·
Cut & Polished diamonds exports show a decline
of (-)6.29%
·
Rough diamond imports have
shown a growth of (+) 3.18%
·
Polished Lab Grown Diamond exports shows a
decline of (-) 2.29%
·
Gold Jewellery export up by 63.24%
·
Platinum Jewellery export shown
growth of (+)13.52%
·
Coloured Gemstone exports down by
of (-) 4.46%
16th September 2025: As per the
data released by the Gems and Jewellery Export Promotion Council (GJEPC), the
apex body for gems and jewellery in India the overall gross exports of Gems
& Jewellery at US$ 2117.05 million (Rs. 18529.08 crores) in the month of
August 2025 is showing a growth of (+)5.12% (9.67% in Rs. term) as compared to
US$ 2013.93 million (Rs. 16896.04 crores) for the same period of previous year.
While the primary growth trigger is the rush among Indian exporters to minimize
the impact of tariff threat, other positive elements including Free Trade
Agreements (FTAs) such as India-UAE CEPA, and reduced duties on imports for raw
materials have also played a pivotal role.
On the other hand, The overall gross imports of Gems & Jewellery at
US$ 1471.85 million (Rs. 12887.18 crores) in month of AUG 2025 is showing a
growth of (+) 0.77% (5.17% in Rs. term) as compared to US$ 1460.56 million (Rs.
12253.84 crores) for the same period of previous year. This rise is marginal in
nature and reflects a steady demand for raw and semi-finished products back in
the home country to support production for the upcoming holiday season
internationally as well as domestic festive demand.
Cut and Polished Diamonds: The
overall gross export of Cut & Polished diamonds at US$ 972.29 million (Rs.
8508.66 crores) in the month of August 2025 is showing a decline of (-)6.29%
(-2.260% in Rs. Term) as compared to US$ 1037.59 million (Rs. 8705.35 crores)
for the same period of previous year. The decline in exports of cut and
polished diamonds in August 2025 can be attributed to the rising affinity
towards yellow metal in the US and Europe, where sluggish spending on luxury
items caused overall demand to fall.
Retailers across major market are also witnessing a slump in sales,
inflating the unsold inventory which slowed down new purchases. Parallelly, the
continued increase in the global demand for lab-grown diamonds on the backdrop
of being environment-friendly and cost-effective have also eaten up some share
of natural diamond from the demand pie.
Similarly, the overall gross imports of Cut & Polished diamonds at US$ 112.70 million (Rs. 986.18 crores) in month of AUG 2025 is showing a decline of (-)3.65% (0.49% in Rs. term) as compared to US$ 116.97 million (Rs. 981.40 crores) for the same period of previous year. The decline in cut and polished diamond imports in August 2025 reflects a slump in buying from domestic traders and manufacturers due to global price corrections and slower retail offtake.
With procurement on the cautious side and overall inventory
remaining comfortable, purchases of new stock were even more limited. Having
said that, domestic consumption is likely to pick up on the backdrop of festive
season.
Rough Diamonds: Gross
imports of rough diamonds at US$ 5142.55 million (Rs 44205.64 crores) in APR
2025 - AUG 2025 have shown a growth of (+) 3.18% (6.22% Rs. term) compared with
the imports at US$ 4984.15 million (Rs. 41616.04 crores) for previous year.
India remained the world's cutting and polishing center and received more rough
diamonds. Rupee depreciation also inflated import values in INR terms (+6.22%)
even though dollar growth was soft. While demand for natural polished diamonds
remains weak, some rough categories showed improvements in buying as players
saw the long-term supply limited into the festive supply.
Platinum:
Provisional gross export of Platinum Jewellery for the period APR 2025 - AUG
2025 at US$ 83.15 million (Rs. 715.91 crores) shown growth of (+)13.52% (16.97%
Rs. term) over the comparative figure of US$ 73.25 million (Rs. 612.06 crores)
for previous year. The increase in platinum usage in men's jewellery and the
move toward branded collections accelerated turnover at the retail front.
Turnover was positively impacted by festive and wedding season demand, as well
by international retailers who were restocking ahead of their winter wedding
season. In addition, depreciation of the rupee against the dollar improved INR
realizations and supported overall increases in value.
Polished Lab Grown Diamonds: Provisional
gross export of Polished Lab Grown Diamonds for the period August 2025 at US$
97.80 million (in Rs. 855.67 crores) shows a decline of (-) 2.29% (+1.90% in
Rs. term) over the comparative figure of US$ 100.09 million (Rs. 839.72 crores)
for the previous year. The drop in lab-grown diamond exports (in dollar value)
in August 2025 was primarily due to price corrections in the global LGD market,
as the pressures of oversupply, and increasing competitive offer from other
manufacturing hubs, had an impact on realizations. However, the fact that
international demand remained steady, particularly from the US and Europe, the
rupee depreciated, and that INR exports were positive (+1.90%) somewhat
buffered the overall output.
Gold
Jewellery: The total export of Plain Gold
Jewellery at US$ 419.51 million (Rs. 3672.77 crores) in month of AUG 2025 is
showing a growth of (+) 63.24(70.36% in Rs. term) as compared to US$ 256.99
million (Rs. 2155.95 crores) for the same period of previous year. The robust
growth seen in plain gold jewellery exports during August 2025 was supported by
strong demand in key markets, particularly the Middle East and US, in the
context of festive and wedding purchases particularly strengthened by the
India-UAE CEPA. A worldwide consumer interest to buy lightweight and everyday
wear led to orders being stimulated, as did international retail stock builds
before festive and wedding buying later this year. Furthermore, government
policy support such as cuts in customs duties and facilitation of trade have
made Indian exports more competitive in international markets.
Silver Jewellery: Provisional gross export of Silver Jewellery for the period APR 2025 - AUG 2025 at US$ 419.09 million (Rs. 3613.06 crores) shows growth of (+) 12.48% ( 16.06% Rs. term) over the comparative figure of US$ 372.6 million (Rs. 3113.05 crores) for previous year. The growth in silver jewellery exports during April – August 2025 was improved by the growing global demand for affordable precious jewellery. Overall silver is becoming more popular as a stylish and affordable alternative to gold. With more lightweight and contemporary design acceptance from especially younger consumers, export orders were better.
Silver
collections are also becoming more branded and aligned with the fashion
community which directly supported better orders from overseas markets.
Restocking of festive and wedding-related inventory by overseas retailers added
some additional cargo. Additionally, the depreciation of the rupee against the
US dollar, created better realizations in INR terms and therefore, higher value
growth.
Coloured Gemstones: Provisional
gross export of Coloured Gemstones for the period APR 2025 - AUG 2025 at US$
149.44 million (in Rs. 1284.59 crores) shows decline of (-) 4.46% (1.74% in Rs.
term) over the comparative figure of US$ 156.41 million (Rs. 1307.31 crores)
for previous year. The demand dynamics of coloured gemstones rely little on the
macro and micro-economic factors and is more so to do with real-time trends,
with the buyers’ category being a niche.
Commenting on the same, Mr. Colin Shah, MD, Kama Jewelry said, “The
Indian gems & jewellery sector is evolving with sheer agility to absorb the
jitters of US tariffs and economic uncertainty it has created. There were
strong numbers in August 2025 showing growth and density of exports to
international markets, highlighting the rush among the exporters community to
conduct trade early and get saved from the tariffs.
Parallelly, fresh opportunities as close
alternatives to the US due to trade deals (eg: India-UAE CEPA), and consumers
are increasingly gravitating toward sustainable, premium, and custom jewellery.
Highly priced gold, global volatility, and volatile metal markets are
persistent challenges, but coming out of the upcoming festive and wedding
season will bring new energy to the sector.”
