West Asia's share in India's exports of precious stones and jewellery is around 17% of the total which was $37.9 billion in the last financial year, with exports to Israel another $1.3 billion.
Gems and jewellery is the second biggest item of exports from India to Israel after petroleum products (mainly diesel).
Israel imports gems and jewellery from India and re-exports with some value addition to developed countries. Israel is also the technology provider to the sector.
Cut and polished diamonds constitute the highest exported commodity category with a trade of $1.27 billion. The second highest commodity category was worked labs grown exports at $40.65 million in 2022-23.
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