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$ 26.35 billion during April 2023-January 2024.

* 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 US$ 120 million (Rs. 1,000 crore) by 2025.

* Cumulative FDI inflows in diamond and gold ornaments in India stood at US$ 1,270.63 million between April 2000-December 2023.

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

* 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: May, 2024

Major Hubs for Gems and Jewellery

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

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