Gems & Jewelry- The most significant sector of the economy

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Gems and jewelry sector is one of the most significant sector of the Indian economy. It adds 6-7% to our GDP and is responsible for bringing in valuable foreign exchange.

In addition gems and jewelry industry is a labor concentrated business and it generates lakhs of jobs every year. This is one of those sectors where India has a strong name globally and it is ranked as the largest exporter of gems and jewelry globally. In 2016 the sector saw exports of $32 billion and grew at a beneficial 12%. When it comes to segments, exports for 2015-16 included: Cut and polished diamonds: US $20 billion, gold medallions and coins: US$ 5.2 billion and silver jewelry: US$ 3 billion.

There is a lot of demand for Indian gems and jewelry globally. UAE, US, Russia, Singapore, Hong Kong, Latin America and China are among the most significant importers. As per estimates, India exports 95% of world’s diamonds as it is the major cutting and polishing center for diamonds in the world. The jewelry market in India grew at a compound annual growth rate (CAGR) of 15.95% between 2014 and 2019.

The key centers for the trade are in Surat and Mumbai. About 80% of exports for diamonds happen out of Surat which has over 3,500 diamond processing units. These two centers are known for its knowledge in the diamond processing segment.

The KGK group uses some of the supreme manufacturing machineries accessible for diamond processing. DiaMark™ laser marking, Galaxy™ diamond mapping and Water jet laser cutting are some of the regularly used techniques for producing fine quality diamonds at KGK. Natural and ethical diamonds are manufactured in KGK units situated in India, South Africa, Russia and Botswana.

KGK produces the finest quality diamonds efficiently and in volume that are passed on to clients. KGK has a widespread, secure distribution infrastructure to supply wholesale diamonds to buyers in almost all noteworthy marketplaces across the sphere. The KGK Group is a one stop solution for all your diamond and gemstone needs anywhere in the world.

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