China eyes Indian jewellery markets

After flooding the markets with its cheap and attractive products across numerous sectors, the dragon has now set its eyes upon capturing the Indian markets for jewellery and diamond processing.

Currently, India is the reigning leader in global diamond polishing and export business with an estimated global market share of around 90 per cent.

In its cagey gambit to realise the goal of confining the 'Indian' edge, China has rapidly begun to attract Indian diamond traders and manufacturers to its mainland through various tax sops and infrastructural amenities.

The trend is also reflected in the continuously growing diamond trade volumes at the Shanghai Diamond Exchange.

Image: Gold jewellery. | Photograph: Reuters