Commodity Online
India is keen to enter into bilateral tie ups with China and Vietnam in gold and diamond trading. Jewelry Shanghai 2009, held from 13-19 May, 2009, at Shanghai New International Expo Centre, has a seven-member Indian delegation from the Council visiting the show.

The Gems and Jewellery Export Promotion Council (GJEPC) sent a seven-member delegation to China and Vietnam to interact with the prospective traders over there and establish areas of co-operation in these two countries.

The delegation will be looking into possibilities of joint ventures and also be working towards establishing bi-lateral trade relations between these two nations in diamond sourcing for jewellery manufacturing. The delegation has also be given the responsibility of seeking participants for the India Diamond & Colour Stone Show and India International Jewellery Show (IIJS) 2009, to be held in Mumbai.

The seven-member delegation includes prominent names like Bakul R. Mehta of GJEPC, Daxesh Doshi of Rosy Blue (India) Pvt. Ltd, Jayesh Munjani of Munjani Brothers, Ashish Mehta of Siddhi Diamonds, Suresh Shah of Twinkle Diamonds, Shripal Manilal of Gem Star Company Pvt. Ltd and Kewal K. Duggal of GJEPC.

In China, the delegation is scheduled to meet some important figures from the Chinese jewellery industry like the Director of Shanghai Diamond Exchange, Secretary General of Diamond Administration of China, members and office bearers of Gems & Jewelry Trade Association of China, prominent members and office bearers of Panyu Jewellery Manufacturers Association. They will also visit the diamond cutting and jewellery manufacturing units in Puxi (Old Shanghai) and Pudong (New Shanghai).

In Vietnam, the delegation is likely to be meeting the office bearers of the jewellery section of the local Chamber of commerce and Chairman of Vietnam Gold Trader's Association.

The Chinese jewellery industry is growing at the rate of over 10 percent and the gems and jewellery businesses all over the world have started turning towards the Chinese market in order to promote their brands and sell their products.

According to a new industry report, India and China are together expected to equal world's largest jewellery market, the United States, by 2015 when the global gems and jewellery trade is expected to touch $230 billion. The GJEPC commissioned report by global consultants KPMG estimates that "with collective action, the industry has the potential to grow to $280 billion by 2015 at a year on year growth of 6.7 percent".