The cooperation between FedEx and Indian factories may promote transnational online transactions.
India, a middle-stream country in the diamond industry, has repeatedly mentioned its commitment to "destocking", which shows India's positive attitude.
According to The Indian Express this morning, FedEx has reached an intention to cooperate with GJEPC to provide exclusive express services for the factory in Surat from next week. According to the report, this service now focusses on customers in the United States. With this service, American customers can purchase diamonds or jewellery directly from the diamond factory in Surat, and FedEx will deliver it to your door within seven days.
The report uses "American citizens" to describe buyers, so we guess that these "customers" are not only downstream retailers, but also end customers.
Source: FedEx official website
FedEx said that this is still a pilot program, so it is only for factories in Gujarat. If the experiment is successful, the service will be promoted at other diamond grinding points in India. The report believes that the cooperation reached by GJPEC and Fedex will help optimize the logistics of buyers and sellers in the international market and have a positive impact on the middle and downstream trade of the industry.
Rajant Wani, director of GJEPC Gujarat, said: "GJEPC is the driving force of this project. In the future, guests in New York can buy even a finished piece of jewellery or a bare diamond directly from Gujarat. Of course, sellers must register with FedEx in advance.
For traders, GJEPC's membership certificate will be one of the mandatory documents to do business with FedEx. At present, there are about 2200 member units in Gujarat, and a considerable number of them will become the first beneficiaries of this service. In terms of cost, depending on the weight, the express price of a package worth 800 US dollars is about 2000-2500 rupees (about 24-30 US dollars). FedEx will provide sellers with online usernames and passwords so that they can track their parcel logistics at any time.
Source: FedEx official website
This cooperation was made by GJEPC's Gujarat office and more than 200 Indian diamond jewellery companies at a recent webinar to promote exports. Vijay Mangukiya, regional chairman of the Council for the Promotion of International Trade, assured its member units that GJEPC will help "each company" increase exports and "provide all-round support for opening up new export paths".
The Indian Express then interviewed several Indian jewellers and diamond dealers, some of whom said that although they had already sold their products online, they would also encounter problems with damaged goods. Sometimes, customers who are far away from the receiving place will return the goods because the goods are damaged, so that the seller can bear all the costs. Now with the participation of FedEx, this problem may be solved to some extent.
"This move will undoubtedly promote the transnational online trading of natural diamonds and diamond cultivation."
