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DELEGATION TO CHINA 6-11 SHENZHEN, PANYU & SHANGHAI, 11-16 MARCH

Home DELEGATION TO CHINA MARCH 2006

Leader of Delegation : Shri Vasant Mehta, Vice Chairman

Members

A seven-member delegation led by Shri Vasant Mehta, Vice Chairman, GJEPC visited China during 11th March 2007 through 17th March 2007 with main objective being (a) to identify areas for joint ventures/setting up of manufacturing units in India and vice-a-versa (b) to enhance the bilateral trade relations and mark further areas of cooperation. The delegation visited the provinces of Shenzhen, Panyu (Guangzhou), Shanghai & Beijing. Presentations & welcome dinners were organized at these places which were well attended by the Chinese jewellery industry. 

Results

  • Were able to meet top retailers and major factories in Shenzhen & Panyu
  • Getting to know more about their demand and their products
  • Were able to visit the factories producing "diamond studded jewellery" and silver jewellery with CZ
  • Good interaction with the Government Officials and the wholesalers/manufacturers in knowing more about the Chinese Gem & Jewellery Industry
  • Positives are that "processing" of jewellery at Panyu is the best option for Indian Companies if they have to enter the Chinese Market and supply to local market and export.
  • China is going to the main market for jewellery within few years from now. They are already number on in consumption of Platinum, an high end product.
  • Liberalized policy, opening up for foreign investment has changed the outlook of consumers who are becoming richer everyday.
  • Western influence and young population is driving the economy.
  • Eye opener for Indian Companies to compete with the Chinese manufacturing.
  • Most of the diamonds are procured from Indian through Hong Kong channel.

Opportunities

  • To export cut and polished diamonds directly to China instead of routing through HK
  • To explore the possibilities of processing jewellery which is cheaper in China (Panyu) and to enter the local market which is going to be huge as per the prediction
  • To continue visiting China to explore the possibility of two-way trade
  • VAT is reduced to 4% and if exported through Shanghai Diamond Exchange it is 0% (clarification is yet to be received)
  • Buyer delegation is being proposed to visit IIJS 2007 from China.
  • Focus Areas for trade in goods for India in Chinese Market is gems and jewellery
  • 70% of the diamonds consumed in China is from India

 

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