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

* India’s gems and jewellery exports reached US$ 37.73 billion in 2022-23.

* 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

* The total foreign direct investment (FDI) inflows in the gems and jewellery sector during 2021-22 stood at US$ 58.77 billion.

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

Increasing Investments

Policy
support

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

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

Policy Support

Attractive
Opportunities

* India’s gold demand will witness a sharp upswing to top 800 tonnes in 2023.

* In the fourth quarter of 2022 demand for gold rose stood at 219.7 tonnes.

* The FDI inflows in the gems and jewellery sector increased by 60.78% in FY22 on a year-over-year basis.

Attractive Opportunities
Last updated: Oct, 2023

Major Hubs for Gems and Jewellery

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

Posters

MORE
CHASING THE SPARKLE

CHASING THE SPARKLE

India is the world's largest consumer of diamonds.

IBEF Campaigns

MORE
Gulfood Dubai 2023

Gulfood Dubai 2023

APEDA India Pavilion Gulfood February 20th-26th, 2022 | World Trade Centre,...

India Organic Biofach 2022

India Organic Biofach 2022

Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...

Case Studies

MORE

Electric Vehicles Driving Sustainable Mobility In India

Electric Vehicles Driving Sustainable Mobility In India

Sustainable mobility (electric mobility) contributes to a significant role in the economic development of a nation and supports the improvement of the...

The emergence of India as a Global startup hub

The emergence of India as a Global startup hub

In recent years, India has rapidly emerged as a global powerhouse in the startup ecosystem. With a vibrant entrepreneurial spirit, a massive pool of s...

Impact of 5G Technology on Indian Industries

Impact of 5G Technology on Indian Industries

A surge of disruptive opportunities has been sparked throughout the world as a result of the quick and broad adoption of 5G technology. India, one of ...

IBEF BLOG

MORE
The transformation of the Transportation and Logistics Industry
22 Nov 2023

The transformation of the Transportation and Logistics Industry

Logistics Industry is crucial to both enterprises and the economy. In ...

Lithium-ion battery (LIB) manufacturing industry in India
22 Nov 2023

Lithium-ion battery (LIB) manufacturing industry in India

Energy storage technologies are predicted to play a major part in the decar...

Digital Advertising in India
10 Nov 2023

Digital Advertising in India

With its developing economy, India provides advertisers with several opport...

Partners
Loading...