India’s gems and jewellery exports declined by 9.07 per cent year-on-year in April to USD 2.23 billion (Rs 20,825 crore), reflecting the impact of geopolitical tensions and subdued global demand, according to data from the Gem & Jewellery Export Promotion Council.
The sector had recorded exports of USD 2.45 billion in April 2025, indicating a broad-based slowdown across key product categories amid ongoing disruptions linked to the West Asia conflict.
Industry officials attributed the decline primarily to geopolitical uncertainties, which have affected buyer sentiment in major markets, including the United States. Lack of clarity around tariff policies has also contributed to cautious ordering patterns.
Diamonds and Gold Jewellery See Sharp Drop
Exports of cut and polished diamonds, a major segment of India’s jewellery trade, fell 19.65 per cent to USD 890.91 million in April compared to the same period last year.
Polished lab-grown diamond exports also declined 15.53 per cent to USD 93.28 million, reflecting weaker global demand in both natural and synthetic segments.
Gold jewellery exports dropped 21.77 per cent to USD 841.54 million, while plain gold jewellery shipments saw a steeper contraction of 47.06 per cent to USD 341.08 million. However, studded gold jewellery exports bucked the trend, rising 16.02 per cent to USD 500.46 million, indicating selective demand resilience in higher-value segments.
Silver Jewellery Offers Bright Spot
In contrast, silver jewellery exports surged sharply, rising 444 per cent to USD 268.38 million in April from a low base in the previous year. Despite this growth, the overall sector remained under pressure due to declining demand in key categories and ongoing global uncertainties. Analysts note that geopolitical disruptions, particularly in West Asia, continue to weigh on trade flows and supply chains.
Recent reports also indicate that instability in the region has disrupted international trade routes and heightened uncertainty, affecting export-oriented industries such as gems and jewellery.
Outlook Remains Uncertain
Industry stakeholders expect near-term volatility to persist, with export performance likely to depend on geopolitical developments, clarity on trade policies and recovery in key international markets. While selective segments such as studded jewellery and silver exports have shown resilience, the broader outlook remains cautious amid ongoing global headwinds. |
