The Gem and Jewellery Export Promotion Council (GJEPC) said exports declined five per cent last month to $2.04 billion compared with $2.13 billion in the same period a year ago, due to escalating geopolitical tensions and the recently introduced Trump-era tariffs.
On the other hand, the overall imports of gems and jewellery declined to $1.57 billion against $1.90 billion a year ago.
Cut and polished diamond exports dipped 6 per cent to $1.11 billion ($1.18 billion). Major consumer markets including the US and China are witnessing a slowdown in demand as people are increasingly opting to invest in gold as a safe haven during times of uncertainty leading to a decline in Indian diamond exports. Parallelly, the growing demand for lab-grown diamonds (LGDs) are also posing a major hurdle for the natural counterpart.
Similarly, the overall gross imports of cut and polished diamonds saw a decline of 46 per cent in April to $48 million ($88 million). Rough diamond imports were up marginally at $1.20 billion ($1.19 billion).
Polished LGDs export edged up to $111 million ($110 million) due to steady increase in demand among youngsters.
Gold jewellery declined 5 per cent to $685 million due to steady rise in prices owing to geopolitical scenarios and economic instability. Coloured gemstones shipments were up 12 per cent at $28 million.
Colin Shah, MD, Kama Jewelry, said besides the US tariff war shaking the global economy, the prolonged geopolitical tensions in West Asia and Russia-Ukraine conflict deterred consumer sentiments.
The US-China trade war continues to spread a wave of uncertainty across the globe, he added.
Going forward, he said trade activities are expected to gain momentum following recent talks between the world’s two major markets — the US and China — on tariffs, which are likely to ease the situation in the coming months.
Published on May 13, 2025
The Gem and Jewellery Export Promotion Council (GJEPC) said exports declined five per cent last month to $2.04 billion compared with $2.13 billion in the same period a year ago, due to escalating geopolitical tensions and the recently introduced Trump-era tariffs.
On the other hand, the overall imports of gems and jewellery declined to $1.57 billion against $1.90 billion a year ago.
Cut and polished diamond exports dipped 6 per cent to $1.11 billion ($1.18 billion). Major consumer markets including the US and China are witnessing a slowdown in demand as people are increasingly opting to invest in gold as a safe haven during times of uncertainty leading to a decline in Indian diamond exports. Parallelly, the growing demand for lab-grown diamonds (LGDs) are also posing a major hurdle for the natural counterpart.
Similarly, the overall gross imports of cut and polished diamonds saw a decline of 46 per cent in April to $48 million ($88 million). Rough diamond imports were up marginally at $1.20 billion ($1.19 billion).
Polished LGDs export edged up to $111 million ($110 million) due to steady increase in demand among youngsters.
Gold jewellery declined 5 per cent to $685 million due to steady rise in prices owing to geopolitical scenarios and economic instability. Coloured gemstones shipments were up 12 per cent at $28 million.
Colin Shah, MD, Kama Jewelry, said besides the US tariff war shaking the global economy, the prolonged geopolitical tensions in West Asia and Russia-Ukraine conflict deterred consumer sentiments.
The US-China trade war continues to spread a wave of uncertainty across the globe, he added.
Going forward, he said trade activities are expected to gain momentum following recent talks between the world’s two major markets — the US and China — on tariffs, which are likely to ease the situation in the coming months.
Published on May 13, 2025
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The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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