In India, jewellery has been equated with wealth, and saving is considered a
part of traditional lifestyle. Gems and jewellery have been promoted more as an
aspirational lifestyle rather than investment. No wonder India is one of the
biggest markets for this industry.
The Indian gems and jewellery sector has become one of the most important sectors in the past few years. It has been one of the fastest growing segments, with an annual growth rate of approximately 13 percent. The domestic market stands at USD 31 billion in 2013, and is expected to grow to USD 57 billion by 2018.
The sector is involved in sourcing, manufacturing and processing raw materials. The processing includes cutting, polishing and selling precious gemstones. The two major segments in this industry are gold and diamond.
Gold jewellery forms around 80 percent of the Indian ornaments market. The rest comprises diamonds and gemstone-studded jewellery. Thanks to supportive government policies, the country is also the world's largest cutting and polishing centre for diamonds. About 50 banks provide almost USD 3 billion of credit to the Indian diamond industry.
India has the benefit of both having abundant skilled labour and a history of exquisite craftsmanship. Faberge, an international brand known for its be-jewelled eggs, exports most of its raw materials to India and the cutting is mostly done in Jaipur, Rajasthan. Both the g
2. Market Size
3. Market Segmentation
4. Import Scenario
4.1 Imports from Major Countries of Gems and Jewellery
4.2 Components of Imported Gems and Jewellery
5. Export Scenario 5.1 Export from Major Countries of Gems and Jewellery
5.2 Components of Gems and Jewellery Exported
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