This action might not be possible to undo. Are you sure you want to continue?
Gems and Jewellery have been a part of the Indian civilization since its recorded history, the significance of the gems and Jewellery industry in the Indian economic scenario is a development of the last three or four decades. In 1966-67, the export turnover of the Gems & Jewellery industry was just Rs 220 million representing a 3 per cent of total merchandise exports. However, it has now grown to become one of the leading export oriented industries in India recording an export turnover of around Rs 91617.53 Crores during 2008-09, making it a significant foreign exchange earner for the country. The gems and jewellery sector, which has seen a substantial fall in exports since 2007 due to the withdrawal of a 6 per cent duty concession under the Generalized System of Preferences on jewellery exports to the US, has been severely affected by the economic meltdown. As a result, India’s share of gems and jewellery exports to the US has come down from 36 per cent in 2006 to 20 per cent in 2009. The UAE was the largest importer of gems and jewellery from India in 2008-09, with a share of 31 per cent. This was followed by Hong Kong with a 25 per cent and the US with 20 per cent. The gems and jewellery sector accounted for 13 per cent of India’s total merchandise exports. During April 2009, the total gems and jewellery exports of the country was $1,144 million, as against $1,740 million during the same period last fiscal, a fall of about 34 per cent.
The gems and jewellery sector can be categorized into the following sub-sectors based on characteristics, processing techniques, preciousness in terms of price range and marketability.
• • •
Gemstones - Diamonds and coloured stones (precious, semi-precious and synthetic) Jewellery - Plain Gold, Studded, Silver, Costume Pearls
The global market for gems and jewellery today is pegged at US$ 85 billion with key markets having registered an average compounded annual growth rate (CAGR) of 5-10 per cent in the last decade.
The global market for Gold is estimated at 3300 tonnes. South Africa is the world’s largest producer of gold, followed by U.S.A and Australia. Together, these countries account for 45 per cent of the world’s total gold production. India is the largest consumer of gold, followed by the U.S.A.
In the production of Silver, the Americas have near monopoly - Mexico, Peru and the United States are the top three silver producing countries. Platinum is an extremely rare precious metal. More than 90 per cent of all platinum supplies come from South Africa and Russia. With increased economic development, the demand for the metal has grown at a faster pace than it is being mined. The United States is the world’s leading consumer of platinum overall, while China has emerged as the leading consumer of platinum jewellery.
India is fast emerging as a leading destination for jewellery manufacturing in the world. increasing competition. studded jewellery • China and Hong Kong are strong in both gold and Thailand • Major global supplier of quality jewellery over the last two decades. changing customer preferences and developments in technology in several areas. with about 8. Emergence of different materials – different alloys within gold.200 factories annually producing an estimated US$ 6. at home. the sheer size of • Thailand’s strength is in gemstone jewellery. The global jewellery industry is being transformed by a few key trends such as: • • • • Increasing competition among top producing countries.4 billion worth. In this context. as well as non-gold jewellery. Hong Kong/China • Produces a substantial portion of the world jewellery market• • Italy’s strength lies in plain gold jewellery. Italy • World’s largest producer of fine jewellery. Emergence of new manufacturing techniques. United States • While a growing number of American manufacturers export their goods around the domestic market keeps a large portion of the goods Over the years.Jewellery manufacturing is traditionally dominated by players from 3-4 countries. Requirement of stricter quality norms and hallmarking. The following sections discuss India’s gems and jewellery sector in detail with a specific focus on the following areas: • • Significance of India within the global gems and jewellery sector The structure and current scenario of the sector in India . the world. global markets have been impacted by several developments like falling trade barriers.
mainly because of abundant availability of skilled and cheap labor. It is a leading foreign exchange earner and also one of the fastest growing industries in the country. The colonial status given to India by the British crippled the economy which once boasted of its wealth in gold.• • India’s competitive advantages in the sector Future outlook INDIA AND “GEMS AND JEWELLERY” India has been one of the most important countries for the production of Gems And Jewellery. India is viewed as the largest consumer of gold in recent times. the country has niche for itself in machine made commercial jewellery arena. the Gold reserves in India gradually diminished. According to the figures presented by the estimates of the World Gold Council (WGC). Indian Gems and Jewellery Industry have achieved a premier position in the International market. India's total demand for gold in the year 2001 was 243. One of the highlights is the production of Studded Jewllery. But at the same time. As a result a major proportion of India's Gold Reserves was 'vanishing' without even entering into the economy. Thailand and Sri Lanka. India was never in dearth of Gold Reserves. after entering the country. Studded Jewellery trading in India is age old as it is established by the fact that in 1650 A. after several decades have gone by India has finally started to fill up the vacuum in a big way. History had been a witness of the fact that India was always self sufficient in all its natural resources and more so in case of gold. It was this abundance in availability of such precious metals that lured foreign invaders from all parts of the globe as well as from time to time to come to India and plunder as much of it as was possible for them to do. Today India has been recognized as a significant manufacturing exporting centre apart from its traditional strengths in handmade jewellery. By the time India gained independence.. Looking at the evolution of the Indian Gold Market. . Today though India has almost no raw Studded Jewllery left within her own soil still we produce 70% of the World gems in terms of quantity and 45% in terms of value. India is the original country which discovered gems and initiated gem craft. a huge vacuum had already been created as far as Gold Reserves in India was concerned. India is being recognized as one of the fastest emerging economies of the world. Huge quantities of the precious metals were carried to England right after their extraction. Gearing up to achieve further growth. where they dug and washed the precious stones. fell for the land and its cultural heritage which eventually led them to settle and establish their empire in India. The export industry has come of age and is now entering a new phase of development. Slowly.D.2 tonnes which comprised 26. the industry has already captured a 55% share of world market by the turn of this century. sources report the employment of more than 60.000 workers in the Eluru mines. India's growing prospects can also be noticed in the gold market as well. India is a leading player in the global gems and jewellery market The gems and jewellery industry occupies an important position in the Indian economy.2 % of the total world demand. However there were a significant number of such intruders who. After reaching a new height in the form of 8 % growth in Gross Domestic Product (GDP) for the year 2005-06. India has managed to keep its position healthy and have brighter prospects ahead. but now this no longer remains the competitive edge for India as heavy competition is faced by various countries like China. The gems produced here gave birth to a fabulous industry and global trade. India is a primary source of imports for the developed countries. The arrival of the British in the hierarchy in the middle of the eighteenth century announced the decline of India's Gold Reserves even further. As an inevitable consequence of the lavish livelihood exhibited by the Indian rulers.
With strength of 6.000 offices worldwide for promotion and marketing of Indian diamonds. This apex body of the gem & jewellery industry has played a significant role in the evolution of the Indian gem and jewellery industry to its present stature. employing around 800. India has set up more than 3. GJEPC is continuously working towards creating a pool of artisans and designers trained to international standards so as to consolidate the Indian jewellery industry and establish it as a prominent global player in the jewellery segment. the GJEPC has over the years effectively moulded the scattered efforts of individual exporters to make the gem and jewellery sector a powerful engine driving India's export-led growth. The Indian diamond industry has acquired leadership position in cutting and polishing of rough diamonds.000 people (constituting 94 per cent of global workers) with more than 500 hi-tech laser machines. rates of import duties. Besides being the largest consumer of gold. either in the form of polished diamonds or finished diamond jewellery.The two major segments of the sector in India are gold jewellery and diamonds.around 50 banks provide nearly US$ 3 billion credit to Indian diamond industry. uncut diamonds processed in India is exported. India is also the leading diamond – cutting nation in the world. with the balance comprising fabricated studded jewellery that includes diamond studded as well as gemstone studded jewellery. however. which has been established over a period of time. India has the world’s largest cutting and polishing industry. . the Council provides market information to its members regarding foreign trade inquiries. In addition. and information about jewellery fairs and exhibitions. In diamonds. The Indian gems and jewellery industry is competitive in the world market due to its low cost of production and availability of skilled labour. the industry has a worldwide distribution network. The industry is well supported by government policies and the banking sector . trade and tariff regulations. A predominant portion of gold jewellery manufactured in India is consumed in the domestic market. THE GEMS AND JEWELLERY EXPORT PROMOTION COUNCIL Set-up in 1966. India is therefore a significant player in the world gems and jewellery market both as a source of processed diamonds as well as a large consuming market. Gold jewellery forms around 80 per cent of the Indian jewellery market. To achieve this. the Council is primarily involved in introducing the Indian gem & jewellery products to the international market and promotes their exports. a major portion of rough. India is expected to have its diamond bourse functioning at Mumbai in 2006.500 members' spread all over the country.
And finally. and sustained image building exercises through advertisements abroad. the Council has been appointed as the Nodal Agency in India under the Kimberly Process Certification Scheme. trade bodies and associations in various countries. GJEPC also organizes seminars.Your First Choice'. Finally. . The Council also grants membership. which is dubbed in various international languages as well as screened at various trade shows. buyer-seller meets. registration certificates and performs other roles as per the Exim Policy. sending and hosting trade delegations. • Varied Interests The Council also publishes a number of brochures. GJEPC also invites countries to explore areas of co-operation in supply of rough diamonds and rough colored stones as well as offers co-operation in jewellery manufacturing. the Council has also developed its own promotional audiovisual film . • Training and Research The Gems & Jewellery Export Promotion Council runs a number of institutes that provide training in all aspects of manufacture and design in Mumbai. To that effect. symposiums. trade directories and a bi-monthly magazine Solitaire International. Surat and Jaipur. These training programs are being conducted to ensure that the Indian industry achieves the highest levels of technical excellence. Delhi. which is distributed internationally as well as to its members. • Advisory Role A crucial area of activity of the Council has also been aiding better interaction and understanding between the trade and the government.'India . The Council regularly communicates with Indian Embassies. • Nodal Agency for Kimberly Process Certification Scheme GJEPC works closely with the Government of India and the trade to implement and oversee the Kimberly Process Certification Scheme. The Council takes up relevant issues with government and agencies connected with exports and submit documents for consideration and inclusion in the Exim Policy. statistical booklets. publications and audio-visuals.The role of GJEPC can be broadly classified under the following categories: • Trade Facilitator The Council undertakes direct promotional activities like organizing joint participation in international jewellery shows.
over 18% of India’s exports. Outlook India is the fastest-growing jewellery market in the world. procure jewellery from India. Opportunity India is one of the largest exporters of gems and jewellery. Exports of over $15. 85% volume share and 92% share of the world market by number of pieces. SEZs and Gems and Jewellery Parks have been set up to promote investments in the sector. Accounts for about 20% of world consumption. India is the diamond polishing capital of the world.GEMS AND JEWELLERY – OVERVIEW Size • • Large market for Gems & Jewellery with domestic sales of over $10 billion. 4% of the global Gems and Jewellery market. 60% value share. • Policy • • 100% FD is permitted in the Gems & Jewellery sector through the automatic route. India is the largest consumer of gold jewellery in the world.5 billion. . India is gaining prominence as an international sourcing destination for high quality designer jewellery. • Branded jewellery likely to be the fastest-growing segment in domestic sales. • • • • • • Structure The Indian Gems & Jewellery industry is highly fragmented with a large number of domestic private sector companies. Third largest consumer of polished diamonds after USA and Japan. Wal-Mart. • • A large portion of the market is in the unorganized sector. JC Penney etc. India is the largest diamond cutting and polishing center in the world.
India is the most technologically advanced diamond cutting center in the world. yet low-cost labour. to $2. been growing steadily carving a 4 per cent market share.15 million (Rs 200 million). • • • • • Highly skilled. it is expected to get more organized and the share of family jewellers is expected to decline. Organized players such as Tata with its Tanishq brand.2 billion by 2010.5 billion in 2005 to over $25 billion by 2010. There are over 15000 players across the country in the gold processing industry.• • Expected to grow at 40% p. who constitute nearly 96 per cent of the market.a. Potential India has several well recognized strengths which have made it a significant force in the global Gems and Jewellery business. Exports expected to grow from $15. The industry is dominated by family jewellers. most of the jewellery made in India is hand made. Established manufacturing excellence in jewellery and diamond polishing. The sector is largely unorganized at present with a small but growing organized sector The Indian gems and jewellery sector is largely unorganized at present. Opportunity to leverage India’s strengths to address the global market.000 goldsmiths spread throughout the country. Opportunity to address one of the world’s largest and fastest-growing Gems and Jewellery markets. . of which only about 80 players have a turnover of over US$ 4. have. There are about 450. India was one of the first countries to start making fine jewellery from minerals and metals and even today. As India’s jewellery market matures. however.
which exports around 80 per cent of the production and has more than 3.500 diamond processing units. Presence of traditional pockets of jewellery manufacture • Jewellery crafting by traditional goldsmiths is confined to a few regions in India. These pockets are widely separated and involve craftsmen whose skills have been handed down over generations. the share of the organized sector has increased significantly in recent years due to an increase in demand for better and finer quality finished goods. The average gestation period for setting up a diamond cutting and polishing unit is 15 months. coupled with low capital cost allows easy entry into the sector. However. Surat is an important diamond – processing centre.There are more than 6000 players in domestic diamond processing industry. This has led to the industry being largely characterized by a large number of small scale players. • Jaipur is a key centre for polishing precious and semi-precious gemstones. • Delhi and its neighbouring states are famous for manufacturing silver jewellery and articles. The low gestation period. just as in the case of jewellery. .
. specialize in studded jewellery using synthetic or imitation stones. • Coimbatore in Tamil Nadu specialises in casting jewellery. India has strengths and offers attractive opportunities across each of the above elements of the value chain. The clusters help in building a globally competitive environment for the Indian gems and jewellery industry. these have been developed and made competitive through support from the Government of India through its special economic zones and cluster development programmes. This category of jewellery finds a large market in Tamil Nadu. While these clusters have evolved over time based on the availability of raw materials. skilled labour and market potential. • Belgaum in Karnataka and Nellore together. The city is also India’s largest wholesale market in terms of volume.• Calcutta is popular for its lightweight plain gold jewelry. • Trichur in Kerala is another source for lightweight gold jewellery and diamond cutting. • Hyderabad is the centre for precious and semi-precious studded jewellery. • Mumbai is the centre for machine made jewellery. which are detailed below. The Indian gems and jewellery industry has significant potential India offers attractive opportunities across the industry value chain The value chain of gems and jewellery industry can be represented in the following manner. • Nellore is a source for hand made jewellery that has been supplying the Chennai market for quite a few decades.
Cutting and polishing of diamonds and other precious stones is one of the oldest traditions in India and the country has earned a considerable reputation both in the domestic and international markets for its skills and creativity. as well as occurrences of semi-precious and abrasive stones spread over different districts. Gemstone processing India was the first country to introduce diamonds to the world . diamond. Orissa. Today there is a ready availability of an entire range of diamonds in nearly every size. USA and Canada. The share of gold jewellery in India’s exports of gems and jewellery increased from 9 per cent in 1994 to 22 per cent in 2004. in the area of gemstone processing. Jewellery manufacturing India has well-established capabilities in making hand-made jewellery in traditional as well as modern designs. Exports of diamond jewellery are expected to increase in the future. aquamarine etc.Mining India has significant reserves of gold.the country was the first to mine diamonds. Bihar and Andhra Pradesh. cut and polish them and also trade them. Andhra Pradesh has gold and diamond bearing areas. With imported or domestic processed studding. Madhya Pradesh. In the global diamond market today. Indian hand-made jewellery has always had a large ethnic demand in various countries with sizeable Indian immigrant population such as the Middle East. quality and cut. . Orissa has deposits of Ruby and has about 20 varieties of various gemstones like rhodoline. Key states with gems stone reserves and mining potential are Maharashtra. Indian machine made jewellery is expected to generate demand from non-ethnic jewellery markets as well. In recent times. the Government of Orissa has announced a comprehensive mining policy allowing private and domestic investments in this sector. Chattisgarh. These initiatives have attracted foreign investors . garnet. an indication of growing acceptance in the world market. South-East Asian countries. from being a polisher of rough diamonds to a manufacture of jewellery. Untapped reserves of gems and favourable government policies provide opportunities for foreign direct investment in mining and avenues for global companies to explore precious metals and stones in India. For example. the Government of India as well as different state governments have been taking initiatives to open up the sector for exploration by global players. India has also developed capabilities in machine-made jewellery. Indian jewellers have been focusing on moving up the value chain. as compared to other gems processing. In the area of diamonds. Recognizing the potential of the large unexplored gemstone reserves in India. India offers the twin advantages of skilled labour and low cost. diamonds processed in India account for 55 per cent share in value terms.diamond mining leases and exploration projects have been undertaken by Rio Tinto and Diamond Trading Corporation (DTC). 80 per cent share in caratage (weight) terms and 90 per cent share in volume terms. ruby and other gem stones.
The Gems & Jewellery Promotion Council is India’s certification authority.The central and various state governments in India have come out with policy incentives to promote jewellery manufacturing. etc. The government’s Central Board of Excise and Customs has banned the import or export of rough diamond shipments. Certification for quality diamonds and jewellery has given a fillip to exports and resulted in greater acceptance of Indian products in the world market. shared around 16 per cent of the country’s total exports during the 1990’s compared to 3 per cent in 1970 – 71.3077 crores shared nearly . designs and branding. Jewellery retailing in India is undergoing a slow transformation from a largely unorganized sector to a more organized one. new formats such as boutiques. The Indian industry is also compliant with international norms such as the Kimberly Process and the Patriot Act. While the family owned jewellery store remains the predominant retail format. supermarkets and gold souks are emerging for jewellery retail. Andhra Pradesh’s New Industrial Policy declares gems and jewellery as a thrust area and a package of incentives are being offered for setting up manufacturing park facilities for value addition and export of gems and jewellery. jewellery manufacturing can be an attractive area for investment in India. the Indian government has tightened its certification process for international trade. which are not accompanied by a Kimberley Process certificate launched in Switzerland. Diamonds with an export of Rs.9 billion. Jewellery Retailing India has a large and growing domestic jewellery market of US$ 8. The jewellery retailing sector can offer long term benefits to organized players investing in this area. Given India’s strengths and potential for growth in this area.42 crores in 1970 – 71 to Rs.16579 crores accounted for 81 per cent of the exports from this sector in 1997 – 98 (compared to 66 per cent in 1970 – 71) and the gold jewellery with an export of Rs. technology driven designers. GEMS AND JEWELLERY – ANALYSIS The gems and jewellery sector with an export increasing from Rs. The gems and jewellery industry in India is a good blend of modern manufacturing and design techniques with traditional skills of the Indian artisan. India is an attractive potential market in the gems and jewellery sector. supply chain and inventory management in the jewellery industry. The Special Economic Zones and Gems and Jewellery Parks developed in different states offer technology-enabled environments that are conductive to growth and quality production. Cut and polished diamonds happened to be the single largest item of export in this sector followed by gold jewellery. Exports from this sector registering manifold increase on an average. For example. Certification Following the World Diamond Council’s statement on adopting credible and effective measures against the trade in conflict gems. With well-established capabilities across the value chain. professionally trained. Many of India’s jewellery manufacturing facilities are equipped with the latest CAD / CAM and other advanced design systems. Technology The Indian gems and jewellery industry has made rapid strides in design.20530 crores in 1997 – 98 continued to be one of the highest foreign exchange earners for the country. Indian customers are displaying growing preference for quality. powered by a new generation of young. Technology solutions are also available for production control.
15 per cent of the exports from this sector. Japan. India’s 10 major markets for gems and jewellery are given in the Table below: Table : India’s Exports of Gems and Jewellery to Ten Major Markets Major Markets USA 6930 Hong Kong 4245 1990 – 91 1621 702 1995 – 96 5012 4064 (Value : Rs. Israel and UAE. apart from increased world production and supply of rough stones and the liberalized policy on import of raw materials by Government of India from 1970s. These items appear to be loss perspective in view of their small production base or limited availability of raw materials or both. crore) Product Cut and Polished Diamonds 16579 (Percentage Share) (81) Coloured Gemstones 490 Gold Jewellery 3097 (Percentage Share) (15) Other Precious Metal Jewellery 129 Pearls 15 Synthetic Stones 08 Imitation / Artificial Jewellery 12 Total Exports 20530 1970 – 71 28 (66) 09 00 (-) 00 01 01 03 42 1980 – 81 1990 – 91 591 (92) 28 15 (2) 01 04 00 02 642 1997 – 98 4739 (88) 208 364 (7) 15 08 00 02 5460 The major markets for Indian gems and jewellery include USA. The first four countries accounted for about 75 per cent of India’s exports of gems and jewellery during 1990s. crore) 1996 – 97 1997 – 98 5439 3733 . The exports of other items in terms of this value of their share in gems and jewellery exports though appeal to be small (compared to diamonds and gold jewellery) registered substantial increase from Rs. which absorbed about 81 per cent of India’s exports during 1990 – 91 to 1997 – 98. Belgium. The overall size and trend of gems and jewellery exports from India reflecting the rapid rise in the exports of diamonds and gold jewellery are given in the Table below: Table : Gems and Jewellery Exports from India (Value : Rs. However.654 crores in 1997 – 98.5 crores in 1970 – 71 to Rs. the overall growth in exports of gems and jewellery can be attributed to rising overseas demand. together accounting for 96 per cent of the gems and jewellery exports in 1997 – 98 emerged as the star performers indicating their enormous growth potential for exports. Hong Kong. These two items.
0 1.0 20530. we would like to present the trend of exports to the major markets for Indian diamonds and gold jewellery. Singapore.0 USA 151 576.0 Singapore 57 Kuwait 81.3 - (Value : Rs. absorbing over 50 per cent of the exports have emerged as the important markets for Indian gold jewellery.7 0. crore) Gold Jewellery 1980 – 81 1990 – 91 15. in the Table below.0 76.0 Belgium 98 Japan 68 UAE UK 329. Kuwait and Hong Kong. The major markets as will be seen.0 122. UAE. accounting for more than 80 per cent of the Indian diamond exports include USA. on the other hand.0 0. . The Table below indicates India’s exports of diamonds and gold jewellery to major markets. Belgium and Japan while USA.0 557. diamonds and gold jewellery in the gems and jewellery sector are by far the most important and prospective items for exports.0 Hong Kong 120 78. as detailed below. Table : India’s Exports of Diamonds and Gold Jewellery to Major Markets Major Markets Diamonds Cut and Polished 1980 – 81 1990 – 91 1997 – 98 4739 1497 358 940 952 193 232 5360 20530 642.0 6051 4057 2881 1156 2.8 16579 0.0 1997 – 98 Total Exports 591 3097.0 61. Here. Hong Kong.0 3.7 8.7 5. UK.0 85.0 7. Mumbai The domestic industry has been growing at a significant rate The gems and jewellery sector in India has been growing across all key segments.Belgium 2874 Japan 1218 Israel 767 UAE 766 UK 436 Thailand 364 Singapore 322 Switzerland 307 Total Exports 20530 (including others) 941 978 92 40 175 212 64 138 5360 2450 2418 496 413 315 783 349 246 18145 2523 1747 510 678 418 623 430 301 18521 As mentioned earlier.0 Source : Gems and Jewellery Export Promotion Council.0 25.0 364.0 Total Gems and Jewellery 642 Exports 5360.
Given the global growth and the maturing of the Indian market to international trends.26 billion. Gemstones India’s gemstone industry has been growing due to the popularity of gemstone-studded jewellery across the globe. account for the bulk of the sales. Trends also show that traditional handcrafted jewellery is slowly giving way to machine-made jewellery. and has positioned itself on the quality.000 tonnes of silver. Silver jewellery and other articles for personal use. targeted at the premium jewellery segment. Platinum Platinum or white gold. it continues to be is less than one per cent in the global platinum jewellery market. The branded jewellery market in India is estimated at US$ 111. The gold jewellery market is growing at 15 per cent per annum and the diamond jewellery market. is second only to the US market of US$ 40 billion and is followed by China at US$ 11 billion. reliability and wearability factors. India is also the third largest industrial user of silver in the world. with an estimated turnover at US$ 0. Jewellery The Indian jewellery market is one of the largest in the world. after the US and Japan. While India’s share in the global platinum jewellery market is growing by 19 per cent annually. Gold consumption in India is primarily aimed at investment. Exports of gems and jewellery have also been growing . this represents an area for potential growth in India. used mostly in 20 / 22 carat jewellery. at 27 per cent per annum. The emergence of branded jewellery is a new trend that is shaping the Indian jewellery market Branded jewellery is a relatively new concept in the sector.22 – 0.6 million per annum.Precious Metals Gold The current consumption of gold in India is estimated at over 900 tonnes. The Indian market size at US$ 13 billion. is gaining preference of designers and consumers globally. Nearly 95 per cent of gold is used to manufacture gold jewellery in the domestic markets and the remaining 5 per cent is exported. especially in the rural areas. Silver India annually consumes around 4.
T.30 -6.35 5596.73 -7.19 0.31 274.65 18. and Sales to foreign tourists.India recorded US$ 15.82 1305.19 Carats) Gold JewelleryD.66 584.99 93979.85 14. The industry is expected to achieve exports of US$16 billion by 2007.80 7. In Crores 55453.A SEZ / EPZ Total 7958.6 billion worth of exports in the gems and jewellery sector in 2004-05. In Crores Cut & Pol Diamonds * 65693.04 28512.52 22538.81 1668.99 April '08-January'09 (Same ports as current year) Rs.86 21954.21 2998.66 20308.28 90981.79 Rs.77 36470.69 US $ % Growth / decline over previous Year (Quantity in Lakh 460.84 7409.23 per cent growth to US$ 3.81 1012.18 215.19 243.05 27.10 8.12 269.22 20981. Gold jewellery sector recorded 42.44 per cent from the previous year.17 -32.95 -13. 10.91 384.80 3.59 Exports of Rough Diamonds 2789.99 Carats) Total Exports 107418.20 Coloured Gemstones Others Net Exports 1159.16 972.48 7919.H) also* Figures in bracket shows quantity in lakh carats Data from Chennai MEPZ has not been received for Dec 09 & Jan 2010 Figs from Vizakhapatnam SEZ has not been received for April 2009 to January 2010 Above figures does not include data for Costume/ Fashion Jewellery. Advantage India • Gems and Jewellery hub .77 1812.00 14.81 billion in 2004-05.92 6.42 Note: Data of Cut & Pol Diamonds include export of CPD (Bonded W.65 7646.59 33542.18 25623.49 11. up by 26.28 8.16 US $ in Million 12458.43 104628.59 34.12 225.04 US $ in Million 13789.83 5977.68 15. CURRENT SENERIO ITEMS April'09 -January'10 (Provisional) Rs.24 673.22 (Quantity in Lakh 182.46 19.24 8.
weight and alloy content.4 of Foreign Trade Policy for the purpose of import of precious metals. which is home to thousands of diamond units with lakhs of diamond workers.1% Rhodium finished silver .2% Gold and platinum . FOREIGN TRADE POLICY (2009-2014) INITIATIVES Import of gold of 8k and above is allowed under replenishment scheme subject to import being accompanied by an Assay Certificate specifying purity. • Surat in Gujarat. • The authorized persons of gems and jewellery units in Export Oriented Units shall be allowed personal carriage of gold in primary form up to 10 kg in a financial year subject to Reserve Bank of India and customs guidelines.1% .3% • Cut and polished diamonds . Duty Free Import Entitlement [based on Free On Board (FOB) value of exports during previous financial year] of consumables and tools. Manufacturing excellence EXPORT FACILITATION MEASURES BY THE MINISTRY OF COMMERCE & INDUSTRY DURING THE YEAR 2009 • MSTC Limited and STCL Limited have now been added under the list of nominated agencies notified under para 4 A.• • • • • Rich tradition / heritage of craftsmanship with high level of skills Low production costs Effective worldwide distribution network for promotion and marketing. Diamond polishing capital of the world. for: • Jewellery made out of: • • • Precious metals (other than gold & platinum) . has been recognized as "Town of Export Excellence".
94. INVESTMENT OPPORTUNITIES • • • • Gemstone Processing (Cutting and Polishing) Jewellery Manufacturing and Retailing Jewellery Certification Branded Jewellery FUTURE OUTLOOK All India Gem and Jewellery Trade Federation (GJF) are targeting growth from US $ 16.187.• Duty free import entitlement of commercial samples shall be US $ 6.79 billion to US $ 26. • Duty free re-import entitlement for rejected jewellery shall be 2% of FOB value of exports. • Import of diamonds on consignment basis for certification/ grading & re.export by the authorized offices/agencies of Gemological Institute of America (GIA) in India or other approved agencies will be permitted. • Extension in number of days for re-import of unsold items in case of participation in an exhibition in USA increased to 90 days. it is planned to establish "Diamond Bourse (s)". • Personal carriage of gems & jewellery products in case of holding/participating in overseas exhibitions increased to US$ 5 million and to US$ 1 million in case of export promotion tours.23 billion by the year 2012. • In an endeavour to make India an international trading hub for diamond. GEM AND JEWELLERY EXPORT PROMOTION COUNCIL (GJEPC) .
Promotion of Indian diamonds and jewellery abroad through advertisements.Ultimo Vaibhav Gems. Mehendra Exports J. Vijaykumar Laxmi Diamond K Girdharilal C. The following initiatives have been taken by the council in order to enhance competitiveness such as: • • • • • Preparation of a medium term exports strategy for various sectors including gems and jewellery by the Ministry of Commerce. MAJOR PLAYERS IN INDIAN GEMS AND JEWELLERY SEGMENT Gitanjali Group Shrenuj & Company Suraj Diamonds and Jewellery Limited Rajesh Exports Asian Star Titan Industries (Tanishq into Retail). Market study through experts in the field to identify new markets.The Gem and Jewellery Export Promotion Council is a representative body of trade. buyer-seller meets and direct approach to market retailers.B Brothers Tara . Exploring the possibility of direct procurement of rough diamonds from mining countries. Bangalore Suashish Diamond Rosy Blue B. Promotion of export of 'hallmark' jewellery from India to assure foreign customers of quality and purity of jewellery made in India. Jaipur Sheetal Manufacturing . publicity and participation in international fairs.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue reading from where you left off, or restart the preview.