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This is the most dazzling display of gems, jewellery, beads, accessories and minerals you'll ever see below one roof. In 1967, Herbert A. Duke, Sr., founded the primary commercial gem and jewelry present to promote on to the public. From these humble beginnings, the International Gem & Jewelry Reveals had been created. With practically a hundred shows yearly in more than 35 major U.S. cities, they now produce the largest exhibition of gems, minerals and jewellery on the planet. A predominant portion of the gold jewelry manufactured in India is consumed in the home market.

India is world's largest cutting and sprucing centre for diamonds; the reducing and sprucing business is well supported by authorities policies and the banking sector with around 50 banks offering practically USD 3 billion of credit to the Indian diamond business. At current, India exports 95% of the world's diamonds, in line with statistics released by the Gems and Jewellery Export promotion Council (GJEPC).

A significant portion of the tough, uncut diamonds processed in India is exported, both in the type of polished diamonds or completed diamond jewelry. The size of the Indian gems and jewellery market is was USD 30.1 billion in 2011 and is predicted to be USD 45 billion by 2015 on the again of increasing home demand. The hub of India's jewellery business is Mumbai that receives nearly all of the nation's gold and tough diamond imports.

The country is likely one of the largest exporters of gems and jewellery and the business is taken into account to play a vital function within the Indian economy as it is a leading international exchange earner. Import of diamonds on consignment foundation for certification/grading and re-export by the licensed workplaces/agencies of Gemological Institute of America (GIA) in India or different accredited businesses to be permitted. To advertise exports of gems and jewelry merchandise, the worth limit of non-public carriage has been increased from USD 2 million to USD 5 million in case of participation in abroad exhibitions.

The number of days for re-import of unsold items in the case of participation in an exhibition in the US has been elevated to 90 days. The federal government plans to ascertain diamond bourses in an endeavour to make India a world Handcrafted Earrings diamond trading hub. The names of operational SEZs in the sector are SEEPZ Special Economic Zone, Mumbai; Manikanchan SEZ, West Bengal; Jaipur SEZ; and Hyderabad Gems SEZ Ltd.