INDIA'S GEMS & JEWELLERY INDUSTRY: 

SHINING EXAMPLE OF COMPETITIVENESS

The gems and jewellery industry provides a shining example of achieving international competitiveness. Gems and jewellery exports from India were modest at Rs. 2 crore in 1960-61 and Rs. 22 crore in 1966-67, the year in which the industry's export promotion body, The Gem & Jewellery Export Promotion Council (GJEPC), was set up. The exports of the commodity group ‘gems and jewellery’ more than doubled to Rs. 45 crore (US$ 59 million) in 1970-71. The years thereafter were all milestones in the growth of exports of gems and jewellery.

 

Table - 1: India's Net Exports of Gems and Jewellery

(US $ In Million)

Items

1990-              91 

1995-                                                      96

2000-01

2001-02

2002-03

2003-04

2004-05

 

Cut & Polished Diamonds

2641

4662

6187

5972

7111

8627

11182

 

Coloured Gem Stones

116

147

203

183

192

178

193

 

Gold Jewellery

203

569

1150

1167

1513

2681

3813

 

Pearls

5

6

3

3

4

4

3

 

Non-Gold Jewellery

8

24

56

64

85

99

129

 

Synthetic Stones

-

4

2

2

1

1

1

 

Costume Fashion Jewellery

1

5

10

10

10

10

-

 

Sale To Foreign Tourists

13

10

12

13

13

18

-

 

Sub-Total

2987

5427

7622

7414

8929

11620

15320

 

Exports of Rough Diamonds

-

31

157

142

241

536

358

 

Total

2987

5458

7779

7556

9170

12156

15678

 

 

 

 

 

 

 

 

 

 

 

 

Note: - = Nil or Negligible

Source: The Gem & Jewellery Export Promotion Council (GJEPC), Mumbai

(The Source for all the Tables, unless otherwise specified is GJEPC)

 

There were leaps in exports in the years to follow, with the figure rising to about Rs. 25,790 crore (US$ 6.131 billion) in 1998-99. This represented a growth of 573 times in gems and jewellery exports as compared to the growth of 92 times in the country’s total exports from Rs. 1,535 crore (US$ 2.031 billion) in 1970-71 to Rs. 141,604 crore (US$ 33.641 billion) in 1998-99. The later figures show that gems and jewellery exports increased further to Rs. 34,560 crore (US$ 7.622 billion) in the year 2000-01. In 2004-05 the gems and jewellery exports were still higher at Rs. 68,646 crore (US$ 15.320 billion). The provisional figures for 2006-07 were Rs. 77,180 crore (US$ 17.102 billion).

 

Table – 1A: India's Net Exports of Gems and Jewellery

(Indian Rs. in Crores)

Items

1990-                  91 

1995-                                                         96  

2000-01

2001-02

2002-03

2003-04

2004-05

 

Cut & Polished Diamonds

4739

15501

28042

28346

34298

39551

50074

 

Coloured Gem Stones

208

488

924

867

926

818

864

 

Gold Jewellery

364

1888

5220

5538

7301

12255

17112

 

Pearls

8

19

12

13

21

19

12

 

Non-Gold Jewellery

15

83

255

305

410

457

580

 

Synthetic Stones

-

12

7

11

5

5

4

 

Costume Fashion Jewellery

2

16

44

48

46

47

-

 

Sale To Foreign Tourists

24

32

56

61

63

83

-

 

Sub-Total

5360

18039

34560

35190

43070

53234

68646

 

Exports of Rough Diamonds

-

106

713

673

1162

2451

1599

 

Total

5360

18145

35273

35863

44232

55684

70245

 

 

 

 

 

 

 

 

 

 

 

 

Note: - = Nil or Negligible

Source: The Gem & Jewellery Export Promotion Council (GJEPC), Mumbai

(The source for all the Tables, unless otherwise specified is GJEPC)

 

The gems and jewellery industry, representing more than 7000 exporters, had a share of 11% in world exports and a share of 18% in India's exports in 1998-99. Over 70% of the world exports of cut and polished diamonds in caratage are processed in India. In value terms, India’s share is about 50% in world exports of cut and polished diamonds. The expansion in the mining of rough diamonds in various countries and the increase in world trade in cut and polished diamonds and diamond studded jewellery are attributed to the growth of the diamond industry in India during the last four decades.

 

Table - 2: Port-wise Exports of Gems and Jewellery

(US $ In Million)

 

 

 

 

 

 

 

 

 

Port of Export

90-                  91    

95-                                                       96  

99-00

00-01

 

 Mumbai

2803.85

5067.97

7585.92

7106.26

 

 New Delhi

81.31

176.83

240.79

297.03

 

 Ahmedabad

0.13

0

0

0

 

 Jaipur

80.91

104.72

162.95

164.94

 

 Chennai

6.25

23.15

19.57

20.50

 

 Calcutta

0

0.68

50.36

53.88

 

 Bangalore

0.91

40.58

49.83

48.44

 

 Cochin

0.52

3.15

3.18

3.00

 

 Surat

0

0

1.15

46.69

 

 Coimbatore

0

0

8.66

13.70

 

 Hyderabad

0

0

13.63

12.71

 

 Sales to Foreign     Tourists

0

0

8.98

12.34

 

 Total

2973.88

5417.08

8145.02

7779.49

 

 

ACKNOWLEDGEMENTS:         

FINANCEMAN ASSOCIATES acknowledges the use of various printed and electronic media for compiling the content, ideas and statistics on the gems and jewellery industry presented on this web page. We at FINANCEMAN ASSOCIATES are thankful to the industry leaders, their spokesmen, commentators in the media and experts in diamonds processing and jewellery manufacture and, specifically the Gem & Jewellery Export Promotion Council, Mumbai, for the use of published text and statistics that are in the public domain. The place of jurisdiction concerning all issues presented on this Web Page by FINANCEMAN ASSOCIATES shall be Mumbai, Maharashtra, India.

Copy Right © 2007 FINANCEMAN ASSOCIATES

 

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