India’s gems and jewellery exports to the US rose 7.81 per cent year-on-year during October-December 2016 due to a revival in the overall economic activity in the US. The overall net exports of Gems & Jewellery during April-December 2016 stood at Rs 175,879.24 crore (US$ 26.28 billion), whereas exports of cut and polished diamonds stood at Rs 113,171.17 crore (US$ 16.91 billion).
Exports of gold coins and medallions stood at Rs 25,819.48 crore (US$ 3.86 billion) and silver jewellery export stood at Rs 18,010.72 crore (US$ 2.69 billion) during April-December 2016.
Indian gems and jewellery exports are likely to witness a growth of about 10 per cent this fiscal due to increasing demand in the US and Europe. The jewellery market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.95 per cent over the period 2014-2019.