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FLOW OF CONTENT

INTRODUCTION MAJOR SEGMENT CLUSTERS IN INDIAN GEMS AND JEWELLERY INDUSTRY MAJOR EXPORT DESTINATIONS MAJOR EXPORTERS GJEPC ROLE OF GJEPC EXPORT TRENDS ISSUE AND CHALLENGES GOVERNMENT INITIATIVES FUTURE SCOPE CONCLUSION REFERENCE

Introduction
Fastest growing sector of India with annual growth rate of 15% p.a approx. Current market size of the Indian Gems and Jewellery Industry is 25 billion USD. Total export of gems and jewellery in April-march, 2010 saw a growth of 2.36% and 16.27% share in total exports. G&J Industry consumes 800 tones of world gold that accounts for 20% of world gold consumption. It gives employment to nearly 2 million people, out of which 1 million are engaged exclusively in export production

Major Segment
Gold: Comprises around 80% of Indian jewellery market. Very high level of domestic consumption Varieties include the South jewellery, Maharashtrian jewellery, Bengali art etc. Diamond: First country to mine, cut and trade diamonds. Largest diamond cutting & polishing centre in world, with 60% carat share and 82% value share.

Contd
Nearly 9 out of 10 diamonds sold worldwide are cut and polished in India. Exported cut and polished diamonds worth 14.18 billion USD in 2007-08

Major production centers in India

Major export destinations

Major exporters

G&J Export Promotion Council


Setup in 1966,represents more than 7000 jewellers. Designers trained to international standards. To establish a prominent global player in jewellery segment. Involved in introducing Indian Gems and jewellery products to international market and promote export . It provides market information to its members regarding foreign trade enquiries, trade and tariff regulations, rate of import duties and information about exhibitions.

Role of GJEPC
Trade facilitator Advisory role

Nodal agency for kimberly process certification scheme.


Training and research Varied interest

Core function :

Introduce Indian gems and jewellery products to international markets and promote their exports.
Other activities :

Compilation and publishing of regular statistics related to export and import of diamonds in India Arrangement of participation of its members in foreign market. Organizing meetings between its members and foreign delegates visiting India. Advertising is leading trade journal abroad to introduce India's product in those markets.

Export trends
Total export of G&J was 29081.11 million USD. export posted a modest growth of 1.45% during 2008-09 at USD 21.1 billion.

Country exported USD 20.8 billion of gems and Jewellery in 200708.


UAE imported gems and jewellery from India in 2008-09 with a share of 31%. Sector accounts for 13% of India's total merchandise export.

Exports data
Items 2007(in cr ) 2008 (in cr) 58649.45 2009(in cr) 45365.09

Cut and 57117.17 polished diamonds Gold jewellery 11637.12

9406.49

5572.37

Coloured gemstones
Rough diamond

1111.05
2280.32

1197.55
3474.93

834.80
1992.95

Major competitors
Gold jewellery
Italy, china, Japan, Thailand, Hong Kong, France, Mexico, Turkey, Canada, UK, Israel.

Diamond
China, Belgium

Gemstones
Sri lanka , Thailand

Issue and challenges


Gems and jewellery had sharp decline in October, November, December 2008.
Fresh orders decline by 20% in November and December. Industry forced to cut production by almost 25% according to GJEPC.

Fall in consumer demand and build up in inventory liquidity problems.


Closing down of units in Gujarat.

Government Initiatives
Import duty was lowered on platinum. Import of 8 & above carat gold allowed under replenishment scheme. Setting up SEZ ( Special Economic Zone ) and gems and jewellery parks. Import duty abolished on polished diamond in may 2007.

Cutting and polishing of gems and jewellery treated as manufacturing.


Service tax exempted.

Future scope of gems & jewellery


Global jewellery market estimated to increase in sales of USD 21 billion by 2011 and USD 37 billion by 2015. Consumption of diamond estimated to jump by 78%. Branded jewellery expected to grow 40% annually. Private sector initiatives are projected to derive the sales around 14%. Organised gems & jewellery anticipated to grow rapidly nearby 8% of total gems & jewellery. Factors like cheap labour cost, better design and manufacturing practices make country attractive destination.

CONCLUSION
Flexibility in the governmental policies for the Indian exporters.
Availability of cheap and skilled labour. USA, EU, Japan and Hong Kong are the leading importers of major gems and jewellery products from India.\ India is one of the fastest growing jewellery markets in the world and is the largest consumer of gold in the world

REFERENCE
www.diamond.com www.gjepc.org www.indiamart.com www.commerce.nic www.crystalinks.com www.americapearl.com