Indias gems and jewellery export performance since 1991

Abstract

India is a leading player in the global gems and jewellery market. The gems and jewellery industry occupies an important position in the Indian economy. It is a leading foreign exchange earner, as well as one of the fastest growing industries in the country. Indian economy underwent a major structural change in the form of economic reforms in the year 1991. Therefore, the time period for the present study was taken from 1990-91 to 2017-18. Growth of India s Gems and Jewellery Exports have shown that India s total exports, manufactured exports and gems and jewellery exports grew at the rate of around 14 percent for whole of the study period (1990-91 to 2017-18). Commodity-wise Structure and Concentration of the India s Gems and Jewellery Exports have shown that in value terms, India s total exports, manufactured exports and gems and jewellery exports recorded continuous increase during the study period. The figures also show that the value of Concentration Ratio (4) was higher than the other measures of concentration during the whole study period. Country-wise Structure and Concentration of the India s Gems and Jewellery Exports have shown that the share of top ten countries, i.e., USA, UK, Hong Kong, Belgium, Germany, Singapore, Netherland, Japan, Switzerland and France. As per Gravity model, the important determinants were Total GDP, RFE, Similarity Index and Export/ GDP ratio of India s gems and jewellery exports and its sub-categories and they were found to be significant in all the five models. newline