India's Gems and Jewelry Exports Fall to $ 28.5 Billion in FY25
Due to ongoing geopolitical concerns, India's total gem and jewelry exports fell 11.72 percent to $ 28.5 billion (about Rs 2.41 lakh crore) in 2024–2025 from the previous fiscal year, according to the Gem & Jewellery Export Promotion Council (GJEPC).
According to GJEPC data, the total value of gem and jewelry exports in 2023–2024 was USD 32.2 billion (Rs 2.67 lakh crore).
Compared to USD 15,967.02 million (Rs 1.32 lakh crore) for the same time last year, the total exports of cut and polished diamonds (CPD) fell by 16.75 percent to $ 13,292.0 million (Rs 1.12 lakh crore).
"The decline in gems and jewellery exports is mainly due to the continuous dip in demand in China as well as the US, India's key export markets, due to the ongoing geopolitical tensions. Also, the correction in rough diamond prices by 10-15 per cent impacted the value, causing the overall decline in exports," GJEPC Chairman Kirit Bhansali said.
Compared to USD 15,967.02 million (Rs 1.32 lakh crore) for the same time last year, the total exports of cut and polished diamonds (CPD) fell by 16.75 percent to $ 13,292.0 million (Rs 1.12 lakh crore).
Between April 2024 and March 2025, polished lab-grown diamond exports fell 9.64 percent to $ 1,267.26 million (Rs 10,716.13 crore) from $ 1,402.44 million (Rs 11,612.36 crore) the year before.
The total amount of gold jewelry exported in FY25 was $ 11,215.46 million (Rs 94,937.78 crore), a 0.11 percent decrease from FY24's $ 11,227.72 million (Rs 93,066.82 crore).
Exports of silver jewelry fell 40.58 percent to USD 961.79 million (Rs 8,115.32 crore) in FY25 from USD 1,618.63 million (Rs 13,424.4 crore) the year before.
In FY25, platinum jewelry exports increased by 11.79 percent to USD 182.75 million (Rs 1,547.3 crore) from USD 163.48 million (Rs 1,354.41 crore) the year before.
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In the meantime, exports of colored gemstones decreased by 8.01 percent in FY25, reaching USD 440.38 million (Rs 3,729.93 crore) from USD 478.71 million (Rs 3,961.98 crore) the year before.