At the beginning of December a meeting was held for the first time in Shanghai between diamond manufacturers in India and Chinese buyers. The meeting came as a result of initial cooperation between India's Gem and Jewelry Export Promotion Council (GJEPC) and the Shanghai Diamond Exchange.
Twenty-one Indian diamond companies participated in the three-day show from December 3 to 5, and displayed high-quality wares. Some 100 buyers from all over China attended the show and met with various manufacturers whose wares were on display.
Chen Kun, Chairman of the Shanghai Diamond Exchange, welcomed the participants and noted: "This meeting will open doors for business opportunities between the two industries and I hope that this show will change the widespread misconception among Chinese buyers that India only manufactures small and cheap stones."
India estimates that by 2015 the Indian and Chinese markets will together equal the American market (in dollar terms) and that both of these centers will maintain their status as the world's leading polishing centers and jewelry manufacturers.