GEMS AND JEWELLERY
FDI in Indian Diamond Industry
One of the fastest growing sectors in the country, the Gems and Jewellery sector plays a significant role in the Indian economy, contributing around 7 percent of the country’s GDP and 15.71 percent to India’s total merchandise exports. India is deemed to be the hub of the global jewellery market because of its talented craftsmen, its superior practices in cutting and polishing fine diamonds and precious stones and its cost-efficiencies.
- The Government of India has permitted 100% Foreign Direct Investment (FDI) in the Indian diamond industry under the automatic route.
Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. The government aims to promote ‘Brand India’ in the international market and has undertaken various measures to promote FDI in the jewellery sector and to upgrade technology and skills.