- Gems & Jewellery Exports Decline by 23.49%, Imports Down 40.04% in February 2025
Udyamee, Ahmedabad:
The latest data released by the Gems and Jewellery Export Promotion Council (GJEPC) reveals that a continuous rise in gold prices and tariff threats by U.S. President Donald Trump have negatively impacted gold exports from India in February this year.
According to the data, the total gross export of gold jewellery in February stood at Rs. 6,549.46 crores, reflecting a decline of 18.09% compared to Rs. 7,624.37 crores during the same period last year.
The overall gross exports of gems and jewellery in February 2025 were recorded at Rs. 21,085.03 crores, a decline of 23.49% from Rs. 26,268.6 crores in February 2024. On the import side, total gems and jewellery imports stood at Rs. 11,858.65 crores, marking a decline of 40.04% compared to Rs. 18,854.09 crores in the same period last year.
Colin Shah, MD of Kama Jewelry, commented: “Trump’s return to power and his tariff threats continue to impact the global market, creating a ripple effect in the domestic sector as well. This is reflected in the export-import trade activities, which have seen a decline in the past month. Moving forward, it will be crucial to monitor Trump’s tariff policies, as they will determine the direction of trade activities in the near future.”
While some of this decline can be attributed to a seasonal dip in demand, the Indian gems and jewellery sector may develop resilience and shift focus toward meeting domestic demand.
Cut and Polished Diamonds
The gross export of cut and polished diamonds declined by 20.2% in February, standing at Rs. 11,860.71 crores, compared to Rs. 14,164.1 crores in February 2024. Due to economic uncertainty, consumer demand remains subdued in two major global markets, leading to inventory buildup and an overall slowdown in Indian diamond exports. Similarly, gross imports of cut and polished diamonds declined by 7.97%, standing at Rs. 1,044.59 crores compared to Rs. 1,082.17 crores in the same period last year.
Polished Lab-Grown Diamonds
- Gross imports of rough diamonds stood at Rs. 80,090.86 crores, marking a decline of 26.18% from Rs. 1,06,477.38 crores in February 2024.
- The total gross export of polished lab-grown diamonds declined by 19.58%, reaching Rs. 975.22 crores compared to Rs. 1,155.79 crores in the previous year.
Coloured Gemstones
The provisional gross export of coloured gemstones in February 2025 stood at Rs. 3,529.24 crores, showing a decline of 8.5% compared to Rs. 3,772.52 crores in the same period last year. Since coloured gemstones cater to a niche market, short-term downturns are unlikely to have a lasting impact, as demand in this segment tends to recover quickly.
