The gems and jewellery industry holds a unique and essential place in the global and Indian economy, celebrated for its artistry, craftsmanship, and economic value. This article, titled Gems and Jewellery Industry GK MCQs With Answer & Explanation in English, provides a curated set of multiple-choice questions to help readers deepen their understanding of this luxurious sector.
Each question includes answers and detailed explanations, making it a valuable resource for students, exam aspirants, and industry enthusiasts looking to enhance their knowledge about gems, jewellery, and related market insights. Dive in to explore the rich world of gemstones and jewellery!
1. What is the contribution of Gems and jewellery to Indian GDP?
- 13%
- 4%
- 16%
- 7%
Show Answer
Answer: 7%
The gems and jewellery industry plays an important role in the development of the Indian economy. It contributes about 7% to Indian GDP. India is the leading exporter of processed diamonds in the world.
2. What is the contribution of Gems and Jewellery to Indian merchandise exports?
- 10%
- 15%
- 20%
- 18%
Show Answer
Answer: 15%
The contribution of Gems and Jewellery to Indian merchandise exports is 15%. Exports of gold coins and medallions from India stood at $1.9 billion, while exports of silver jewellery was $3.3 billion during April 2017-February 2018.
3. What is the share of India’s processed diamonds in the world’s processed diamond market?
- 30%
- 50%
- 70%
- 95%
Show Answer
Answer: 95%
India is the leading exporter of processed diamonds in the world. The Indian diamond processing centre is the largest and most advanced in the world. India accounts for about 95% of the world’s processed diamonds.
4. Which country has the world’s largest diamond cutting industry in the world?
- India
- China
- USA
- Saudi Arabia
Show Answer
Answer: India
India has the world’s largest diamond cutting and polishing center in the world. It accounts for 95% of the world’s processed diamonds.
5. What is India’s export share in the world’s processed diamond market?
- 75%
- 95%
- 60%
- 80%
Show Answer
Answer: 75%
According to the Gem and Jewellery Export Promotion Council (GJEPC), India exports 75% of the world’s polished diamonds. India is the world’s largest cutting and polishing centre for diamonds. The Indian industry accounts for 95% of the world’s processed diamonds.
6. What is the FDI allowed under the automatic route by India in the Gems and Jewellery sector?
- 75%
- 51%
- 49%
- 100%
Show Answer
Answer: 100%
The Indian Government allows 100 percent Foreign Direct Investment (FDI) in the gems and jewellery sector through the automatic route. The sector employs over 4.64 million employees, which is expected to touch 8.23 million by 2022.
7. Which country is the major exporter of Gems and jewellery to India?
- USA
- Hong Kong
- Switzerland
- UAE
Show Answer
Answer: USA
The United States accounted for the highest value in the export of precious gems and jewelry from India in financial year 2022
8. Which is the top export destination of Indian Gems and Jewellery?
- USA
- UAE
- Hong Kong
- Belgium
Show Answer
Answer: USA
The top export destination for Indian Gems and Jewellery is the United States (USA).
9. Which is the top imported commodity of India in terms of value in the Gems and jewelry sector in 2019?
- Rough Diamonds
- Gold Bars
- Polished diamonds
- Silver Bars
Show Answer
Answer: Rough Diamonds
The top 3 imported commodities of India in terms of value in the Gems and jewellery sector in 2019 are: Rough Diamonds Gold Bar Cut and polished diamonds
10. Which is the top Imitation Jewellery exporter in the world?
- China
- India
- USA
- UK
Show Answer
Answer: China
The top 3 Imitation Jewellery exporters in the world: China France Austria
Latest Web Stories
Leave a Reply