Indian Gems and Jewellery Industry
Indian Gems and Jewellery Industry
The early people made jewelry not only for humans but also for the
gods and decorating animals like elephants and horses, on special
occasions.
INDIAN SCENARIO
Till 1725, India was the only producer of diamonds in the world.
India does not contribute much to the world market in terms of rough
diamonds.
India is already the largest diamond cutting and polishing centre in the
world.
The Indian diamond cutting and polishing industry enjoys 60 per cent
value share, 82 per cent carat share and 95 per cent share of the world
market in terms of number of pieces.
Nearly 9 out of 10 diamonds sold worldwide are cut and polished in
India.
Large market for Gems & Jewellery with domestic sales of over $10
billion.
4% of the global Gems and Jewellery market .
Exports of over $15.5 billion; over 18% of India’s exports.
PRODUCTION CENTRES
• From historic times, gold has played a pivotal role in the Indian social
fabric.
HONG KONG is the largest importer of Indian Cut and Polished Diamond
worth USD 5,484.68 MILLION in 2009-10.
UAE is the second largest importer with USD 5,340.13 MILLION in 2009-
10.
India imports most of the cut and polished diamond from Belgium. In 2009-
10, the worth was USD 4,556 million.
Jewellery
• The Indian jewellery market is one of the largest in the world, with a
market size of $13 billion. It is second only to the US market of $ 40
billion and is followed by China at $11 billion.
• The gold jewellery market is growing at 15 per cent per annum and
the diamond jewellery market at 27 per cent per annum.
The largest exporter of Indian Gems and Jewellery is UAE with export
worth USD 12,524 million in 2009.
Hong kong follow UAE with export worth USD 6,253 million in 2009.
USA is the third largest exporter with USD 4,740 million in 2009.
QUALITY STANDARDS
The hallmark is only applied after the item has been assayed to determine
that its purity conforms not only to the standards set down by the law but
also and with the maker’s claims as to metallurgical content.