The total gems and jewellery exports declined 15.81% to $2,263.42 million (₹19,260.81 crore) in May in contrast to the identical interval of the earlier yr following tariff announcement by the U.S., GJEPC mentioned on Tuesday.
The trade exports stood at $2,688.38 million (₹22,414.02 crore) throughout the identical interval of 2024, in accordance to Gems and Jewellery Export Promotion Council (GJEPC) knowledge.
Exports of lower and polished diamonds declined 35.49% in May to $949.70 million (₹8,089.81 crore) in contrast to $1,472.08 million (₹12,272.03 crores) for a similar interval of earlier yr.
Meanwhile, exports of polished lab-grown diamonds in May declined 32.7% to $80.90 million (₹689.71 crore) from $120.32 million (₹1,003.06 crore) for the earlier yr.
However, gold jewellery exports went up 17.24% to $997.50 million (₹8,482.61 crore) as in contrast to $850.81 million (₹7,094.52 crore) for a similar interval of earlier yr.
Gross exports of silver jewellery throughout April-May declined 17.59% to $150.08 million (₹1,281.92 crore) towards $182.11 million (₹1,518.69 crore) in the identical interval of earlier yr.
Overall exports of colored gem stones throughout April-May confirmed a decline of 1.13% to $62.51 million (₹533.08 crore) towards $63.22 million (₹527.36 crore) in the identical interval final yr.
“The overall exports continue to decline and in May the dip was 15.81% mainly due to the tariffs announcement by the US. However, gold jewellery exports have gone up due to the continuing geopolitical tensions in the Middle East, which has increased the demand for the precious metal as a safe haven,” GJEPC Chairman Kirit Bhansali advised PTI.
Published – June 17, 2025 10:58 pm IST
