INDIAN DIAMOND INDUSTRY AT A GLANCE IN 2021 - 2022 The Indian Gems and Jewellery Market stood at USD78.50 billion in FY2021 and is expected to grow with a CAGR of 8.34% in the ensuing years.
The US has about 50% of the world’s diamond jewellery market. The second biggest market is China, which has 16-17%. Third is India, at 5-6% of the market. India ranks first among the top exporters in cut and and polished diamonds.
The cumulative foreign direct investment (FDI) inflows in diamond and gold ornaments stood at US$ 1,194.00 million between in 2021. The Indian diamond industry, which is mostly export-oriented, is likely to clock revenues of about $24 billion this fiscal, bouncing back to pre-pandemic levels. India is the world’s largest manufacturer of polished diamonds. About 90% of global diamond-cutting capacities and 80% of workers are based in India. India has about 1 million workers engaged at thousands of cutting factories. The cutting business is concentrated in two Indian states. The main gem-cutting clusters are located in Gujarat (Surat, Ahmadabad, Bhavnagar cities). Trade offices are located in Mumbai.
Diamond ImportsIndia imports approximately 100 million carats of diamonds worth $10 billion annually. About 20% of rough stock are supplies from Israel, Hong-Kong and the United Arab Emirates.