Gems and Jewelery is Ranked amongst the fastest growing sectors in India. It is an important emerging sector in the Indian Economy & also a leading sector for foreign exchange generation. It is expected that by the year 2015 the gems and jewelery sector will help India earn about US$ 25-35 billion in form of export revenue. It has a huge market both in India and abroad. Gem & Jewelery sector accounted for 16.7% of India ‘s total Merchandise Exports.Volume of exports reached US$ 43.1 billion as of March 2011. At present, India exports 95% of the world’s diamonds. It includes various kinds of jewels like gold, colored gemstones, platinum and diamonds. During the Fiscal Year 2010-11, the total exports for gems and jewelery stood at US$ 43.1 billion as compared to US$ 29.4 billion during the fiscal year 2009-10. During the same period, the sector registered a growth of 46.5 per cent over the previous year. The sector is expected to register a CAGR of 13% during 2011-2013. This business employs and engages millions; cover wide activities such as raw material procurement from Africa, Australia, Canada and Russia, and then transforming them into beautiful pieces with the skills available in China, India, Italy and Turkey for the sophisticated markets in the USA, Europe, Far East, Middle East and Asia. The gems and jewellery industry is very much fascinating being traditionally glamorous and artistically modern.