Challenges and strategies for development of Indian gems and jewelleries

India is a leading player in the global Gems and Jewellery market. The Gems and Jewellery industry occupies an important position in the Indian economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country. India is the world's biggest gold buying nation and the value of gems and jewellery sector exports from India is estimated around $26 billion. While a predominant portion of gold jewellery manufactured in India is for domestic consumption, a predominant portion of rough, uncut diamonds processed in India in the form of either polished diamonds or finished Diamond jewellery is exported. At present, the Indian gems and jewellery market is dominated by the unorganized sector. In order to gain market share, branded jewellers may have to come up with new designs and must improve the confidence of consumers by hallmarking. The industry must establish close linkages with existing learning centres, which would help them to imparting skills that are needs of hour. Finally, efforts should be made to increase the production of Gems & Jewellery by exploration of ores.