1、For updated information,please visit www.ibef.orgNovember 2024GEMS AND JEWELLERY2Executive Summary3Advantage India 4Market Overview and Trends6Strategies Adopted12Growth Drivers and Opportunities16Key Industry Contacts23Appendix25Table of Contents3Executive Summary3.Market sizeIndias gems and jewell
2、ery market sizestood at US$78.50 billion in FY21.In 2022,Indias gems&jewellery exportsector which is one of the largest in theworldcontributed4.3%totheglobaljewellery Export.Indiasgems&jewelleryexportsareexpected to reach US$100 billion by 2027.Market size of the India diamond jewellerysector is lik
3、ely to expand to US$17 billionby 2031.5.Import trendsIn April-September 2024,Indias gems andjewellery imports were at US$9.92 billion.The total imports of gems and jewellery inSeptember 2024 stood at US$1.47 billion.1.Contribution to GDP and employmentAsofMarch 2024,Indiasgold anddiamond trade contr
4、ibuted 7%to IndiasGrossDomesticProduct(GDP)and15.7%to Indias merchandise exports.The Gems and jewellery sector in Indiaprovidesemploymentto5millionindividuals.4.Robust growth in exportsThe Government of India is aiming at US$100 billion in jewellery export in the next fewyears(until 2027),up from US
5、$35 billion in2020.In April-September 2024,Indias gems andjewellery exports were at US$13.40 billion.InSeptember2024,Indiasgemsandjewellery exports were at US$2.54 billion.2.Diamonds processing and exportsIn FY24,Indias cut and polisheddiamond exports were at US$15.97billion.The overall gross export
6、 of Cut&Polished diamonds stood at US$1.29 billion in September 2024.54321Source:Gems and Jewellery Export Promotion Council(GJPEC),Media sources4 4Advantage India5Advantage India4.ATTRACTIVE OPPORTUNITIESIndiasdemandforgoldisexpectedtoreach800-900tonnes in 2024.Indias gold demand witness a774.1 ton
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