Gems & Jewellery

India's gems and jewellery market contributed around 7% to GDP and 10-12% share in the total merchandise exports

overview
strengths
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agencies

Department of Commerce

India’s overall exports of gems grew at 69.13% YoY to US$ 32.37 billion in January 2022

7.5%

Contribution to GDP

14%

Contribution to total merchandise exports

8.23 mn

people hired in this sector

100%

FDI in the sector under the automatic route

US$ 78.50 bn

market size

US$ 32.37 bn

Overall exports of gems

US$ 70 billion

Projected valuation of jewellery export

US$ 1,213.06 mn

Cumulative FDI inflows in diamond and gold ornaments between April 2000 and June 2022

FTA

Signed between India and UAE

7.5%

Import duty for Gold & Silver

Revised SEZ Act

Expected to boost exports of gems and jewellery

BIS Hallmarking Scheme

The BIS Hallmarking Scheme has been aligned with International criteria on hallmarking (Vienna Convention 1972).

Gold Monetization Scheme, 2015

GMS is intended to mobilise gold held privately to facilitate its use for productive purposes, and to reduce country’s reliance on the import of gold.

Sovereign Gold Bond Scheme

The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

GST Benefits to Gems and Jewellery

Diamonds including lab grown diamonds-semi processed, half-cut or broken; non-industrial diamonds including lab-grown diamonds (other than rough diamonds), including cut and polished diamonds to com under the benefits.

Gem & Jewellery Export Promotion Council

91 22 26544600

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The GJEPC is the apex body of the gems & jewellery industry, representing almost 6,000 exporters in the sector.

Gemological Institute of America

+91 22 4085 1500

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GIA has been serving the Indian gem & jewellery industry since 2004.

Bharat Diamond Bourse

+91 22 3392 1500

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With over 4,000 members engaged in import and export, BDB is engaged in manufacturing and marketing of rough and polished diamonds.

Bureau of Indian Standards

23232171

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The Product Certification Schemes of BIS aims at providing third party assurance of quality, safety and reliability of products to the customer.

Federation of Indian Export Organisations

+91-11-46042222, 26150101-04

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The Federation of Indian Export Organisations represents the Indian entrepreneurs spirit of enterprise in the global market.

Department of Commerce

Investment Opportunities

Gems & Jewellery employs over 4.6m workers and is expected to employ 8.2m by 2022.
Investment in setting up gems and jewellery parks to expand participation in value chain.
Expansion of capacity from processing gems to designing and making jewellery items.
Opportunities in commercialisation of India's traditional jewelry designs and techniques.

Key Investors

India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive and capital establishments

UK’s De Beers Group invested US$5m in a Surat based diamond grading company

Alrosa, a Russian diamond mining company, has set up a base in India.

UK's Petra Diamond gets its stones processed from centers in India.

ENABLING ENVIRONMENT

India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive, and capital establishments