Jewelry India
2011
Indian Artificial Jewelry Market Wary Of Chinese Chequers
“The arts are an even better barometer of what is happening in our world than the stock market or the debates in congress.” – Hendrik Willem Van Loon
Chinese Premier, Wen Jiabao’s visit to India has not been hailed as a success despite of the quantum of deals signed – 48 agreements worth over USD 16 billion. Had it been any other country the media would have gone into self congratulatory overdrive, highlighting India’s increasing stature in the world trade, however this time the missing euphoria was quite noteworthy.
China is our biggest trade partner, yet it remains the most fickle minded one. Reports keeps on pouring every now then about the heated border disputes, china’s usage of Pakistan to counter our increasing military economic stature, leaves this relationship cold & dry and doesn’t allow it to grow beyond suspicion.
Many small traders have questioned the need of allowing Chinese companies to operate in India when they do not get similar gestures that easily. Chinese companies are notorious for flooding the markets with their dirt cheap products and slowly overtake it as their monopoly. One of the worst hit segment due to this heavy influx is our very own artificial jewelry industry. Many of the artificial jewelry exporters echo the sentiment that in the name of globalization, their domestic market is getting ruined and the government of India has remained a mute spectator so far.
India is one of the hottest market for all the manufacturers and suppliers across the globe due to their young spending power, which is open to experiment and has got handsome disposable income. Chinese companies are trying to en-cash this opportunity by offering their latest designs at never heard before prices. Indian artificial jewelry are certainly low on the technological front and their designs do not boast of that kind of variety which is offered by others. Many traders feel that due to Chinese invasion their right to exploit their domestic market first has been denied in the name of economic liberalization.
Industry insiders suggest that the objections of Indian artificial jewelry makers are valid and they are being denied the home advantage. On second thoughts, they also add that, they themselves are partly responsible for the current mess. Analysts further say that these manufactures have two options in front of them, either to moan in pain and keep complaining about government’s policies or to understand the need of the time, break the shackles of the old mindset, try to acquire new technology and regain the lost market solely on their merit.
Despite of all the arguments and counterpoints , the big question remains – Would the Indian artificial
jewelry manufactures
really be able to stand up to the occasion and deliver? I guess only time would be able to answer it, however, what is crystal clear is – unless our artificial jewelry makers adapt to current changes rapidly, it would be tough for them to survive the Chinese onslaught!
PS: If you are an
Indian Artificial jewelry
exporter get your online catalog today and make profits by tapping the business queries being generated across the globe on the web 24/7 . To know more, click on
Artificial Jewelry India
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About the Author
I am a B2B industry analyst. I write about the export industry in India and abroad. My articles attempts to track the EXIM community’s present issues and future challenges in the various industry segments. Hope I am able to provide some valuable information to the exporters and manufacturers in India and across the globe.
Kundan Jewelry India, Jewellery
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