Vasant Mehta: Both India and China have space to grow

In his address at the 2010 China Diamond Conference recently held, Vasant Mehta ex-chairman, Gem & Jewellery Promotion Council ( India’s apex G&J trade body) presented the audience with insights into various growth aspects witnessed in India’s gem and jewellery sector, including superior technological capabilities, efficiency of labour, Government aid which have helped India establish itself as ‘Global jewellery Hub’

In his address he also touched upon this growth relative to the post global economic slowdown phase saying, “While the US still remains a large diamond jewellery consuming centre, there can be no doubt that India and China are the centres of the future for the diamond industry on all fronts.”

“There are those who keep closely monitoring the developments in both these countries as if the two are in a race. However, I believe that there is space for both. There are many Indian companies which are already developing ties, cooperation and relationships with China on many fronts.” He highlighted the key strengths of the two growing markets in “sheer numbers of population, of skills, as developing economies and as markets.”.