Gems and Jewellery Industry in India

As of 2022, India ranks first among the top exporters in cut & polished diamonds, and second in gold jewellery, silver jewellery, and lab-grown diamonds.

Advantage India

Growing
Demand

* In FY24, India’s gems and jewellery exports reached US$ 32.02 billion, while in April 2024 gems and jewellery stood at US$ 2.07 billion.​

* In 2022, India ranks first among the top exporters in cut & polished diamonds, and second in gold jewellery, silver jewellery and lab-grown diamonds.​

Growing Demand

Increasing
Investments

* In September 2023, Malbar Group invested Rs. 1,000 crore (US$ 120 million) by 2025.​

* Cumulative FDI inflows in diamond and gold ornaments in India stood at US$ 1,276.52 million between April 2000-March 2024.​

Increasing Investments

Policy
support

* The Government has permitted 100% FDI under the automatic route** in this sector.​

* The sector now has AEO status from the finance ministry, easing export-import processes with quicker cargo release, 50% lower bank guarantees.​

Policy Support

Attractive
Opportunities

*It is expected to break out of this range and rise to between 800 and 900 tons in 2024​.

*Total FDI Equity inflows in Indian G&J Sector grew by around 15% to US$ 25.50 million during 2022-2023 in comparison to last year​.

Attractive Opportunities
Last updated: Jul, 2024

Major Hubs for Gems and Jewellery

  • Surat
  • Mumbai
  • Jaipur
  • Thrichor
  • Nellore
  • Delhi
  • Hyderabad
  • Kolkata

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