Gems and Jewellery is an important emerging sector in the Indian Economy. Ranked among the fastest growing sectors, it is also a leading sector for foreign exchange generation.The gems and jewellery industry is very much fascinating being traditionally glamorous and artistically modern. This business employees and engages millions; cover wide activities such as raw material procurement from far flung Africa, Australia, Canada and Russia, and transforming these into products in demand with the skills available in China, India, Italy and Turkey for the sophisticated markets in the USA, Europe, Far East, Middle East and Asia.

India's Position in Gems and Jewellery Sector

Gems and Jewellery is one of India 's leading foreign exchange earning sectors.

It accounted for 16.7 per cent of India 's total Merchandise Exports.

USA’s import of Gem & Jewellery from India increased by 50.5% in 2010 as compared to 2009.India Gems & Jewellery exports are expected to grow at a whopping 15 to 20 per cent in FY 2011-2012. At present India exports 95% of the world’s diamonds.

Gems and Jewellery Components

Diamonds:

Diamonds have always enjoyed a special place among precious gemstones. In the past, diamond jewellery was limited to a very small elite segment of the global population. However, over the past 50 years, diamonds have seen increasing democratisation. Diamond jewellery has, therefore, emerged as a segment showing significant growth in some of the emerging markets.

Gold:

Gold has always been the jewellers' favourite metal given its intrinsic lustre and