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7/29/2019 Exports of Gems and Jewellery
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Exports of Gems and
Jewellery
SUBMITED BY: SUBMITTED TO:AFRIN KHAN ANIL GORAY
NIHARIKA SAXENA
NISHTHA SONI
YASHA BAKSHI
MBA FT 5YRS. V SEM
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Introduction
Fastest growing sector of India with annual growth rate of
15% p.a approx.
Current market size of the Indian Gems and Jewellery Industry
is 25 billion USD.
Total export of gems and jewellery in April-march, 2010 saw a
growth of 2.36% and 16.27% share in total exports.
G&J Industry consumes 800 tones of world gold that accounts
for 20% of world gold consumption.
It gives employment to nearly 2 million people, out of which 1
million are engaged exclusively in export production
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Major Segment
Gold:
Comprises around 80% of Indian jewellery market.
Very high level of domestic consumption
Varieties include the South jewellery, Maharashtrianjewellery, Bengali art etc.
Diamond:
First country to mine, cut and trade diamonds.
Largest diamond cutting & polishing centre in world, with60% carat share and 82% value share.
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Contd
Nearly 9 out of 10 diamonds sold worldwide are cut
and polished in India.
Exported cut and polished diamonds worth 14.18
billion USD in 2007-08
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Major production centers in India
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Major export destinations
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Major exporters
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G&J Export Promotion Council
Setup in 1966,represents more than 7000 jewellers.
Designers trained to international standards.
To establish a prominent global player in jewellery segment.
Involved in introducing Indian Gems and jewellery products
to international market and promote export .
It provides market information to its members regarding
foreign trade enquiries, trade and tariff regulations, rate ofimport duties and information about exhibitions.
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Role of GJEPC
Trade facilitator
Advisory role
Nodal agency for kimberly process certification scheme.
Training and research
Varied interest
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Core function :
Introduce Indian gems and jewellery products to internationalmarkets and promote their exports.
Other activities :
Compilation and publishing of regular statistics related to exportand import of diamonds in India
Arrangement of participation of its members in foreign market.
Organizing meetings between its members and foreign delegatesvisiting India.
Advertising is leading trade journal abroad to introduce India'sproduct in those markets.
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Export trends
Total export of G&J was 29081.11 million USD.
export posted a modest growth of 1.45% during 2008-09 at USD21.1 billion.
Country exported USD 20.8 billion of gems and Jewellery in 2007-08.
UAE imported gems and jewellery from India in 2008-09 with ashare of 31%.
Sector accounts for 13% of India's total merchandise export.
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Exports data
Items 2007(in cr ) 2008 (in cr) 2009(in cr)
Cut and
polisheddiamonds
57117.17 58649.45 45365.09
Gold jewellery 11637.12 9406.49 5572.37
Coloured
gemstones
1111.05 1197.55 834.80
Rough
diamond
2280.32 3474.93 1992.95
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Major competitors
Gold jewellery
Italy, china, Japan, Thailand, Hong Kong, France, Mexico,
Turkey, Canada, UK, Israel.
Diamond
China, Belgium
Gemstones
Sri lanka , Thailand
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Issue and challenges
Gems and jewellery had sharp decline in October, November,December 2008.
Fresh orders decline by 20% in November and December.
Industry forced to cut production by almost 25% according toGJEPC.
Fall in consumer demand and build up in inventory liquidityproblems.
Closing down of units in Gujarat.
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Government Initiatives
Import duty was lowered on platinum.
Import of 8 & above carat gold allowed under replenishment scheme.
Setting up SEZ ( Special Economic Zone ) and gems and jewelleryparks.
Import duty abolished on polished diamond in may 2007.
Cutting and polishing of gems and jewellery treated asmanufacturing.
Service tax exempted.
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Future scope of gems & jewellery
Global jewellery market estimated to increase in sales of USD
21 billion by 2011 and USD 37 billion by 2015.
Consumption of diamond estimated to jump by 78%.
Branded jewellery expected to grow 40% annually.
Private sector initiatives are projected to derive the sales
around 14%.
Organised gems & jewellery anticipated to grow rapidly nearby
8% of total gems & jewellery.
Factors like cheap labour cost, better design and manufacturing
practices make country attractive destination.
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CONCLUSION
Flexibility in the governmental policies for the Indian
exporters.
Availability of cheap and skilled labour.
USA, EU, Japan and Hong Kong are the leading importers of
major gems and jewellery products from India.\
India is one of the fastest growing jewellery markets in the
world and is the largest consumer of gold in the world
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REFERENCE
www.diamond.com
www.gjepc.org
www.indiamart.com
www.commerce.nic
www.crystalinks.com
www.americapearl.com
http://www.diamond.com/http://www.gjepc.org/http://www.indiamart.com/http://www.commerce.nic/http://www.crystalinks.com/http://www.americapearl.com/http://www.americapearl.com/http://www.crystalinks.com/http://www.commerce.nic/http://www.indiamart.com/http://www.gjepc.org/http://www.diamond.com/7/29/2019 Exports of Gems and Jewellery
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