India is increasingly assuming leadership role in the manufacturing of comparatively less discussed sectors of diamond, gems and jewellery. Not only the net contribution of the sector to the GDP of India rising; but also their significance in creating large number of jobs has been highly underrated. Among the three diamond cutting, polishing and exports contributes significantly to the foreign exchange reserve of India. The importance of the sector can be gauged from the following statistics:

1.
The export value of cut and polished diamond from India has gone up from 7110.57 million USD in 2002-03 to 10909.82 million USD in 2005-06.
2.
The percentage of global diamond off take for India has increased from 15.31% in 1990 to 28.23% in 2004.
3.
Nine out of ten diamonds globally seen is cut and polished in India.

These figures underline the importance that the sector deserves from multiple perspectives, if the growth story of the sector is to continue.

 

 
 
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