Trade Analytics
Gems and Jewellery
India exported 75 per cent of the world’s polished diamonds in 2017.

Gems and Jewellery Industry Analysis

Latest update: June, 2018

  • UAE, US, Russia, Singapore, Hong Kong, Latin America and China are the biggest importers of Indian jewellery.
  • Net exports of gems and jewellery from India rose at a compound annual growth rate (CAGR) of 7.06 per cent between FY05 and FY17.
  • The net exports rose from US$ 15.66 billion in FY2004-05 to US$ 35.51 billion in FY 2016-17
  • US, Hong Kong and UAE accounted for 75 per cent of the total gems and jewellery exports from India during FY 2016-17.
  • The exports stood at US$ 30.67 billion between April 2017-February 2018.
  • Exports of gold coins and medallions stood at US$ 1,899.82 million and silver jewellery export stood at US$ 3,332.95 million during April 2017-February 2018.
Growth

Notes: * - Data from April-February 2018, CAGR – Compound Annual Growth Rate till FY 2017
Source: GJEPC, Media sources

  • India’s exports 93 per cent of its cut and polished diamonds produced.
  • India exports 75 per cent of the world’s polished diamonds.
  • India’s exports of cut and polished diamonds rose from US$ 11.16 billion in FY2004-05 to US$ 22.78 billion in FY 2016-17, thereby registering a compound annual growth rate (CAGR) of 6.13 per cent.
  • India exported US$ 21.71 billion worth of cut and polished diamonds between April 2017-February 2018.
  • An international diamond exchange will be set up in Surat in the next 36 months at a cost of Rs 2,400 crore (US$ 369.1 million). This will enable the fragmented and unorganised diamond polishing and trading industry to organise itself at one place.
  • The Indian Commodity Exchange (ICEX), backed by the Anil Ambani Group has launched the first ever futures contract for diamonds in the world, to create many new opportunities for diamond players.
Growth

Notes: * - Data from April-February 2018, CAGR – Compound Annual Growth Rate till FY 2017
Source: GJEPC

Last Updated: June, 2018

India's gems and jewellery sector is one of the largest in the world contributing 29 per cent to the global jewellery consumption. The market size of the sector is about US$ 75 billion as of 2018 and is estimated to reach US$ 100 billion by 2025. The sector is home to more than 300,000 gems and jewellery players, contributes about 6-7 per cent to India’s Gross Domestic Product (GDP) and employs over 4.64 million employees.

India's gems and jewellery sector contributes about 15.71 per cent to India’s total merchandise exports. The overall net exports of gems and jewellery stood at US$ 32.71 billion during FY18 registering a compound annual growth rate (CAGR) of 5.83 per cent over FY05; whereas gems and jewellery imports increased at a CAGR of 7.97 per cent from US$ 11.63 billion in FY05 to US$ 31.52 billion in FY18.

India is the largest manufacturer of cut and polished diamonds in the world and exports 75 per cent of the world’s polished diamonds. Today, 12 out of 14 diamonds sold in the world are either polished or cut in India. India exported US$ 1.99 billion worth of cut and polished diamonds on April 2018.

India is the largest consumer of gold in the world. Rising middle class population and increasing income levels are the key drivers for the demand of gold and other jewellery in India. Gold demand in India rose 11 per cent year-on-year to 737.5 tonnes in 2017. Also, the Government of India has permitted 100 per cent Foreign Direct Investment (FDI) in the sector under the automatic route. The Bureau of Indian Standards (BIS) has revised the standard on gold hallmarking in India from January 2018, to include a BIS mark, purity in carat and fitness as well as the unit’s identification and the jeweller’s identification mark on gold jewellery. The move is aimed at ensuring a quality check on gold jewellery. The Government of India launched the Gold Monetisation Scheme to reduce the country’s reliance on gold imports to meet the domestic demand.

Indian Gems and Jewellery Industry Report (June, 2018)

Download PDF   Download  (Size: 1.34 MB )

Indian Gems and Jewellery Industry Report (May, 2018)

Download PDF   Download  (Size: 1.34 MB )

Click to access the Gems and Jewellery Industry Archived Report

Gems and Jewellery

Gems and Jewellery India
 

Posters

The global launch of
Brand India Pharma,
CPhI Japan-Tokyo,

Brand India Pharma

IBEF Publications

IBEF Publication

India Now Magazine


The Luxe Edge - Reshaping India's Lifestyle Choices

English

+ More Publications >

IBEF Publication

IBEF Blog - INDIA ADDA – PERSPECTIVES ON INDIA More

author_Mr_Vinay_Kalantri_Founder_MD_The_Mobil_Wallet-21.jpg "India has always had a business community not averse to risk-taking"
Vinay Kalantri, Founder and Managing Director, The Mobile Wallet

Interview with Vinay Kalantri, Founder and Managing Director, The Mobile Wallet

Founder and Managing Director of The Mobile Wallet, Vinay Kal...

author_logo-ibef1.jpg Indian fintech start-ups: At the right place, at the right time!
IBEF, Knowledge Centre

Fintech, i.e. the technology that enables banking and financial services, is a very fast growing space in India, especially for the start-up domain. Fintechs are offering...

author_logo-ibef1.jpg India: The land of technology-led start-ups!
IBEF, Knowledge Centre

The Indian technology start-up domain is proudly placed at the fourth largest position in the world. The industry was sized at US$ 35 billion in FY18. Last decade saw eme...

author_logo-ibef1.jpg India: Weaving million success stories!
IBEF, Knowledge Centre

Textiles have been one of the oldest and largest industries in India historically, second only to agriculture, and it generates jobs for millions of people. The current e...

author_Varun-Aggarwal-headshot1.jpg Leading science and technology: The opportunity and the challenges for India
Varun Aggarwal, co-founder and Head of Research, Aspiring Minds | Author of 'India Next'

Today is the most opportune time for India to revolutionise its science and technology ecosystem. The size of our economy provides the capital, manpower and market to inv...

author_Erich-Nesselhauf-MD-CEO-DICV1.JPG "We always firmly believed in the Make in India initiative. We're probably one of the most successful poster examples..."
Erich Nesselhauf, MD & CEO - Daimler India Commercial Vehicles

Daimler India Commercial Vehicle has been able to create a space for its offerings in the already crowded domestic commercial vehicle market. Erich Nesselhauf, MD & C...

ideas More

Ideas

Zuper: Dynamic Disruptor
Zuper is a B2B Software as a Service (SaaS) offering for organizations, irrespective of shape and size. It is the first in Asia to offer voice biometrics-based timesheet management of workforce. Zuper offers an end to end platform to bring together the power of people, process, product and promise. ...

JOIN IBEF.org

Join IBEF.org now. Enjoy FREE subscriptions downloads, updates and more.

Error

Already a member?
Login / Retrieve Password