Gems and Jewellery Industry in India

India's gems and jewellery market contributed around 7% to GDP and 10-12% share in the total merchandise exports.

Advantage India

Growing
Demand

* From April 2021-January 2022, India’s overall exports of gems grew at 69.13% YoY to US$ 32.37 billion.

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

Increasing
Investments

* The cumulative foreign direct investment (FDI) inflows in diamond and gold ornaments stood at US$ 1,194.00 million between April 2000 and June 2021.

* In September 2021, Malbar Group invested Rs. 750 crore (US$ 100 million) in a gold refinery and jewellery unit in Hyderabad.

Policy
support

* India has signed an FTA with the UAE which will further boost exports and is expected to reach the target of US$ 52 billion.

* The Government has reduced custom duty on cut and polished diamond and colored gemstones from 7.5% to 5% and NIL. 

Attractive
Opportunities

* India’s gold demand stood at 797.30 tonnes in 2021 and is expected to be in a range of 800-850 tonnes by 2022.

* In the fourth quarter of 2021 demand for gold rose by 93% YoY to 265 tonnes.

Last updated: May, 2022

Major Hubs for Gems and Jewellery

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

Posters

MORE

CHASING THE SPARKLE

India is the world's largest consumer of diamonds.

IBEF Campaigns

MORE
Experience India - Dubai Expo 2020

Experience India - Dubai Expo 2020

From the small towns and districts of India come the big-hearted artists wh...

Geographical Indicators of India

Geographical Indicators of India

The Geographical Indications Registry is set up for administration of the G...

Case Studies

MORE

India's Climate Vision

India's Climate Vision

Climate change and global warming are the biggest threats of the present time and how the world manages to control pollution will define our future. R...

Gati Shakti Programme

Gati Shakti Programme

Infrastructure is crucial to the development of any economy. Roads, railways, airways, and waterways enable connectivity with the outside world, facil...

DIGITAL PAYMENTS AND THEIR IMPACT ON THE INDIAN ECONOMY

DIGITAL PAYMENTS AND THEIR IMPACT ON THE INDIAN ECONOMY

India has a huge potential for digital payments. As of October 2021, the country had around 1.18 billion mobile connections, 700 million Internet user...

IBEF BLOG

MORE
India – Global hub of Therapy
18 May 2022

India – Global hub of Therapy

Introduction India has one of the oldest healthcare systems in the world, ...

India's AR/VR Market
18 May 2022

India's AR/VR Market

Introduction Advanced technology is gaining prominence across the globe, e...

India's Energy Transition and Innovation Collaboration
11 May 2022

India's Energy Transition and Innovation Collaboration

Introduction The global coal power generation nearly doubled during 2005&n...

Loading...