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India’s gems and jewellery industry is predominantly made up of the micro, small, and medium enterprise (MSME) segment, which accounts for nearly 75 per cent of the sector by value.
This highly fragmented and labour-intensive industry is characterised by low capital intensity and high reliance on imported inputs, such as gold and rough diamonds.
It constitutes a significant 7-9 percent of the nation’s merchandise exports. While the sector’s domestic market is driven by gold jewellery, its export market in dominated by cut and polished diamonds.
Last financial year, demand for investment gold grew 25 per cent but that for jewellery
