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India’s gem and jewellery exports rose 19 per cent in November to $2.52 billion from $2.09 billion a year earlier, driven by gains in cut and polished diamonds, gold, silver and platinum jewellery. 

The YoY improvement in November was due to a low base from November 2024, when Diwali holidays closed many manufacturing units. Exporters also attributed the growth during November to strong Christmas demand in the US and China, multiple media reports said.

However, for the April-November period, overall growth remains muted as the exports were flat at $18.86 billion in 2025 compared to $18.85 billion in 2024.

The April-November data indicated a gradual recovery shaped by seasonal demand and global market trends, reports said.

Analysts noted that Lab-grown diamond (LGD) jewellery is also seeing good traction as exports rose 10 per cent to $76 million in November but were down 11 per cent for April-November to $757 million.

Cut and polished diamond (CPD) exports surged 38 per cent to $919.74 million in November. Gold jewellery exports in November totalled $1.21 billion, marginally lower than $1.23 billion a year earlier.

Studded gold jewellery led gains, up 49.24 per cent in November to $828 million. Plain gold jewellery exports fell 42.17 per cent to $390 million for the month but grew 14.78 per cent for April-November to $3.53 billion, supported by a 44 per cent rise in gold prices in US dollars.

Silver jewellery surged 209 per cent to $198 million in November and rose 29.69 per cent to $930 million for April-November period.

Benefiting from a 35 per cent rise in platinum prices in US dollars, November exports nearly doubled to $30 million from $15 million in 2024.