India's exports of jewellery witnessed a decline of 9.07 per cent in April 2025, primarily driven by ongoing geopolitical tensions in the Middle East and uncertainty in key global markets, according to data released by the Gem & Jewellery Export Promotion Council (GJEPC).
Overall Export Figures
The overall exports from the sector stood at $2,226.45 million (Rs 20,825.01 crore) in April 2025, down from $2,448.53 million (Rs 20,952.26 crore) recorded in the same month last year. This drop reflects the challenging environment faced by the industry due to external disruptions.
Reasons Behind the Decline
GJEPC Chairman Kirit Bhansali attributed the downturn to multiple external factors. He stated that the decline in exports is mainly due to the ongoing conflict in West Asia, which has caused worldwide disruptions affecting the export of gems and jewellery. Additionally, he noted that exports to the United States, a major market for the industry, were impacted because there is still no clarity on tariffs. These uncertainties have made it difficult for exporters to plan and execute shipments effectively.
Segment-Wise Performance
The performance varied significantly across different segments of the jewellery sector. Cut and polished diamond exports fell sharply by 19.65 per cent to $890.91 million from $1,108.74 million a year earlier. Similarly, polished lab-grown diamond exports also declined by 15.53 per cent to $93.28 million compared to $110.43 million last year.
Gold Jewellery Exports
Gold jewellery exports experienced a substantial drop of 21.77 per cent to $841.54 million, down from $1,075.67 million in the corresponding period last year. Within this segment, plain gold jewellery exports saw a sharper fall of 47.06 per cent to $341.08 million from $644.33 million. In contrast, studded gold jewellery exports rose by 16.02 per cent to $500.46 million from $431.35 million, indicating a shift in consumer preference towards studded designs.
Silver Jewellery Surge
In a notable contrast, silver jewellery exports surged dramatically, rising by an impressive 444 per cent to $268.38 million compared to $49.33 million in the same month last year. This remarkable growth highlights the increasing demand for silver jewellery in international markets.
Future Outlook
The jewellery export sector continues to face headwinds from geopolitical tensions and trade policy uncertainties. Industry experts suggest that stability in the Middle East and clarity on US tariffs will be crucial for recovery. Meanwhile, the strong performance of silver jewellery exports offers a silver lining, indicating diversification opportunities for Indian exporters.
