India's Gems and Jewellery Industry

How big India's gems and jewellery industry is, how it spans diamond cutting, gold jewellery and coloured stones, and why it matters for exports and jobs.

India is a global powerhouse in gems and jewellery.

Scale

Gems and jewellery exports have been around 30 to 40 billion dollars a year in recent years, though falling in 2023-25.
The sector employs millions, including artisans and diamond polishers.

Segments

Cut and polished diamonds: India processes most of the world’s diamonds.
Gold jewellery: India is one of the world’s largest gold jewellery markets.
Coloured gemstones: emeralds, rubies and sapphires.
Silver and costume jewellery.

Value addition

India imports rough diamonds and gold, adds value through cutting and crafting, and exports finished goods.

Hubs

Surat: diamond cutting.
Mumbai: trading and exports.
Jaipur: coloured gems.
Kolkata, Thrissur and Coimbatore: gold jewellery.

Recent challenges

Weak global demand, lab-grown diamonds and US tariffs in 2025 hurt exports.

The value chain

A rough diamond from Botswana is cut in Surat, traded in Mumbai, set in a ring in New York and sold to a customer in Chicago.

Thinking India mines most of its diamonds

India imports rough diamonds and adds value by cutting.

Key takeaways

India's gems and jewellery exports are tens of billions of dollars.
The sector employs millions.
India imports rough stones and gold and exports finished goods.
Surat, Mumbai and Jaipur are key hubs.