A Study on the Changing Face of Industrial Relations Practices Among the Organizations Belong to Gems & Jewellery Sector, Surat.

Exploring the Dominance of Diamonds in the Indian Gems & Jewellery Industry

Abstract

The gems and jewellery industry is broadlydivided into three main categories, which includes cut and polished diamond,gold jewellery, precious and semi-precious stones. The two major segment of theGems & Jewellery business in Surat are gold jewellery and diamondjewellery. While a predominant portion of gold jewellery manufactured in Suratis for domestic consumption; a major portion of rough, uncut diamonds processedin India in the form of either polished diamonds or finished diamond jewelleryis exported. Gold jewellery accounts for around 80% of the Indian jewellerymarket; with the balance comprising of fabricated studded jewellery-diamondsand gemstones. Diamond holds the most important position in terms of foreignexchange earnings. Processed diamonds contribute about 80% of the total exportof the industry, which makes the Indian gems and jewellery industry diamondcentric. India accounts for nearly 55% of world net exports of cut and polisheddiamonds in value terms. There is hardly any other export segment of thecountry that has such a significant share in the world market.