Gems and Jewelry
One of the fastest expanding industries in India is the Gems and Jewelry sector. In 2015, it is anticipated that India's exports of gems and jewelry—which include cut and polished diamonds, gold jewellery, coloured gemstones, pearls, non-gold jewellery, synthetic stones, etc.—will bring in around US$35 billion in income. With well over $40 billion in sales, the domestic market is also strong. India accounts for about 20% of global gold consumption, making it the greatest consumer in the world. Most of this consumption is used to create gold jewellery.
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