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https://www.ibef.org/industry/gems-jewellery-india.aspx
Introduction. As of January 2021, India’s gold and diamond trade contributed ~7.5% to India’s Gross Domestic Product (GDP) and 14% to India’s total merchandise exports. The gem and jewellery sector is likely to employ ~8.23 million persons by 2022, from ~5 million in 2020. Based on its potential for growth and value addition, the Government declared gems and jewellery sector …
India Bullion and Jewellers Association Ltd. (IBJA) was established in 1919, as a result of the prevailing circumstances in the market that warranted an association with multi-faceted approach to the problems and challenges faced by the bullion traders in a newly liberated India.
https://www.rough-polished.com/en/expertise/46501.html
Jan 27, 2011 · Gold jewellery forms around 80 per cent of the Indian jewellery market. Besides, India has the world's largest cutting and polishing diamond industry. It is well supported by government policies and the banking sector with around 50 banks providing nearly $3 billion of credit to the Indian diamond industry. India was one of the first countries to start making fine jewellery from minerals and metals and even today, most of the jewellery made in India …
https://www.ibef.org/industry/gems-and-jewellery-presentation
The Government has made hallmarking mandatory for gold jewellery and artefacts and a period of one year is provided for its implementation. As per Union Budget 2021, the Gem and Jewellery Export Promotion Council has proposed a reduction in import duty on cut and polished diamonds to 2.5%, from the existing 7.5%, in order to double exports of gems & jewellery to US$ 70 billion by 2025. Cumulative FDI inflows in diamond and gold ornaments in India …
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