Indian gems and jewellery market worth USD 30.1 bn: Report

The domestic gems and jewellery market is estimated at USD 30.1 billion, according to a report by coloured gemstone producer Gemfields. Coloured gemstones in India have a market share of 8 percent, preceded by diamonds with a market share of 15 percent, the report said.

Quoting Gemfields chief executive officer Ian Harebottle, the report said growth of coloured gemstones has touched an all-time high, and its demand in India alone had gone up by 50 percent a year over the last four years. "We expect this percentage to grow higher in the coming years," he said, adding overall acceptance, demand and popularity of gemstones in India has risen significantly.

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