NEW DELHI: The Diamonds is forever, and gold never loses its trend– but for now, and for many young Indians, rubies, emeralds, sapphires and aquamarines will do just fine. Demand for the precious, pricey stones – and jewelry made from them – is increasing in the nation, whether for wedding rings or as high the fashion accessories.
Data from the Gem & Jewellery Export Promotion Council, show imports of rough gemstones grew from $106 million from the year 2008-09 to $906m in the year 2017-18. These imports include precious and semi-precious gemstones.
In April-August 2019, coloured gemstone imports went rised 150%. Rough diamonds imports are much larger by the value but even though it is significant that imports fell by 22.9 percent in same period.