Sri Lanka has been regarded highly for its capacity of producing high-quality gemstone and catering to the unprecedented demand of gem lovers.
Gem And Jewelry Industry – Sri Lanka
Over the centuries, Sri Lanka has emerged as one of the significant producers of most of all types of gemstone and minerals. Out of 200 minerals, which are being classified as gemstone 75 varieties are discovered from Sri Lanka.
In Sri Lanka, the significance of these minerals can be assumed from the fact that the overall economy of Sri Lanka is somewhere lies upon these precious minerals.
The main economy of Sri Lanka heavily relies upon the three main activities: mining, manufacturing, and trading.
The gem and jewelry industry of Sri Lanka provides jobs to a huge section of Sri Lanka’s population. It has been estimated that more than one lakh workers currently associated with gem and mineral industry of Sri Lanka. So, this industry has a deep impact on the economy of the country
The mining activities are being done mostly using the traditional approach by the local workers. The mining activities are mostly being carried out in alluvial deposits, shallow pits or deeper shaft type pits and tunnels.
The main areas where these gem mining activities are concentrated principally in the following areas: Badulla, Ratnapura, and Monaragala.
The manufacturing activities comprise jewelry manufacturer and gem cutting. Gem cutting refers to molding the gem in a particular shape so that it appears more attractive and demanding.
Aside from this, jewelry has also been molded and polished to make it look more desirable. It is estimated as per a study that there are 3000 thousand manufacturing units spread around the city.
The third and most important activity is the trading of gemstones. It mainly comprises four activities importing, exporting, wholesaling and retailing.
It is estimated as per the recent studies that the aggregated value of gem and jewelry trade is 55 million as of now and it continuously rises upward.
The Sri Lankan gem market consumption can be fragmented into the three categories domestic, tourist and export.
Apart from the domestic consumption of these gemstones and jewelry, people all across the globe are quite enthralled to purchase gems of Sri Lanka. Hence, tourists from all around the world visit Sri Lanka occasionally to purchase gems and jewelry of different designs and types.
Due to its extremely rich quality, Sri Lankan gem or jewelry have been exported all across the globe in large numbers. And, going by the current export figure, it would not be an exaggeration to state that in upcoming years this trend will go all the way up only.
Although, Sri Lanka is famous for contributing all types of minerals to the world, yet the corundum and sapphires find in Sri Lanka are classified as the best types of sapphires (yellow sapphire, blue sapphire, ruby) and corundum discovered all around the world.
In the context of the Sri Lankan economy, gemstones and jewelry will have a valuable impact in the upcoming years to facilitate employment and keeping the economy steady.
As far as the global context is concerned, the island of mineral Sri Lanka will continue to be the most desirable place to look for sapphires and diamond.