GJEPC signs MoU with Shenzhen exchange

“We have signed an 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 opportunity as an alternative market,” GJEPC chairman Pramod Kumar Agarwal said. Jewellery manufacturers from Shenzhen as well as other parts of China are also exploring long-term business relationships with their counterparts here.

The bilateral trade in the gems and jewellery sector has been on the rise in the recent years. In 2017, the trade had reached $ 21.41 bn, registering a growth of 29 per cent year-on-year, with exports from here clocking $ 13.96 bn. Shenzhen is the largest jewellery manufacturing hub in China housing nearly 5,000 units that employ around 1,50,000 people, including nearly 15,000 individual traders and professionals.

The Chinese market has shown growth over the last year. There is a great potential for further increase in diamond jewellery consumption as there is a rise in the number of Chinese getting married. 

The GJEPC is also looking at setting up bases in smaller markets like Bangladesh, Nepal and Vietnam, which will help the sector to incrementally grow, Agarwal said.

Bilateral trade in the gems and jewellery sector has been on the rise in recent years Last year, the trade had reached $ 21.41 billion, registering a growth of 29 pc year-on-year, exports from here clocking $ 13.96 billion Shenzhen is the largest jewellery manufacturing hub in China housing nearly 5,000 units that employ around 1,50,000 people, including nearly 15,000 individual traders and professionals.