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

* India’s gems and jewellery exports reached US$ 39.14 billion in 2021-22, a 54.13% rise from the previous year.

* 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

* Cumulative FDI inflows in diamond and gold ornaments stood at US$ 1,213.05 million between April 2000-March 2022.

* 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

* 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. 

Policy Support

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.

Attractive Opportunities
Last updated: Dec, 2022

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 Cent...

India Organic Biofach 2022

India Organic Biofach 2022

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

Case Studies

MORE

Growth and Expansion of India’s Edtech Industry

Growth and Expansion of India’s Edtech Industry

Education has always been a prominent sector in the development and growth of India, and the government has always been focused on implementing polici...

Rise of the Indian Aviation Market

Rise of the Indian Aviation Market

India has become the third-largest domestic aviation market in the world and is expected to overtake the UK to become the third-largest air passenger ...

India's Agritech Ecosystem

India's Agritech Ecosystem

Agriculture plays a crucial role in developing India's economy. According to Census 2011, almost 54.6% of the country's workforce is engaged i...

IBEF BLOG

MORE
Asset Monetisation: Unlocking Capital for Infrastructure Development
23 Mar 2023

Asset Monetisation: Unlocking Capital for Infrastructure Development

Introduction The Government of India's objective of making India a US$...

Agriculture 4.0: Future of Indian Agriculture
23 Mar 2023

Agriculture 4.0: Future of Indian Agriculture

Overview of Agriculture in India Agriculture plays a significant role in I...

ONDC to present opportunities to India’s local retailers
13 Mar 2023

ONDC to present opportunities to India’s local retailers

Introduction India is the world's second-largest digital economy in te...

Partners
Loading...