GJEPC partners with Shenzhen Rough Diamond to boost trade
today Aug 16, 2018
The Gem & Jewellery Export Promotion Council (GJEPC) has signed a MoU with the Shenzhen Rough Diamond Exchange to boost diamond trade between India and China. Shenzhen is the largest jewellery manufacturing hub in China.
GJEPC is looking to make inroads in the Chinese market and as per the agreement will be setting up an office to widen its reach in China.
China has been a lucrative market for trade in the gems and jewellery sector witnessing a growth of 29 percent to $21 billion with exports from India touching almost $14 billion.
"We have signed a MoU with the Shenzhen Rough Diamond Exchange (SRDE) to promote our trade and open an office to tap fast-growing Chinese diamond market. We want to broad-base our market and China is expected to provide us the opportunity as an alternative market," GJEPC chairman Pramod Kumar Agarwal said in a statement.
“The Chinese market has shown growth over the last year and there is a great potential for further increase in diamond jewellery consumption as there is a rise in the number of Chinese getting married,” he added.
The GJEPC is also in talks with Kuwait to explore some opportunities in the country and also expanding its base in smaller markets like Bangladesh, Nepal, and Vietnam.
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