5 days Ago By PTI
India's overall gems and jewellery exports declined by 11.72% to $28.5 billion (around Rs 2.
41 lakh crore) in 2024-25 compared to the previous financial year on continued geopolitical tensions, according to the Gem & Jewellery Export Promotion Council. The overall gems and jewellery exports stood at $32.2 billion (Rs 2.
67 lakh crore) in 2023-24, according to GJEPC data.However, in March, the exports improved slightly, witnessing a growth of 1.02% at $2,582.
97 million (Rs 22,340.89 crore), compared to $2,556.97 million (Rs 21,228.
71 crore) in the same month of the previous year, it added."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% impacted the value, causing the overall decline in exports," GJEPC Chairman Kirit Bhansali told PTI.
The overall exports of Cut and Polished diamonds dipped by 16.75% at $13,292.0 million (Rs 1.
12 lakh crore) compared to $15,967.02 million (Rs 1.32 lakh crore) for the same period of the previous year.
The export of polished lab-grown diamonds for the period of April 2024- March 2025 declined by 9.64 per cent at $1,267.26 million (Rs 10,716.
13 crore), against $1,402.44 million (Rs 11,612.36 crore) in the previous year.
Total gold jewellery exports during FY25 showed a decline of 0.11% at $11,215.46 million (Rs 94,937.
78 crore) against $11,227.72 million (Rs 93,066.82 crore) in fiscal 2024.
Silver jewellery exports in fiscal 2025 dipped by 40.58% at $961.79 million (Rs 8,115.
32 crore), compared with $1,618.63 million (Rs 13,424.4 crore) in the previous year.
However, exports of platinum jewellery in fiscal 2025 witnessed a growth of 11.79% at $182.75 million (Rs 1,547.
3 crore) against $163.48 million (Rs 1,354.41 crore) for the previous year.
Meanwhile, the coloured gemstone exports showed a decline of 8.01% during fiscal 2025 at $440.38 million (Rs 3,729.
93 crore), compared to $478.71 million (Rs 3,961.98 crore) in the previous year.
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