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Gem And Jewellery Industry

 
Gem And Jewellery Industry In India

The Indian Gems and Jewellery (G&J) sector is one of the largest in the world, contributing around 29 per cent to the global jewellery consumption. The sector employs over 4.64 million employees and is home to over 300,000 gems and jewellery players. The sector contributes 7 per cent to the Gross Domestic Product (GDP) of the country. India’s exports of cut and polished diamonds, gold jewellery and gemstones are forecasted to grow around 10 per cent year-on-year in 2018-19 according to Gems and Jewellery Export Promotion Council (GJEPC).

Indians have always been connoisseurs of precious stones and ornaments. Trade secrets of the jewellery business have been handed down over generations, ensuring continuity of traditional craft. Thus, India is today the world’s largest diamond cutting and polishing centre. India has been adding modern techniques to its traditional know how that are more in tune with global market trends.

Export Highlights

India is the most preferred country in terms of gems and jewellery export. The facts listed below give us an idea of India’s position on the global gems and jewellery export map. Indian gems and jewellery are exported across continents.

  • India is the world’s second largest gold consumer.
  • India’s diamond exports ranked second in the world valued at US$ 23.82 billion in 2018-19.
  • In 2018-19, the net exports of gems and jewellery stood at US$ 30.96 billion
  • India’s top export destinations for gems and jewellery are US, Europe, Japan and China. US account for nearly one-fourth of the country's total gems and jewellery exports.

Gem and Jewellery Export Promotion Council

The Gem and Jewellery Export Promotion Council (GJEPC) undertakes direct promotional activities, including joint participation in international jewellery shows, sending and hosting trade delegations, and sustained image-building exercises.

 
 
Source: India Brand Equity Foundation


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