The Indian jewelery and jewelry industry finished the 2012-13 fiscal year with good results, contributing US $ 2.132.82 million to the treasury of India as foreign exchange earnings. According to the Gem and Jewelery Export Promotion Council (GJEPC), the growth was 154 percent compared to the same period last year.
The financial year ended on a positive note: the import of rough diamonds increased by 12.65 percent, which indicates an increase in the production of diamonds in India. The industry also saw an increase in processing industries, as indicated by a 33 percent increase in exports of gold jewelry and balance of payments. In 2012-13, we also witnessed a significant reduction - by 61.45 percent - of polished imports, which indicates a huge drop in India's foreign currency expenditure. This helped to reduce the deficit of current items of the country's balance of payments. The total volume of exports of precious stones and jewelry for the 2012-13 fiscal year amounted to US $ 39.033 billion.