India’s Gems and Jewellery Exports Reach $32.85 Billion, US Market Key Contributor: Report

India’s gems and jewellery sector heavily relies on exports, particularly to the US market. In the fiscal year 2023-2024, the total exports of gems and jewellery from India reached $32.85 billion, out of which $9.95 billion was shipped to the US, making up 30.29% of the sector’s export revenue. This highlights the significance of the US market for Indian gems and jewellery exporters. The sector’s export performance is crucial for the overall economy, driving growth and creating employment opportunities.India’s expertise in crafting intricate and high-quality jewellery has garnered global recognition, further boosting its export potential. As the industry continues to evolve and adapt to changing consumer preferences, maintaining a strong foothold in key export markets like the US remains a top priority for Indian gems and jewellery manufacturers. The sector’s ability to innovate, offer competitive pricing, and adhere to international quality standards will be essential for sustaining its export growth in the future. With a rich heritage of jewellery-making and a skilled workforce, India is well-positioned to capitalize on the global demand for gems and jewellery. By focusing on strategic marketing initiatives and forging strong partnerships with international buyers, the Indian gems and jewellery sector can further enhance its export performance and solidify its position as a leading player in the global market.

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