The cooperation between FedEx and Indian factories may promote cross-border online diamond trading.
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Previously, we mentioned several times that India, a midstream country in the diamond industry, is committed to "destocking" actions. The news we received today further demonstrates India's positive attitude.
According to The Indian Express this morning, FedEx has reached an agreement with GJEPC to provide exclusive express delivery services to factories in Surat starting next week. According to the report, this service is now focused on customers in the United States. "With this service, American customers can purchase diamonds or jewelry directly from Surat's diamond factory, and FedEx will deliver them to their doorstep within seven days."
The report uses "American citizens" to describe buyers, so we speculate that these "customers" are not only downstream retailers, but also end customers.
FedEx stated that this is currently a pilot program and therefore only targeted at factories in Gujarat. If the experiment is successful, the service will be promoted in other diamond cutting and grinding points in India. The report suggests that the cooperation reached between GJPEC and Fedex will help optimize the logistics of buyers and sellers in the international market, and have a positive impact on trade in the middle and lower reaches of the industry.
Rajant Wani, a director of GJEPC in Gujarat, said, "GJEPC is the driving force behind this project. In the future, customers in New York can directly purchase even a jewelry product or a bare diamond from Gujarat. Of course, sellers must register with FedEx in advance."
For traders, GJEPC's membership certificate will be one of the mandatory documents for conducting business with FedEx. At present, there are approximately 2200 member units in Gujarat, and a considerable portion of them will become the first beneficiaries of this service.
In terms of cost, depending on the weight, the express delivery price for a package worth 800 US dollars is approximately 2000-2500 rupees (approximately 24-30 US dollars). FedEx will provide the seller with an online username and password so that they can track their package logistics at any time.
This cooperation was made by the GJEPC Gujarat office and over 200 Indian diamond jewelry companies at a recent online seminar, with the aim of promoting exports. Vijay Mangukiya, Regional Chairman of the China Council for the Promotion of International Trade, assured its member units that GJEPC will help "every company" increase exports and provide comprehensive support for opening up new export paths.
The Indian Express subsequently interviewed several Indian jewelers and diamond dealers, some of whom stated that although they have already sold their products online, they may also encounter problems with damaged goods. Sometimes, customers who receive goods far away may return them due to damage, causing the seller to bear all costs. With the participation of FedEx now, perhaps this issue will be resolved to some extent.
This move will undoubtedly promote natural diamonds and cultivate diamonds
