Trade Analytics
Gems and Jewellery
Indian gem and Jewellery industry contributed US$ 39.9 billion in terms of foreign exchange earnings in FY 2014-15.

Gems and Jewellery Industry Analysis

Latest update: April, 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.

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

Growth
  • 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.

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

Growth

Last Updated: April, 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$ 41.62 billion during FY18 registering a compound annual growth rate (CAGR) of 7.81 per cent over FY05; whereas gems and jewellery imports increased at a CAGR of 15.37 per cent from US$ 11.63 billion in FY05 to US$ 74.61 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$ 21.71 billion worth of cut and polished diamonds between April 2017-February 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 9.13 per cent year-on-year to 726.9 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.

Sectoral Presentation (April, 2018)

Download PDF   Download  (Size: 1.34 MB )

To access Archived reports, please click here

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


Rural India

English

+ More Publications >

IBEF Publication

IBEF Blog - INDIA ADDA – PERSPECTIVES ON INDIA More

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...

author_GhanshyamLalVyas1.jpg Expanding horizons - Making it easier for Indian exporters to reach new markets!
Ghanshyam Lal Vyas, General Manager-Government Inspections and International Trade, TUV Rheinland India

TUV Rheinland India is a subsidiary of the TUV Rheinland Group, Germany. As part of the India, Middle East, Africa & Asia Pacific Group, it caters to the Indian marke...

author_logo-ibef1.jpg India hosts Informal WTO Ministerial Meeting
IBEF, Knowledge Centre

India hosted the Informal WTO Ministerial Meeting is being held in New Delhi on 19-20 March 2018. India is one of the founding Members of the World Trade Organization. Th...

author_Siddartha-Sacheti-Jaipur-Gems-CEO.jpg "Indian jewellers, especially those with heritage, have massive potential as brands themselves"
Mr Siddhartha Sacheti, CEO - Jaipur Gems

Jaipur Gems is one of India's largest producers and exporters of gems and jewellery. It has an international presence via retail stores, and has won multiple internat...

ideas More

Ideas

Between the Covers
The shift from buying books at traditional book stores to buying books online is posing a threat to the publishing industry. In 2009, one publisher named Ralph Möller realized that the Internet is where the users are. With an initial investment of €25,000 (Rs 1.84 million) and the motivation to find new..

JOIN IBEF.org

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

Error

Already a member?
Login / Retrieve Password