The results of the Indian gem and jewelry sector for the 2012-13 fiscal year were very well received by the Council for the Promotion of Gem and Jewelry Export (GJEPC), as the turnover showed a 154% increase year-on-year, providing India with foreign currency earnings in The import of rough diamonds increased by 12.65% year-on-year, which indicates the intensification of diamond polishing and polishing activities, as well as the surge in jewelry production. The export of gold jewelry increased by 33%. The import of polished diamonds fell 61.45%, ensuring India's foreign exchange cuts and trade deficit.
Some time ago, the editorial portal Diamond World portal quoted the statement of the Secretary of the Department of Financial Services under the Ministry of Finance of India Snehlata Shrivastava (Snehlata Shrivastava) that the industry of precious stones and jewelry is considered by the Indian government as the main field for creating export demand. In addition, the GJEPC welcomed the efforts of the government, which adopted the recommendations of the working group whose implementation is designed to ensure that India becomes an international center for diamond trade.
Given this general positive background, the industry is undoubtedly opening new prospects, one can hope for further positive steps in the regulation of the industry, including the introduction of quotas for duty-free diamond imports, the organization of diamond tenders and auctions in India, the formation of a commission for analysis and optimization of conditions bank financing sector. The participants in the sector of precious stones and jewelry are in high spirits and hope for growth and development.