Gems & Jewellery

Gems & Jewellery

The Gem and Jewellery industry can be classified principally into diamonds, rubies, sapphires, coloured stones, gold and silver jewellery, and pearls. However, the two major segments in India are gold and diamonds. India dominates the global diamond processing trade with eleven out of twelve diamonds being cut and polished in India.

Although dominant role in terms of processing and consumption, mining of gold and diamond is amongst the lowest in the world. India imports gold and rough diamonds along with other precious metals. Gold is purchased from countries like Switzerland, South Africa, Australia, UAE, etc and rough diamonds are sourced from Belgium, UK, Israel and UAE.

Jewellery centres like Jaipur are very important and one of the best places in the world to source jewellery.

India’s Gem and Jewellery industry is highly unorganized and fragmented with 96% being family owned businesses. The gold processing industry has around 15,000 businesses, with only 80 earning over $5m. India has around 450,000 goldsmiths, 100,000 gold jewellers along with 6,000 diamond processing companies and 8,000 diamond jewellers.

The big names are Rajesh Exports, Gitanjali Gems, Suhashish Diamonds, Su-Raj Diamonds, Vaibhav Diamonds and Tanishq.