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India’s gems and jewellery exports saw a sharp decline of 14.25% in June 2025, falling to $1.63 billion (₹13,979 crore) from $1.9 billion (₹15,837 crore) in the same month last year, according to fresh data released by the Gems and Jewellery Export Promotion Council (GJEPC).
The drop was largely attributed to soaring gold prices, subdued global demand, and a sluggish domestic market.
Among the hardest hit segments were cut and polished diamonds, which registered a steep 23.5% fall in exports to $778.8 million. Imports of these diamonds also dropped by 7%, reflecting weak trading sentiment amid ongoing demand softness in key markets like the US and China. Rough diamond imports were down 5.1% as traders focused on offloading older inventory.
Lab-grown polished diamonds fared no better, with exports tumbling nearly 25% to $66.7 million. Increased production from China and intensifying price competition have dented India’s dominance in the segment.
However, there were some bright spots. Gold jewellery exports rose 5.75% to $630.3 million, driven by renewed demand from the Middle East, Southeast Asia, and the United States. Industry analysts say investors are turning to gold as a safe-haven asset amid global economic uncertainty.
Platinum jewellery also posted impressive growth, with exports rising 13.56% to $45.7 million. The surge was fueled by growing popularity among younger consumers and men, especially in the US, Japan, and China.
Coloured gemstone exports increased by 6.06% to $96.7 million, supported by strong bridal and designer jewellery trends and celebrity endorsements.
Overall imports of gems and jewellery dipped by nearly 3% to $1.55 billion, mirroring the cautious market outlook.
Despite the decline in overall exports, industry players remain hopeful that demand will rebound in the latter half of the year as festive and wedding seasons approach in India and abroad.
