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Denny Wang
The Retail Jeweller
|September - October 2019
In an email interview, Denny Wang, Regional Director, Global B2B Business South Asia, Alibaba. com gives detailed insights into the emerging opportunities for the gem and jewellery industry on its platform.
The Retail Jeweller: Please tell us the opportunities Alibaba.com creates for the Indian Gem and Jewellery industry
DW: Alibaba.com established its India operations in 2008 and has since served millions of buyers and sellers. Currently, it operates with a network of 6 million members, connecting Indian SMEs with buyers across the world. For India, Alibaba. com has identified the gems and jewellery export as a strong growth segment and is planning to focus on building a merchant base on the platform from this cluster.
TRJ: Who are the potential buyers on the platform?
DW: Gems and Jewellery buyers on Alibaba. com are located in more than 200 countries and regions all over the world. Gemstones buyers’ products are most popular in North America, Middle East and Central America.
Major export destinations for the sector include Hong Kong, the UAE and the US. In FY18, the three countries accounted for over 80 per cent of India’s total exports of gems and jewellery.
TRJ: How is the Indian Jewellery industry viewed as a sourcing base by international markets? And which are the other competitive markets?
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