The domestic gems and jewelry industry had a market size of Rs 251,000 crore (US$ 40.45 billion) in 2013, and has the potential to grow to Rs 500,000-530,000 crore (US$ 80.59-85.43 billion) by 2018, according to a study. The study also projected that the country's gems and jewelry market could double in the next five years.
India's gems and jewelry sector has been contributing in a big way to the country's foreign exchange earnings. In FY14, India's gems and jewelry sector contributed US$ 34,746.90 million to the country's Foreign Exchange Earnings.According to a report, the Jewelry Market in India is expected to grow at a CAGR of 15.95 per cent over the period 2014-2019.
The gold jewelry exports from India were US$ 554.45 million in December 2014, while silver jewelry exports were US$ 148.49 million, according to the latest data released by the Gems and Jewelry Export Promotion Council (GJEPC).
The cumulative foreign direct investment (FDI) inflows in diamond and gold ornaments in the period April 2000-December 2014 were US$ 476 million, according to Department of Industrial Policy and Promotion (DIPP).Platinum jewelry could breach the Rs 2,500 crore (US$ 402.95 million) mark in FY15, according to research experts in the field.