The jewellery industry has significantly contributed to India’s growth story over the past few years. As of February 2021, India's gold and diamond trade contributed ~7.5% to India's gross domestic product (GDP) and 14% of India's total merchandise exports. The gems and jewelry market expected to employ around 8.23 million people by 2022, up from ~5 million in 2020. Based on its possibility for growth and value acquisition, the government declared the gems industry as a focus area for export promotion. For more info, you can visit India Brand Equity Foundation website.