Introduction
The gems and jewellery industry of India contributes 7% to the Gross Domestic Product (GDP). The industry employs about 5 million people in the country. The sector contributes about 10-12% of India’s total merchandise exports.
India majorly exports cut & polished diamonds, lab-grown synthetic diamonds, coloured gemstones, synthetic stone, plain and studded gold jewellery, silver & platinum jewellery, imitation jewellery and articles of gold, silver and others.
Export Trend
Indian gems and jewellery exports account for about 3.5% of the world’s total exports. The country is ranked first in cut & polished diamonds and silver jewellery exports in the world.
Export Destinations
India exports gems and jewellery to the US, Hong Kong, UAE, Belgium, Israel, Thailand, Singapore, the UK, Netherlands, Japan, etc. The US is the largest importer of Indian jewellery with the 2021-22 imports valued at US$ 14.5 billion. Hong Kong and UAE were among the largest export destinations for India at US$ 9.3 billion and US$ 5.7 billion in exports during 2021-22.
Government Initiatives
The Government of India has recently laid out four steps to grow the gems and jewellery industry in the country. The focus is to be given to the creation of patented designs to increase value, diversification of the exported products, collaborate with other nations for cost-effective methods and promotion of lab-grown diamonds. In addition to this, the GJEPC arranges several trade shows, buyer-seller meets and expositions to increase the exposure of Indian goods.
Government Body
Gems and Jewellery Export Promotion Council (GJEPC)
The GJEPC was formed in 1966 and has over 7,500 members associated with it to date. The objectives and roles of the council are promoting the brand India, connecting government and trade, upholding diamond integrity, spreading education, innovation and infrastructure, etc.
RELATED SITES
Office No. AW 1010, Tower A
G Block, Bharat Diamond Bourse,
Bandra - Kurla Complex
Bandra – East, Mumbai
Maharashtra
India
Tel.:+91-22-26544600
Fax: +91-22-26524764
Email: ho@gjepcindia.com
Website: www.gjepc.org
