Top Export Destinations of "Artificial Jewellery." from India in 2020:

·         USA with a share of 22% (31 million US$)
·         United Arab Emirates with a share of 14.3% (20 million US$)
·         United Kingdom with a share of 8.39% (11.8 million US$)
·         Nigeria with a share of 7.53% (10.6 million US$)
·         Iran with a share of 5.07% (7.14 million US$)

Did You Know?

The United States accounted for the highest value in the export of precious gems and jewellery from India in the fiscal year 2021 at over 640 billion Indian rupees. Hong Kong and the United Arab Emirates ranked second and third respectively. Pearls, precious and semi-precious stones made up nearly eight per cent of exports from India, while precious metal jewellery contributed nearly four per cent in the financial year 2019.

Value of jewellery exported from India in the financial year 2021, by leading destination (in billion Indian rupees)

Jewellery is not just a fashion for women, it is deeply rooted in Indian culture and tradition.  It is always a form of self-expression. Different cities in India have different jewellery styles.

Due to the advancement and modern culture, the importance of gold and silver jewellery has declined, and women prefer buying artificial jewellery instead. 

They are in demand due to their beautiful creativity and cost affordability. Women are aware of how to blend the tradition of ornamenting their beauty with a modern style. Today's world is driven by dynamic women who know how to carry themselves with style and confidence. Artificial Jewellery is more cost-effective as compared to frequent wardrobe upgrades with diamond and gold jewellery. Artificial jewellery never compromises aesthetics.

Modern fashion ornaments replicate the designs of gold and silver jewellery and the price is almost a fraction of them. Therefore, many teenage girls and young women prefer to buy artificial jewellery in India on any occasion.

A certificate from the Pollution control board also may be required if applicable to export imitation jewellery, pearls, precious metals, coins etc under chapter 71 of HS code (HTS code). Another special requirement to export imitation jewellery, pearls, precious metals, coins etc. is Pre shipment inspection Certificate. 

Best Artificial Jewellery Brands in India are:

India was one of the first countries in the world to make fine jewellery using minerals, metals, and gemstones. As a result, over the years, India has become a gems export centre for the world, producing some of the most exquisite pieces the world has ever seen. The gemstone industry generates employment for a large section of India’s population thanks to high foreign exchange earnings via exports. Even back in 2012, jewellery and gems exported from India accounted for almost 14% of our country’s total merchandise exports. India, Thailand, the USA, and China dominate the global jewellery industry which is worth over $100 billion. In India, the gemstone and jewellery industries work mainly under the unorganised sector with local players making up almost 80% of the market.

·       Tribe Amrapali. Amrapali is one of the best artificial jewellery brands in India.

·        Zaveri Pearls. Another popular artificial jewellery brand in India is Zaveri Pearls.

·         Pipa Bella. The artificial jewellery collection of this brand is as revolutionary as its name.

·         Voylla.

·         The Luxor.

 

·         Ra Abta by Rahul.

·         Sukkhi.

·         YouBella.

Best Imitation Jewellery Markets of India [Artificial Jewellery Shopping]

1.    Begum Bazaar, Hyderabad. Begum Bazaar is a very ancient market in Hyderabad.

2.    Janpath, Delhi.

3.    George Town, Chennai. ...

4.    Pondy Bazaar, Chennai. ...

5.    New Market, Kolkata. ...

6.    Commercial Street, Bangalore. ...

7.    Sarojini Nagar, Delhi. ...

8.    Kanhaijewels.com.

  

Documents Required for Artificial Jewellery Export from India:

1.      Director-General of Foreign Trade registration certification

2.      Company incorporation certificate

3.      Import Export Code

4.      Kimberly Process Certificate 

5.      Pollution certificate from the Pollution Control Board of India

6.      Pre-shipment inspection certificate

7.      Certificate of Origin 

8.      Company PAN

9.      ID and address proof of the business owners along with their passport-sized photographs

10. Bank certificate 

11. Memorandum or Articles of Association / Partnership deed

12. Latest Income Tax returns

Additionally, any company that wishes to export gemstones from India must have the following;

1.      Bank account

2.      Permanent Account Number

3.      Import-Export Code 

4.      Business Identification Number 

5.      Registration Cum Membership Certificate from the Gem and Jewellery Export Promotion Council

6.      Enrolment No from the Director-General of Foreign Trade

7.      Valid identity cards and an updated profile of the exporter via Form Appendix-2. 

 

Challenges Faced by Exporters of Artificial jewellery in India

Here’s a quick look at the challenges faced by gemstone exporters in India.

1.      Jewellery and gemstone polishing are difficult skills to acquire, leading to a human resource shortage

2.      Moreover, skill development is a long and expensive process, making the industry extremely labour intensive 

3.      Lack of support for research and technological development within the sector

4.      Limited financing options due to it being a capital-intensive industry

5.      High import dependency for certain commodities leading to unexpected delays and a rise in prices 

6.      Additionally, limited supply infrastructure makes growth challenging 

7.      The high impact of regulatory curbs and tariffs, leading to price fluctuations

 

How to Export Gemstones from India

1.      The entrepreneurs will first need to study the global gemstones export market and decide on what type of products they wish to export. Once they have a basic idea regarding their business plan, they must incorporate their business in India. Afterwards, entrepreneurs must open a bank account for the company and obtain a company Permanent Account Number. 

2.      To partake in the gem exports industry in India, individuals must first register with the Director-General of Foreign Trade. Additionally, once they have registered with the DGFT, companies can apply for an Import Export Code. No company can import or export any product into or out of India without this unique 10-digit number. The process of registration is a one-time affair, but companies will need to renew their license from time to time as and when required.

3.      Next, exporters must decide what products they wish to ship to foreign nations and identify the Harmonized System codes and product classification codes for the same. Further, these codes help business owners identify their products and clear customs efficiently, and are a prerequisite for filing several government documents.

4.      All traders must ensure that they comply with the guidelines laid out regarding the handling and transporting of hazardous wastes in India. Moreover, the Ministry of Environment and Forest is responsible for regulating and controlling the import and export of gemstones, jewellery, pearls, and precious metals in India.

5.      In certain cases, gem exporters will also have to submit test and analysis reports from laboratories certifying the quality of the products. When it comes to diamonds, several countries around the world ask for the Kimberly Process Certificate issued by the Gem and Jewellery Export Promotion Council of India. Additionally, this certificate ensures that the trade of diamonds does not lead to the financing of violent rebel movements.

 Author: Khushi Bansal