Foreign Direct Investment (FDI) in India’s gems and jewellery sector surged by 673% year-on-year in Q1 FY2024, totaling $40 million (INR 330 crore) compared to $5 million (INR 42 crore) in the same period in 2023.
This sharp increase indicates renewed investor confidence.
According to the GJEPC, the sector’s share of India’s overall FDI inflows rose to 0.24% in Q1 FY2024 from 0.05% in Q1 FY2023.
Vipul Shah, Chairman of GJEPC, highlighted that foreign investments bring not only capital but also advanced technologies, enhancing growth and competitiveness.
He noted that this influx of capital would strengthen manufacturing capabilities and design innovation, supporting India’s ambition to lead in jewellery manufacturing.
Overall FDI inflows into India also increased by 47.8% to $16 billion (INR 1.34 trillion) in the April-June period, up from $11 billion (INR 899 billion) in the previous year.
This trend reflects a favorable investment climate, driven by government reforms aimed at attracting foreign capital.
