The forecast for the import of worked but unset rubies, sapphires, and emeralds to India from 2024 to 2028 indicates a steady growth trajectory, moving from USD 502.75 million in 2024 to USD 508.94 million in 2028. Without 2023 actual data for direct comparison, the trend suggests a modest year-on-year percentage increase, reflecting a stable yet slow expansion in this sector. Over the five-year span, the compound annual growth rate (CAGR) highlights a slightly upward movement, indicative of a consistent, moderate demand increase.
Future trends to monitor include:
- Fluctuations in global gemstone market prices, which could impact import costs.
- India's domestic demand dynamics and preferences towards luxury gemstones.
- Possible regulatory changes affecting gemstone imports and trade policies.
- The impact of technological advancements on the cutting and sorting of gemstones.
