Gold jewellery exports dipped to $1.22 billion
| Photo Credit:
SHAILESH ANDRADE
Gems and jewellery exports increased 20 per cent in November to $2.51 billion against $2.10 billion logged in the same period last year, on the back of lower base, better realisation and market diversification due to the US trade tariff.
In rupees terms, it was up 26 per cent to ₹22,300 crore (₹17,709 crore) due to currency depreciation, according to the data released by the Gem and Jewellery Export Promotion Council of India.
On the other hand, imports of gems and jewellery jumped 36 per cent to $1.89 billion ($1.39 billion) while in rupee terms it increased 43 per cent to ₹16,835 crore (₹11,757 crore).
Growth drivers
Higher exports indicate improved international market traction, better price realisation and increased competitiveness of Indian products, while the sharp rise was due to proactive raw material sourcing and capacity expansion by manufacturers to meet the demand in upcoming holiday season in the West and wedding season in the domestic market.
Cut and polished diamond exports were up 38 per cent at $920 million ($666 million) due to restocking by international buyers ahead of the Christmas season. Imports of cut and polished diamonds more than tripled to $191 million ($54 million).
Gold jewellery exports dipped to $1.22 billion ($1.23 billion) while in rupee terms it was up 4 per cent due to rupee depreciation.
Though gold jewellery exports fell marginally, jewellers are focusing more on domestic markets with the forthcoming wedding season in India and strong domestic demand, driven by expectations of higher gold prices ahead.
Colin Shah, MD, Kama Jewelry, said the gems and jewellery sector has shown resilience amid global headwinds due to US tariff and subdued demand in the international markets.
The gradual uptick in cross-border trade was largely driven by revival in demand ahead of holiday season, he said.
The government has been taking measures to sign FTAs in alternative markets other than the US to boost gems and jewellery trade, he said.
“We are likely to see this sentiment strengthen further as we step into 2026,” he added.
Revival in last 8 months
In the first eight months of this fiscal, exports were up marginally at $18.86 billion (₹1.64 lakh crore) against $18.85 billion (₹1.58 lakh crore).
Imports of gems and jewellery also jumped by 7 per cent to $13.82 billion (₹1.20 lakh crore) against $12.93 billion (₹1.08 lakh crore) logged in same period of previous year.
Steady exports and rising imports indicate strong domestic demand, active manufacturing and confidence ahead of the festive and wedding seasons, said Shah.
Since April to November, exports of cut and polished diamond declined 9 per cent to $8.19 billion ($8.98 billion). However, imports grew marginally to $895 million ($894 million).
Published on December 14, 2025
