Shipments of gems and jewellery constitute 14 per cent of India's total exports, and employ 3.4 million workers.
The net exports of gems and jewellery from India during April 2012-December 2012 stood at US$ 27,638.39 million, including that of cut and polished diamonds at US$ 11,501.45 million, gold at US$ 14,224.67 million, coloured gemstones at US$ 225.49 million and silver jewellery at US$ 578.65 million, besides others, according to Gem and Jewellery Export Promotion Council of India (GJEPC).
The exports from the industry are expected to rise 15 per cent in 2013 against US$ 38.28 billion worth of overseas shipments in the previous year.
Steep growth in India's silver exports is outpacing its other trade in precious metals as world demand picks up for cheaper jewellery options. Shipments of sliver jewelry are likely to rise by up to 30 percent in 2013.