Also present at the occasion Mr. Prakash Gupta, Consul- Commercial Affairs said, “There is need for constant relationship building between the two Industries and I on behalf of Consulate of India offer support to GJEPC in all such future endeavors”.
21 Indian diamantaires exhibited cut and polished diamonds of every size, shape and colour with world class designs and standards.
From high end premium solitaires in sizes ranging from 0.50 to 5.00 carats to all shapes & cuts of diamonds such as Rounds, Princess, Marquises, Taper/ Baguettes, Hearts & Arrows in all colour & clarities.
BSM witnessed visit of 186 major Chinese buyers to the exhibition. GJEPC organized a cultural evening as well on 3rd December' 07 for Indian Exhibitors and Chinese buyers & was attended by Mr. Lin Jin Ping- Vice Chairman of Shanghai Foreign Economic Relation & Trade Council along with senior DAC & SDE officials.
As per the KPMG-GJEPC report “Vision 2015” India and China together will emerge as equivalent to the U.S. market (in value terms) by 2015 and as the new manufacturing centers of studded jewellery.
India and China will retain their position as high volume Cut & Polished diamond centers, polishing about 87.6 % of the global rough (volume terms)China is one of the largest growing jewellery markets in the world.
China imports US $800 million worth of rough diamonds and US$1.1 billion of polished diamonds. There is huge requirement in China for diamonds and diamond jewellery, India being an undisputed leader in manufacturing diamonds is in an advantageous position to meet the growing demand of cut and polished diamonds in China.
Emerging from the relatively humble beginnings of a small and unorganized sector in 1950's the Indian industry has become the world leader in diamond processing with 11 out of 12 diamonds set in jewellery world-wide are cut and polished in India.
Of the world polished diamond market, India's share is 60% in terms of value, 85% in terms of volume and 92% in terms of pieces.
Gem & Jewellery Export Promotion Council
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