The gems and jewellery sector has been playing a very important role in the Indian economy and contributes about 7% to the country's gross domestic product (GDP).
India is the world’s largest consumer of gold, accounting for over 20% of the global gold consumption
India exports 95% of the world’s diamonds, as per statistics from the Gems and Jewellery Export promotion Council (GJEPC).
The industry is projected to generate up to $35 billion of revenue from exports by 2015.
The domestic gems and jewellery industry had a market size of $41.61 billion in 2013, with potential to touch $85 billion by 2018.