Gem And Jewellery Export From India

September 25, 2018

Introduction

The Indian Gems and Jewellery (G&J) sector is one of the largest in the world, contributing around 29 per cent to the global jewellery consumption. The sector employs over 4.64 million employees and is home to over 300,000 gems and jewellery players. The sector contributes 7 per cent to the Gross Domestic Product (GDP) of the country. India’s exports of cut and polished diamonds, gold jewellery and gem stones are forecasted to grow around 10 per cent year-on-year in FY19 according to Gems and Jewellery Export Promotion Council (GJEPC).

Indians have always been connoisseurs of precious stones and ornaments. Trade secrets of the jewellery business have been handed down over generations, ensuring continuity of traditional craft. Thus, India is today the world’s largest diamond cutting and polishing centre. India has been adding modern techniques to its traditional know how that are more in tune with global market trends.

Key highlights

India is the most preferred country in terms of gems and jewellery export. The facts listed below give us an idea of India’s position on the global gems and jewellery export map. Indian gems and jewellery are exported across continents.

India is the world’s second largest gold consumer.

India’s diamond exports ranked second in the world valued at US$ 18.1 billion which accounted for 15.3 per cent of the global diamond exports in FY17

India’s top export destinations for gems and jewellery are U.S, Europe, Japan and China. US accounts for nearly one-fourth of the country's total gems and jewellery exports.

Net Gems and Jewellery exports from India for 2017-18 stood at US$ 40.98 billion, whereas in April 2018 the exports were valued at US$ 2.58 billion.

Exports of cut and polished diamonds grew by 4.17 per cent to $23.74 billion in 2017-18.

Gold jewellery shipments went up about 11 per cent to $9.67 billion in 2017-18.

GEM AND JEWELLERY EXPORT PROMOTION COUNCIL

The Gem and Jewellery Export Promotion Council (GJEPC) undertakes direct promotional activities, including joint participation in international jewellery shows, sending and hosting trade delegations, and sustained image-building exercises.

The domestic Gems and Jewellery market is expected to grow at a rate of compound annual growth rate (CAGR) of 13 per cent to US$ 80-85 billion mark by 2018

The Gem & Jewellery Export Promotion Council

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