Amidst the global geopolitical tension, India’s gems and jewellery exports fell by 11.72% in FY25, which costs USD 28.5 billion due to weak demand in world market
Mumbai – India is a world leader in gems and jewellery export, but it’s bad news for India now, it’s gems and jewellery exports declined by 11.72 % to $ 28.5 billion USD (Rs. 2.41 lakh crore) in financial year 2024-25 compared to the earlier financial year due to continued uncertain geopolitical tensions as per information FROM Gem & Jewellery Export Promotion Council (GJEPC).
As per data provided by GJEPC the overall gems and jewellery exports in year 2923-24 stood at USD 32.2 billion (Rs 2.67 lakh crore).
However, at the ending month March of the financial year, the overall exports improved slightly by a slight growth of 1.02 % at $2,582.97 million USD (Rs. 22,340.89 crore) in comparison to $ 2,556.97 million USD (Rs. 21,228.71 crore) in the same month of the previous year
GJEPC Chairman Kirit Bhansali told to news agency PTI that the current decline in gems and jewellery exports is mainly due uncertainty in the global market due to ongoing geopolitical tension, and continuous dip in demand in China as well as the US, the key export markets of India. Other reason the correction in rough diamond prices by 10-15 % also impacted the value, causing the overall decline in exports.
In financial year 2024-25 the overall exports of Cut and Polished diamonds (CPD) dipped by 16.75 % at $13,292.0 million USD (Rs. 1.12 lakh crore) compared to $15,967.02 million USD (R.s 1.32 lakh crore) for the same period of the 2023-24.
As per the information the export of polished lab-grown diamonds in the last financial quarter (April 2024- March 2025) declined by 9.64 % at $1,267.26 million USD (Rs. 10,716.13 crore), against the previous year $1,402.44 million USD (Rs. 11,612.36 crore).
Total gold jewellery exports dipped 0.11 % during FY25 at $11,215.46 million USD (Rs. 94,937.78 crore) against $11,227.72 million USD (Rs. 93,066.82 crore) in FY24.
Silver jewellery exports in FY25 dipped sharpely by 40.58 % at $ 961.79 million USD (Rs. 8,115.32 crore), compared with $ 1,618.63 million USD (Rs. 13,424.4 crore) in the previous year.
However, exports of platinum jewellery in FY25 witnessed a growth of 11.79 % at $182.75 million USD (Rs 1,547.3 crore) against $163.48 million USD (Rs 1,354.41 crore) for the previous year.
Source: PTI
