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Sharp rise in Indian diamonds, gems’ export to China

LiveMint logoLiveMint 31-05-2017 K J M Varma

Beijing: India’s diamonds, stones and gems’ exports to China grew by a massive 28.48% to touch $2.48 billion last year, making the country second largest exporter to the burgeoning Chinese market, an official statement said on Wednesday.

In the first quarter this year, Indian exports of diamonds, gems and stones amounted to $558 million capitalising a total market share of 33.8, Indian Consulate in Shanghai said. India was the second largest exporter of gems, stones and diamonds to China with a total market share of 31.8%, it said.

The Consulate highlighted the figures during a road show held in Shanghai along with the Shanghai Diamond Exchange, (SDE) and Gems and Jewellery Export Promotion Council (GJEPCP) to promote Chinese companies participation at upcoming India International Gems and Jewellery Show (IIJS), to be held in Mumbai this year from 27 July to 31.

Speaking at the road show Lin Qiang, President of SDE said his organisation would actively consider participating at the IIJS 2017 with a large delegation from eastern China region. Consul General Prakash Gupta has emphasised that gems and jewellery were an important component of the trade basket with China and the Consulate would take all necessary steps to facilitate Chinese industry’s participation at the upcoming IIJS, it said in a statement.

IIJS 2017 event will showcase two separate events, one focusing on the gems and jewellery sector, while the other will display machinery and equipment related to the diamonds and jewellery industry. PTI

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