Urges importers to stop import of imitation jewelery from China

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Mumbai, Ta. 15 June 2020, Monday

India's imports of imitation jewelery from China are likely to fall sharply due to hostility towards China. The Imitation Jewelery Manufacturers Association has urged its members to stop importing from China. China has captured 8-90 per cent share of India's Rs 2,000 crore imitation jewelery market.

Some of the country's imitation jewelers are now looking to South Korea. The price of South Korean jewelery is going to be the same as the cost of production in India, sources in the association said. Imitation jewelery made from base metals like copper, zinc and brass is imported from China.

The association recently convened a meeting of its members to ask them to stop importing imitation jewelery from China, an association official said. The suggestion came as part of Prime Minister Narendra Modi's self-reliant India campaign, sources said. Members have been asked to increase production by building technology at home to reduce dependence on cheap Chinese imports.

There are also instances of under invoicing by importers. This is because the prices of finished products are lower than those of raw materials, the sources claimed.

Sales of domestically produced goods have declined in recent times due to cheaper imports from China. However, given the growing resentment towards China from around the world, including India, there is hope that imports will decline.

Compared to China, the prices of South Korean imitation jewelery are almost the same as those produced in India, which means that Indian manufacturers do not have to face stiff competition in terms of prices, the sources added.

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