Gem & Jewellery sector
The Gems and Jewellery Sector plays a significant role in the Indian economy, contributing around 6-7% of the country’s GDP. One of the fastest growing sectors, it is highly export-oriented and labour-intensive. Based on its potential for growth and value addition, the Government of India declared the Gems and Jewellery Sector as a focus area for export promotion. India is deemed to be the hub of the global jewellery market because of its low cost and availability of high-skilled labour. India is the world’s largest cutting and polishing centre for diamonds, with the cutting and polishing industry being well supported by government policies. The Gems and Jewellery market in India is home to more than 500,000 players, with the majority being small players.