Gems & Jewellery exports decline by 23.49%, imports down 40.04% in February 2025 by Kama Jewelry
As per the data released by the Gems and Jewellery Export Promotion Council (GJEPC), the apex body for the Gems & Jewellery Industry in India, the overall gross exports of Gems & Jewellery in February 2025 stood at USD 2422.9 million (Rs. 21085.030 crores), showing a decline of 23.49% compared to USD 3166.66 million (Rs. 26268.6 crores) for the same period last year. This downtrend is primarily influenced by the global economic uncertainty due to the Tariff Threats by Trump.
The overall imports of Gems & Jewellery for February 2025 stood at USD 1362.62 million (Rs. 11858.65 crores) showing a decline of 40.04% as compared to USD 2272.51 million (Rs. 18854.09 crores) for the same period last year. While this to some extent can be due to the seasonal dip in demand, the possibility of Indian gems & jewellery sector gaining resilience to contribute to the domestic demand cannot be ruled out.
Cut and Polished Diamonds : The overall gross export of Cut & Polished diamonds declined by 20.2% in February 2025, standing at 1362.67 million (Rs. 11860.71 crores) compared to 1707.62 million (Rs. 14164.1 crores) for the corresponding period last year. Due to the economic uncertainty, the consumer demand remains subdued in two major markets of the world that has led to piling up of inventory, and ultimately a slowdown in Indian diamond exports.
Similarly, the overall gross imports of cut & polished diamonds saw a decline of 7.97%, which stood at USD 120.03 million (Rs. 1044.59 crores) when compared to USD 130.43 million (Rs. 1082.17 crores) for the same period last year.
Rough Diamonds: Gross imports of rough diamonds stood at 9503.60 million (Rs 80090.86 crores) in February 2025, showing a decline of 26.18% when compared with the imports for the same period last year which stood at USD 12873.51 million (Rs. 106477.38 crores). This decline goes hand-in-hand with the dip in Cut & Polished diamond exports slowing down the entire supply-chain. As an immediate effect of the same, the import of rough diamonds is also witnessing a downfall.
Polished Lab Grown Diamonds: The total gross export of Polished Lab Grown Diamonds during February 2025 stood at USD 112.05 million (in Rs. 975.22 crores) showing a decline of 19.58% as compared to USD 139.33 million (Rs. 1155.79 crores) for the previous year. This is due to the weak demand in the international markets. Also, price fluctuations in this category is also another reason which is pushing demand downwards in the overall global markets.
Gold Jewellery: The total gross export of Gold Jewellery in February 2025 stood at USD 752.76 million (Rs. 6549.46 crores), showing a decline of 18.09% compared to USD 919.04 million (Rs. 7624.37 crores) for the same period last year. This is due to the global economic uncertainty which has pushed consumers to invest in the safe-haven assets like gold which has been witnessing constant price rise.
Coloured Gemstones: Provisional gross export of Coloured Gemstones during February 2025 stood at USD 417.15 million (in Rs. 3529.24 crores) witnessing a decline of 8.5% compared to USD 455.89 million (Rs. 3772.52 crores) for the same period last year. Since this is a very niche category, any downtrend will not affect this segment as the demand has the tendency to pick pace.
Commenting on the same, Mr. Colin Shah, MD, Kama Jewelry said, “Trump’s return to power and his tariff threats continues to affect the global market, which has created a ripple effect in the domestic market as well. The same can be reflected in the export-import trade activities which has seen a dip in the last month. Going forward, the situation needs to be monitored regarding Trump’s tariff stance to get a clear picture, which will decide the course of trade activities in the near future.”
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