Growing sector of precious stone and jewelry

The role of gems and jewelry in Indian economy
The jewelry sector comprises of gems, precious and semi-precious stones and other elements. All these are sub-sectors related to the main jewelry industry. The potential for growth is tremendous in the Indian market. The government has declared these sectors as areas that are great for exports and generate foreign revenue. There are various measures that the government has formed to promote the jewelry industry so that the investment pour in. it is also important that the industry uses upgraded technology for production and manufacturing and marketing of the jewelry. The industry is flourishing due to the highly skilled labor that is available here on a large scale and the traditional way of making jewelry with traditional designs, settings, and use. The availability of the raw materials and the cutting, polishing industries are also very important and closely related. Exports take place on a large sale in the diamond jewelry sector and other precious gems sector. It is projected to generate around $ 35 billion of export revenue in 2015.
Government initiatives for precious stone and jewelry
The jewelry and gems sector has a market size of around $ 40. 45 billion in 2013 and there is the potential of $ 85.43 billion by 2018. The demand is always on the rise from the domestic as well as international market, and that is why the government has made investor friendly policies for more investment in this sector. The CAGR is expected to grow at 15.95 per cent till 2019. The FDI investments during April 2000 to June 2015 were $ 716.95 million. Gems and jewelry can never go out of fashion and will only develop with a new approach and new designs. Various reforms and relaxation schemes of the government will definitely help the growth of the industry.

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Precious stoneworking, watchmaking and jewellery

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