Most of the diamonds bought by the Chinese come from India.

August 12, 2021

Indian media said that Mumbai does not have its own Chinatown. But the business district on the west side of the Bandera-Gurla building is rapidly gathering some Chinese middle-class office workers, almost all of whom come to the trading center to buy diamonds from wholesalers.

According to the "India Times" reported on March 29, China surpassed India to become the largest gold buyer last year. Since then, the demand for diamonds has grown, prompting companies to send procurement teams to the diamond trading center in the Bandera-Gurla building. As a result, this suburban business district became a mini-China where residents were rented in apartments in or near the Bandera-Gurla building to spend the Spring Festival and fry.

钻石

The report said that some Indian diamond dealers have adopted various sales methods to cater to the needs of the Chinese. Their store stocks Fujian tea known for its aroma and taste. The meals they provide are accompanied by handmade natural ebony chopsticks. Many of their employees don't understand English, they only speak Gujarati, but they can speak fluent Mandarin.

Zhang Guihua, whose English name is Alice, said: "This is the first time I have come here to buy diamonds. The demand for diamonds in the Mainland and Hong Kong is very large."

Like other people, with a small magnifying glass, the dragon who came to the trading center said: "India's diamonds are cheaper than Hong Kong. We used to buy from Hong Kong. Now demand is growing sharply. Companies that receive large orders are sending to India. People, where you can get top diamonds."

The report said that in 2010, China surpassed Japan to become the world's second largest consumer of diamonds, second only to the United States. In that year, China’s diamond jewelry retail sales increased by 18% to reach $9.2 billion. This has also had an impact on India: India’s sales have increased by 17%.

Ashok Gajera, the owner of Laxmi Diamonds, said that Chinese people have been buying diamonds, and the number is increasing. Most of the diamonds they buy come from India.

“They now buy more diamonds. Before they care about quality, they only pick top diamonds. Now they will pick a lot of low quality diamonds because of the increased demand, because those also have a market.”

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