March 26, 2011
India is the world’s largest diamond processing countries, but the location that has lasted for many years is likely in the near future become history. Government’s preferential policies, a large number of skilled technical workers, as well as strong domestic demand, China, the world’s second largest diamond processing will likely become a replacement.In Qingdao Jinghua Diamond a processing plant where more than 400 workers are busy with tensions have continued their clear division of labor, design, cutting, polishing, testing all kinds of size of the flash Jingjing of diamonds. Yan Li Jie one of skilled workers told the China Daily reporter this year, the workers work overtime every day, the average daily grinding out 2,000 stars finished diamonds, exported to Belgium. Factory limited space has become more busy and noisy workshop early this year, 50 new tactics to make workers more than 2,000 square meters of workshop seemed increasingly crowded.
Here noisy scenes people completely unable to fire it with a word the world’s most linked to – the economic crisis.
Managing Director of Jinghua jewelry Zhu Xin-Wei, told the China Daily, how the economic crisis did not affect the Core Pacific’s business, the company this year, is planning to recruit 200 new workers, assigned to the company’s eight plants across the country, added to the existing three , 1000 workers were contingent.
Jinghua company is a leader in the diamond processing industry. “Despite the economic crisis and defeated a number of small businesses, but most Chinese diamond processing companies are still working well,” said Zhu Wei.
In contrast, the situation in India is an altogether different. It is reported that, due to shrinking global demand, a sharp decline in diamond exports in India since the end of last year more than 2,000 companies went bankrupt, nearly one million skilled workers jobless.
In 2004, China became the world’s second largest diamond processing country, second only to India, and since then, China’s rapid expansion of the diamond processing industry.
Global consulting firm KPMG recently released a report, by 2015, China’s share of the global diamond processing will rise to 21.3%, while India’s share of the decline from the current 57% to 49%.
But the domestic-related professions are more optimistic look at this prospect.
“The Chinese market is in a rapid upward trend, and three years later, China’s diamond processing will exceed India’s,” Y & M Jewelry Huangzhao Yong said the vice president, Marketing, Y & M Jewelry, Inc. is a relatively large size of the diamond processing companies.
Aiffany jewelry company’s general manager of Deng Weiguo agrees to this forecast, he said, “In China, the diamond processing industry is rapidly emerging. Three-year catch-up is not an issue.” Aiffany jewelry company is a medium-sized diamond processing enterprises.
Strong domestic demand in China also increased optimism the diamond processing industry. Gemmological Association of China, told China Daily reporter Wang Fang, China is now the world’s fourth largest diamond consumer, but demand is growing at the fastest pace.
In 2006, China abolished the import of rough diamonds value-added tax, while the taxation of polished diamonds from 17% to 4%, since then, China’s diamond trade has developed rapidly.
Shanghai Diamond Exchange data show that in 2007 China’s refined polished diamond exports surged to 147 million, an increase of 194%, in 2008 is expected to reach 900 million U.S. dollars.
China’s technology has also advanced more than India. “India’s diamond processing has a long history, but the quality is not good in China, but also much smaller scale,” Jinghua Jewelry Co., Ltd. skilled workers Yan Li Jie said. Yan Li-jie has 25 years of industry experience, but also to India several times to visit.
In recent years many overseas importers, taking into account the high level of China’s diamond processing industry, but also have come to China to purchase diamonds without Zaiqu India. Many Indian companies have also set up factories in China.
“What we need expertise not available in India,” Indian diamond company Jayam NV owner of Mihir Shah said that he now owns a diamond processing plant in Shandong.
However, China’s diamond processing industry’s growth path will not be too easy, because China’s labor costs are still higher than India’s more than that “in China’s processing cost of 1 carat diamond is 17 dollars, while in India costs only 10 dollars,” Aiffany company Deng Weiguo said.
In China, a total of more than 80 diamond-processing enterprises, mainly in Guangdong, Zhejiang and Shandong, the number of employees nearly 60000. In India, the diamond processing industry employing nearly more than a million people, distributed in tens of thousands of workshops in the country.
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