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.
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.
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.
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MOREMajor Hubs for Gems and Jewellery
- Surat
- Mumbai
- Jaipur
- Thrichor
- Nellore
- Delhi
- Hyderabad
- Kolkata
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