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$ 39.45 billion in 2021-22, a 54.68% rise from the previous year.

* In 2021, India ranked the first among the top exporters in cut & polished diamonds and lab grown diamonds, fourth in gold jewellery, and second in silver jewellery.

Growing Demand

Increasing
Investments

* The cumulative foreign direct investment (FDI) inflows in the gems and jewellery sector stood at US$ 1,213 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

* 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 stood at 774 tonnes in 2022.

* 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: Apr, 2023

Major Hubs for Gems and Jewellery

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

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