A Study on Import Scenario of Colored Gemstone and Diamonds in India

Kalpana Agrawal, Mitisha Agrawal

Abstract


Gems and Jewellery is being consumed by Indians for ages for its aesthetic as well as investment value and also form an essential part of the tradition .We import rough diamonds, cuts and polishes them, and then exports them. Gem and jewellery sector which is a powerful engine, driving India's export-led growth. As per the latest import-export statistics released by the Gems and Jewellery Export Promotion Council (GJEPC), imports of polished diamonds declined by huge 59% to $944.93 million by value, and by 52% to 1.966 million carats by volume in January 2012 compared to same month previous year. Last year, the import of polished diamond in January 2011 was $.2.2 billion in value and 4.7 million carats in volume. While, polished diamond export in January-2012 fell 19% year-on-year to $1.7 billion and declined by 37% by volume at 3.32 million carats compared to the same month in previous year. On the same time, rough diamond import increased by 7% to $1 billion in January, while the rough exports surged 45% to 153.27 million compared to the same month in previous year. The present study is an attempt to comprehend the import scenario of colored gems and diamonds in India and to observe their future import trend in India.


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ISSN : 2251-1547