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Gem And Jewellery Industry and Exports

Last Updated: November, 2021

Introduction

The Indian Gems and Jewellery sector is one of the largest in the world, contributing around 29% 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% to the Gross Domestic Product (GDP) of the country.

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 knowhow that are more in tune with global market trends.

Key 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.
  • The total gems and jewelry export accounted for US$ 16.06 billion from April 2021 to August 2021.
  • In FY21, the total gems and jewelry export accounted for US$ 26.02 billion, and for March 2021 it was US$ 3.61 billion.
  • In August 2021, India exported US$ 3.43 billion worth of gems and jewelry as compared to US$ 1.82 million in August 2020.
  • The overall net export of gems and jewellery stood at US$ 29.01 billion in FY20.
  • India exported US$ 18.66 billion worth of cut and polished diamonds in FY20P. It contributed 64% to the total gems and jewellery export.
  • India’s top export destinations for gems and jewelry are US, Europe, Japan and China. US accounts for nearly one-fourth of the country's total gems and jewelry export.
  • The Government of India is aiming at US$ 80 billion in jewellery export over the next five years from 2019.

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:

  • Directorate General of Commercial Intelligence and Statistics
  • Press Information Bureau

Net Gems and Jewellery exports from India stood at US$ 27.44 billion in FY20 (till February 2020).  

Source:
The Gem & Jewellery Export Promotion Council (GJEPC)

Other Export Promotion Councils:

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

Gems and Jewellery

Office No. AW 1010, Tower A
G Block, Bharat Diamond Bourse,
Bandra - Kurla Complex
Bandra – East, Mumbai
Maharashtra
India

Tel.:+91-22-26544600
Fax: +91-22-26524764
Email: ho@gjepcindia.com
Website: www.gjepc.org

Net Gems and Jewellery exports from India stood at US$ 27.44 billion in FY20 (till February 2020).  

Source:
The Gem & Jewellery Export Promotion Council (GJEPC)

Exports

Gem and Jewellery