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Yiwu: India Takes Up Traders’ Case With China Again | news.outlookindia.com

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India today asked China to allow two Indian traders facing legal proceedings in this country to return home pending resolution of their case, but Beijing said they cannot leave without paying dues to local businessmen.

The issue of Deepak Raheja and Syam Sunder Agrawal, who had threatened to commit suicide if they were not sent home, was taken up by External Affairs Minister S M Krishna with his Chinese counterpart Yang Jiechi on the sidelines of the BRICS summit in New Delhi.

This was the third time in the last two months that Krishna took up the traders’ issue with Yang, Indian embassy sources here told PTI.

Indian officials said they have been urging the Chinese Foreign Ministry to permit the duo to go back home as they can return whenever the court wants them.

Foreign Ministry spokesman Hong Lei, however, told a media briefing here today that the two should comply with the court order to pay compensation to the Chinese businessmen.

As a country under rule of law, China “protects the legitimate rights and interests of people concerned,” he said replying to a question on the traders.

“As far as we know (a) local court has tried to mediate the case and handled it according to law. Since the two Indian businessmen up to now have not honoured their compensations commitment relevant court has ordered these two not to leave.

“This order is still in effect. Hope the businessmen will truly respond to the demand of relevant Chinese businessmen so that the issue can be properly handled,” he said.

Hong was referring to a lower court’s order in Yiwu. But since early this month, the case has been taken up by a higher court in Jinhua, which reserved its order on the duo’s plea that they were only employees of a company which owed dues to the tune of over a million RMB (USD 1.58 lakh) to the local businessmen.

Raheja said that though they were earlier accused of owing 10 million RMB, the court document only says over a million RMB.

The Indian consulate in Shanghai said they had to arrange a lawyer with the great difficulty as no advocate in the city was willing to take up the duo’s case.

Besides funding their lodging, food and medical expenses for a month, the consulate sent its officials to be present in the court.

A diplomat, S Balachandran, was manhandled when he tried to seek their release in Yiwu court in January.

Indian officials here also met the Chinese Foreign Ministry officials and appealed to them to permit the two to go home as they can return any time the court wants them.

So far the consulate has spent 43600 RMB (about USD 7000) on the case and now stopped the payment saying that they have no provision to continue to pay their expenses. They want USD 128 per day for maintenance.

Meanwhile, the two are on hunger strike since yesterday, a day after they were thrown out of the hotel where they were staying due to pending bills, and sent e-mails to media threatening to commit suicide one after another in a week if they were not sent back home.

The Indian consulate today arranged to get their passports back from the hotel and send them to Yiwu to renew their visas, sources at the embassy here said.

The court has put a travel ban on them.

The Indian embassy and consulate are doing what they can do, an embassy official said. “We have arranged their train tickets for Yiwu and gave some pocket money.”

He said rules permitted Indian missions to provide financial assistance to stranded Indians only for 15 days, whereas in this case the expenses of the duo have been paid for a month.

 

Yiwu Indian Traders Sleeping On Streets of Shanghai

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Beijing, March 29: Two Indian traders who are awaiting judgment from a Chinese court over a bitter dispute with businessmen in the southern trading hub of Yiwu were forced to spend Tuesday night sleeping on the streets of Shanghai because they have run out of money, The Hindu reported. 

Deepak Raheja and Shyamsunder Agarwal stand accused of owing 10 million RMB ($1.58 million) to Chinese traders after the Yemeni owner of their trading firm fled abroad leaving unpaid dues.

The two traders were held hostage in Yiwu for over two weeks in December by Chinese suppliers. They were subsequently allowed to leave for Shanghai following a court hearing, and were being looked after by the Indian Consulate in the city while awaiting the verdict.

     

The Consulate had so far spent around 45,000 RMB ($7,142) on their hotel bills and living expenses, but had to stop payments as they did not have the approval from New Delhi for further funds, an official said.

“We were thrown out of the hotel because we could not pay the bills, and had to spend Tuesday night sleeping on the street,” Raheja said in a telephone interview.

The two traders have written to the Ministry of External Affairs in New Delhi seeking financial assistance of $128 a day until the verdict is announced.

While thanking the Consulate for its support over the past weeks, Raheja said he is in a “dire” financial situation after paying 900,000 RMB ($143,000) out of his own personal savings to suppliers while he was being held captive. Both traders do not have access to any other funds, he said.

      

The traders have also asked to be allowed to return to India, though there is little likelihood of that until the case is resolved. Chinese prosecutors and dozens of suppliers hold them accountable for a vast sum of money, while court authorities are in possession of their passports.

Hearings on the case began on March 1 at an Intermediate court in Jinhua, near Shanghai. Suppliers accused the two Indian traders of being liable for the dues, and have produced documents and receipts, with the traders’ signatures, to prove their case.

Raheja is arguing that the signatures were made under duress. He said he was only an employee in the firm, which he claimed was owned by a Yemeni national who has absconded. He has also filed a case against the suppliers for kidnapping and torture, and demanded the return of his money.

       

Indian officials have asked Chinese authorities to speed up investigations and announce a verdict soon to resolve the matter. External Affairs Minister S.M. Krishna raised the issue with his counterpart Yang Jiechi during a visit here last month, when he also met the two traders. “It has already been three weeks since the hearing,” an official said. “This situation cannot go on forever.”

2 Indian traders in Yiwu: Kidnapped, assaulted & now abandoned?-

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Kidnapped, assaulted & now abandoned?

29 Mar 2012, 0848 hrs IST

Indian trader Deepak Raheja was freed from the illegal custody of the Chinese just three months ago but now Raheja and his colleague Shyamsundar Agarwal again in deep trouble with no money and Indian embassy stopping financial help they are fending for themselves on the streets of Shanghai. Deepak Raheja, Indian trader, said, “We are sleeping on the footpaths of China. Indian Government is saying that we do not have funds. We cannot leave the country because of the own going case.”

Raheja and Shyamsundar were held hostage in the Chinese trade hub of Yiwu in December after their owner fled leaving behind massive dues. Shyamsundar Agarwal, Indian trader, said, “The consulate in our embassy keeps on saying that they will do something and that we should wait for a day. But we are in very poor condition, neither do we have anything to eat nor do we have any shelter.” The Indian Government is promising action. The fate of these Indian traders now hangs in balance but with the Chinese President Hu Jintao scheduled to arrive in New Delhi today for the BRICS Summit some hope for their return.

via Kidnapped, assaulted & now abandoned?- TIMESNOW.tv – Latest Breaking News, Big News Stories, News Videos.

Yiwu:Indian traders in Shanghai told to ‘honour’ their commitments

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Chinese officials on Thursday said the two Indian traders who have been rendered homeless in Shanghai while awaiting judgement from a Chinese court cannot leave the country unless their case was resolved and they “honoured their compensations”.

Deepak Raheja and Shyamsunder Agarwal have been accused by Chinese traders of owing more than 10 million RMB ($ 1.58 million) after the Yemeni owner of their trading firm in the southern hub of Yiwu fled abroad leaving dues unpaid. The two traders were held hostage in Yiwu for two weeks in December, but allowed by a local court to leave to Shanghai after surrendering their passports while prosecutors investigate the case.

The two traders have been forced to spend the last two nights on the streets of Shanghai after being thrown out of their hotel because they could not pay their bills. The Indian Consulate in the city had so far been covering their expenses, but said it did not have the approval to go beyond the 45,000 RMB ($7,142) it has already spent on the two men.

While the traders have told the Indian media they will go on “a hunger strike” until they are allowed to leave China, such a prospect remains unlikely until the legal procedures run their course.

Chinese officials also stress that the traders still have to answer the charges of suppliers who have lost millions on account of the trading firm where they worked. The firm owes their customers in Yiwu at least 10 million RMB ($ 1.58 million).

“As far as we know, the local court has tried to mediate the case and handle it according to law,” said Foreign Ministry spokesperson Hong Lei.

“Since the two Indian businessmen up to now have not honoured their compensation commitment, the relevant court has ordered them not to leave. This order is still in effect. We hope the businessmen will respond to the demand of the relevant Chinese businessmen so that the issue can be properly handled.”

Mr. Raheja and Mr. Agarwal have said they were only employees in the firm and it was the Yemeni owner who was responsible for the payments.

However, Chinese traders have produced documents and receipts in court, with the signatures of the Indian traders, acknowledging the dues. The Indian traders said the documents were signed under duress.

Hearings began in an Intermediate court in Jinhua, near Shanghai, on March 1.

According to one legal expert familiar with the workings of the Chinese system, even the best outcome for the traders would possibly be deportation without jail time but would likely also entail a heavy fine, one which Mr. Raheja says he will be unable to pay. “Even if the owner is Yemeni, if he cannot be found, it is very hard to imagine the authorities letting foreign nationals leave scot free when there are angry Chinese traders still owed money by the same firm,” the expert said.

With the trading firm’s Yemeni owner still untraceable, Mr. Raheja told The Hindu he is in a “dire” financial situation, having already paid 900,000 RMB ($143,000) out of his own personal savings while he was being held captive. He has also demanded compensation for his money and for the trauma he faced while being illegally detained by Chinese suppliers.

Indian officials have asked Chinese authorities to speed up investigations and announce a verdict. With three weeks having passed after the hearing, an official said the “situation cannot go on forever.”

via The Hindu : News / International : Indian traders in Shanghai told to ‘honour’ their commitments.

Yiwu Luxury Products Demand Soars

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　No luxury, not Yiwu. Wearing flip-flops “ragamuffins, threw more than 30 million to buy a watch – similar to the wonderful story, not uncommon in Yiwu luxury consumption.Boutiques, street such as bamboo shoots emerge, but also seems to indicate that, although the financial crisis, debt crisis in Europe, Yiwu has been increasing demand for luxury goods.

　　Compared with its predecessors, Yiwu consumer of luxury active on the rise, consumer demand for luxury goods gradually from the first “identity” to the diversification of evolution.“Cake” more and more, and often went to Shanghai, Hangzhou, Hong Kong and other places to buy watch, the public address him by name of the package, I hope there are more luxury brands to Yiwu to shop.

　　[Consumer story:

　　Wear flip-flops ragamuffins ho throw 300,000 to buy only watch

　　The Intime justice uy shop, brings together leading international luxury brand stores. Into the mall main entrance of the left hand side can be seen Cartier watches and jewelry manufacturer, the French set up a special retail stores in Yiwu. Store decoration is simple and elegant, the staff said, opening the past three years, a lot of interesting consumer story.

　　One afternoon, a middle-aged male customer came to the store to buy watches. At that time, early summer, the temperature is not low, the upper body of the male clients only an ordinary cotton T-shirt, feet, wear a pair of flip-flops, the hands of even the nails did not repair the image of a little “dirty”. However, during part of the “dirty” in the store by the polite reception staff to arrange his seat, handed him the tea, half an hour’s time, the Cartier brand and watches . Male clients to relax and salesman chatted about the various international famous brand watches, he also mentioned that the most fancy watches, watch movements.

　　Before leaving, the male customers to store watches, but did not not have to buy. A week later, the store routinely return visit to customers, and politely invited him to patronize again. A few days later, the male customer really the second door and bought more than 30 million in a private collection Cartier Diamond watch, but in a very short period of time.

　　First chat, we found that customers watch very good at, I did not realize he ‘start’ so fast. “Cartier Yiwu person in charge of Tao Lina said the customer back to the store to buy the one hand, thanks to the professional services the other hand, is that customers really buy luxury goods.

　　Market situation:

　　Turnover of the explosive growth of new store openings monthly by 50%

　　In Yiwu, be regarded as a luxury brand is not much, but luxury brands are mostly stationed in Yiwu, a rapid development. In addition to Cartier (Cartier), Omega (Omega), LANCOME (Lancome) and other international brands of third-tier cities with strong spending power Yiwu show interest.

　　In January of this year, French skincare brand Lancome counters set up in Yiwu.Lancome China branch had done before the survey found that Shanghai, Hangzhou and other places Lancome, from Yiwu, VIP customers accounted for a certain percentage. After careful consideration, the company decided to set up special counters to seize the high-end cosmetics consumer market in Yiwu in Yiwu. Although newcomers to the shop the Intime justice uy America Lancome person in charge of Wang Zhen, Lancome in Yiwu but there are a lot of loyal customers, this performance reflects. The original has been nearly two months, the monthly turnover of the counter than a month an increase of nearly 50%. “This result is in the new stores opened in the country over the same period, ranking is also very front.” Zhen said.

　　Opened in the past three years, Cartier gave out a good results. Previously did not do any publicity activities under the premise, Yiwu new store just opened in only an afternoon, the turnover reached 50 million, more people coming forthright customers a one-time purchase of three jewelry table. 2010 to 2011, the counter sales over the previous statistical year more than 50% performance growth rate higher than the Cartier counter an average growth rate of nearly 20 percentage points. At present, the annual sales of the counter has exceeded 10 million yuan.

　　Reporters learned that China Brand Strategy Association, previously used for statistical, China now has 175 million consumers have the ability to buy various brands of luxury goods, accounting for 13% of the total population. Of which about 10 million to 13 million people are active buyers of luxury goods, the products they buy are mainly concentrated in watches, handbags, cosmetics, fashion and jewelry and other personal items. The history of developed countries show that the per capita income of about $ 1,500, luxury consumption started, when the per capita income of $ 2500, luxury consumption will rise sharply.

　　The statistics department data shows that in 2011, Yiwu urban residents per capita disposable income of 40,078 yuan, according to the present exchange rate of about $ 6,362.Visible, the Yiwu luxury consumer demand is in an eruption.

　　Customer changes:

　　To buy luxury goods not only to face emotional communication has become a new demand

　　Tao Lina is one of the main person in charge of the Cartier silver Tay, America, Asia, Yiwu shop, special retail stores was first established in 2009, she was working in the store.About Yiwu luxury awareness and consumer mentality changes, she had some of his own feelings.

　　Just opened, we have been to explain to the customer Cartier brand much better now, according to the needs of customers directly for them to recommend various products. “She said, after nearly three years of business, Yiwu Consumer brand awareness is high, many customers came and ran the brand. This change, thanks to Yiwu on luxury understanding of the initiative.

　　Intime Department Store righteousness Yimei shop one staff member said, Yiwu people to buy luxury goods, has not only to reveal the identity, more consumers are willing to emotions into one.

　　Some time ago, a 35-year-old young man came to the mall, spent 78 million yuan to buy a pair of Cartier round watch, one to wear, one to send his wife to commemorate the couple married for 10 anniversary. Tao Lina said, like the emotional “luxury” consumption has been more and more. For example, engagement occasions, to buy tokens of gifts; parents’ birthdays, children gifts; some good sisters, will go hand in hand to buy.

　　Insiders summarizes the change of people the luxury, the early 1990s, most people still do not know why the objects of luxury brands. The first batch of people to go abroad to know luxury, luxury goods to demonstrate their quality of life gradually became the pursuit of the goal of many people. But the initial consumption follow the trend of the majority, at this stage like LOGO is very obvious luxury.

　　Yiwu local consumers, with the understanding of the cultural and historical background of the luxury brand, more and more people to diversify and are concerned about the limited edition products, and then by the scarcity of luxury to express love, affection the value of friendship.

　　Potential business opportunities:

　　The luxury brand outlets less open boutiques, merchants increased

　　While luxury goods purchasing power is strong, unfortunately, not many international big-name outlets in Yiwu, a lot of people had to go to Hangzhou, Shanghai, Hong Kong and foreign cities to buy. “I Dayi Zai prefer GUCCI bag Yiwu choices, she will often go chasing new and sometimes asked a friend to purchasing.” Mr Chu said members of the public.

　　However, the asymmetry of the relationship between supply and demand of luxury goods allows part of the Yiwu businessmen smell business opportunities, they began to invest opened boutiques in the city’s bustling section.

　　Mr. Chang started out by doing the export business of foreign trade has been a few days stay in Italy, he would like to find a well-known in the local clothing brand, and then introduced into the Yiwu market.

　　The “the Yiwu luxury market potential has yet to be excavated.” Mr. Zhang is planning to invest 15 million to manage the luxury clothing business.

　　Yesterday afternoon, the reporter came to Yiwu, a new road, more a sign of several boutiques, printed on the shop front glazing, GUC-CI “,” VERSACE “” GIVENCHY “and other big international line, quite inhalation attention.

　　Operating a “GUCCI”, Dior and other luxury brand boutiques, the staff said, the channel is limited, the products of the store and not through direct sales channels procurement can only be authorized licensing company, so the product is relatively simple, cargo speed can not be compared with the outlets. However, due to the downtown area is located in the “Intime district”, where there are still many customers home.

　　”The demand for luxury goods in Yiwu, if there is a slightly better way, and sales platform from which to dig the pot of gold is not difficult.” Insiders said the rapid increase in Yiwu demand for luxury goods and international brands too busy to worry about county-level cities Yiwu, boutiques rely on taking the “edge ball” line, or some room for development.