India's Gems & Jewellery industry

Flush with rough diamonds from Africa and having organised itself in a large company to eliminate middlemen, Surat's diamond industry has more good news. The size of the Indian gems and jewellery industry is expected to cross $31 billion or Rs 1.47 lakh crore in 2010-2011. This is largely due to the improved demand for polished diamonds in the US, China, Hong Kong, UAE and Commonwealth of Independent States. Surat itself is expected to process $18 billion worth of the glittering gems in this financial year. From a mere $8 billion worth of exports in 1999-2000, the Indian gems and jewellery industry has come a long way by capturing 70% of the global polished diamond share.

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