Second Indo-China Buyer-Seller Meet Yields Good Results

The Indo-China diamond buyer-seller meet that took place in late September was successful in creating powerful synergies between two of the world’s largest markets.

The trade event was organized by The Gem & Jewellery Export Promotion Council (GJEPC) in association with the Shanghai Diamond Exchange (SDE) and included twelve companies from India and around 180 buyers.

“The fact that this year’s meet was held in Shenzhen, which is a jewellery hub, put us right at the centre of the action,” says Vasant Mehta, chairman of the GJEPC, who led the delegation to China. “It is also very close to Panyu from where a major chunk of China’s exports takes place.” 

Mehta added that the GJEPC had achieved its aim of targeting those buyers who were not buying directly from India. The GJEPC is also taking a similar exhibition to Panyu in the future, he said.

Indian sellers offered a vast variety of goods up to 10 carats and including fancy shapes. However, the main demand was for polished diamonds between 30 pointers to one carat of VVS and VS qualities.

The event was initiated based on an insight in the KPMG-GJEPC report – Vision 2015.  The study indicated that India and China together would emerge as equivalent to the U.S. market in value terms by 2015.

It is estimated that the Chinese market presently consumes 3 percent of the world’s diamond value at $522 million and is the seventh largest market in the world.  Growth is expected to be around 18 percent annually.