPC Vice Chairman Vasant Mehta, and comprised mainly of diamond and diamond jewelry manufacturers and dealers.

The team visited jewelry manufacturing and related facilities in Shenzhen and Panyu, as well as the Shanghai Diamond Exchange. Seventy percent of the SDE members are Indian companies, mostly from Hong Kong.

The delegation also met with dealers and retailers from Shanghai, and had a positive interaction with Chinese government officials.

The delegation concluded that the Chinese market, with a large segment of young, wealthy consumers who are influenced by the West, has enormous potential for the Indian diamond industry.

Another of the delegation’s findings is that Indian companies could possibility set up polishing facilities in Panyu for accessing the Chinese domestic market as well as for export.