The government permits 100% foreign direct investment (FDI) in the gems and jewellery sector under the automatic route. The sector is the second largest foreign exchange earner in India. It plays a significant role in the economy, representing 7 per cent of gross domestic product and 15 per cent of total merchandise exports. In 2022-23, overall gem and jewellery exports increased by 2.48 per cent to USD39.3 billion from USD37.5 billion in 2021-22. The sector significantly contributed to India’s total exports of USD419 billion and growth of 44 per cent from 2020 to 2021......

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