* 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.
* 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.
* 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.
* 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.
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