Gems And Jewellery Industry Essay

1295 Words6 Pages
GJEPC (2008) highlighted that the global economic breakdown has hit the Indian Gems and Jewellery industry. Update on the diamond industry and reduction in the value addition measures for Gems and Jewellery industry has also been discussed. Export and import data of Gems and Jewellery products have also been displayed in this newsletter.

Mital, Amita (2008) analyzed matters related to competition, demand and supply stipulation of India’s gems and Jewellery products. Government initiatives and regulation to encourage exports of Gems and Jewellery products are also discussed. In his study, Mital pointed out that demand of Gems and Jewellery depends on saveral factors such as economic growth, employment levels, income levels, tax rates and credit availability and competition is based mainly on the quality, design, availability and pricing of products. She told that, foreign direct investment up to 100 per cent was allowed in the Gems and Jewellery industry under the industrial policy.

Bijlani, Shanoo and Regan Luis (2010) reported that gems and jewellery industry has the capacity to grow at an approximate of $ 45 billion to $100 billion by 2015. They stated that the jewellery industry featured two major sub-segments gold and diamonds with the preceding constituting 80 per cent of the jewellery market. Gems and Jewellery Products (GJPs) are assumed to grow at compounded annual growth rate of 15 per cent. However, the Indian gems and jewellery market is unregulated and pricing is mostly based on the value of gold and labour charges.

GJEPC (2009) discussed the major highlights of the Foreign Trade Policy (FTP) 2004-09 for Gems and Jewellery sector. It studied the contribution of different Gems and Jewellery products in India’s export...

... middle of paper ...

...uous increase in the Export of Gems & Jewellery in India. From table 1, it is found that the Export of Natural Pearls expected to grow by 31065.23% from the FY 2008-09 to FY 2017-18. In table 2, it is found that the growth of Export of Diamond is 114.55% from the FY 2008-09 to FY 2017-18. It is found from table 3 that the Export of Stone is expected to grow by 5899.73% from FY 2008-09 to FY 217-18. From table 4, it is found that the Export of Gold expected to grow by 35988.1% from the FY 2008-09 to FY 2017-18. In table 5, it is found that the Export of Articles of Jewellery assume grow by 246.97% from FY 208-09 to FY 2017-18. Gems and Jewellery Industry play a vital role the development of an economy. It can expanded its markets in the global economy and can be recognized as a global to the exporters of the other countries and prove to be equally good in the export.

More about Gems And Jewellery Industry Essay

Open Document