Latest News & Events

Reports of GJEPC Leaving China Are False, Chairmen Says

Vasant Mehta, chairman of the Gems & Jewellery Export Promotion Council (GJEPC) has denied reports that the GJEPC may pull its diamond cutting and polishing business out of China.

"I wish to clarify regarding a misquote in one of the newspaper here in India and on major websites about GJEPC pulling out of China and 'calling back' of all the goods. This news item is totally incorrect and misguiding. No one from the Council including me have ever made any such statement," Mehta told IDEX Online in an emailed statement.

"The Gem & Jewellery Council and its members respect the laws of all countries, including those of China and does not support any illegal activities. We are aware of and acknowledge help of Shanghai Diamond Exchange (SDE) to GJEPC in the growth of official trade between India and China in Diamonds and would work along with SDE to grow this business," Mehta added.

After 21 Indian diamond merchants were arrested in Shenzhen on smuggling charges earlier this month, India's business daily Business Standard had quoted Mehta as stating the GJEPC would "have to consider pulling out from China" if the arrests were "a retaliatory action" for India's arrest of three Chinese engineers connected to an industrial accident last September.