9 Months agoFrom talented craftsmen to superior practices, India’s gems and jewellery sector is one of the world’s largest, contributing to 29% of global consumption.
The Gems and Jewellery sector in India is one of the largest in the world and contributes to about 29% of the global consumption. In FY 2014-15, the sector constituted 13.30% of the country’s total merchandise exports. India is the largest diamond processing center in the world and accounts for 95% of world’s processed diamonds.
The Indian Gems and Jewellery industry has gained popularity worldwide because of its talented craftsmen and its superior practices in cutting and polishing fine diamonds and precious stones. The market in India is expected to grow at a compound annual growth rate of 16% over the period 2014-19 according to an industry report. The Industry currently employs around 4.5 million skilled and semi-skilled workers across India and is expected to provide employment opportunities to more than 8.23 million persons by 2022.