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Gems and Jewels
Gems & Jewels are making its way into the Indian fashion industry creating a difference.
Read more about fashion in gems and jewels in India.
India’s fascination with jewellery dates back 5,000 years to the Indus Valley. At the time, the country was the largest producer and exporter of pearls in the world. Our country was the home to diamonds, semi-precious stones and gold. It is an undeniable fact that for the last 2,000 years, India was the sole supplier of gemstones across the world. These stones and jewellery were considered as the power, success and reputation and for the Indian women, they were and still are considered essential to provide social and economic security, the value of which can never be undermined. Today, the Gems and Jewellery industry has become one of the largest businesses in India playing an important role in the Indian economy. If we go through the statistical data, it contributes 7% of the country’s GDP and 15.71% of India’s total merchandise exports which itself is one of the fastest growing sectors. As a result the industry brings in a huge amount of foreign exchange and provides employment to over 4.64 million workers in both organized and unorganized sectors. As per the 2020 statistics, India’s gems and Jewellery exports account for 3.5% of the world’s total exports, making it among the top 7 highest exporters in the world. Diamond jewelry ranks first in the world’s total exports with a 29.0% share, followed by silver-cut diamonds and lab-grown diamonds and synthetic stones with 22.0% and 32.7% shares, respectively. Being one of the largest exporters of gems and jewelry, the industry is contributing a major portion of the country’s total foreign exchange reserves. As per reports, India has witnessed a massive growth of 54.13% over the previous year and has reached USD 39.14 billion in 2021-22. We are getting the jewelleries designed by the small artisans and creating their business for their livelihood.