May be a diamond is forever, and gold never loses its shine – but for now, and for many young, rich Indians, rubies, sapphires, emeralds and aquamarines will do just fine. Demand for precious, pricey stones – and jewellery made from them – is increasing in India, whether for wedding rings or as high fashion accessories. Data from Gem & Jewellery Export Promotion Council, a trade body supported by the ministry of commerce and industry, show imports of rough gemstones grew from $106 million from 2008-09 to $906 million in 2017-18. These imports include precious and semi-precious gemstones. In the April-August 2019, coloured gemstone imports went up by 150%. Rough diamonds imports are much larger by value but even though it is significant that imports fell by 22.9% in the same period. Gems are usually imported into India from a wide variety of countries, from Sri Lanka and Mayanmar to the US and Australia (see graphic). They are polished and made into jewellery. The manufacturing capital of gem jewellery in India is Jaipur. Young Indians prefer gems for a variety of reasons, from aesthetic to concerns about mining process.

(Economic Times)