India’s gems and jewellery exports rose nearly 20 per cent year-on-year to $2.5 billion in November, buoyed by higher shipments of cut and polished diamonds, studded gold jewellery and silver items, according to provisional data released by the Gem and Jewellery Export Promotion Council (GJEPC), media reported.
Exports stood at $2.1 billion in November last year. However, cumulative exports for April–November remained broadly unchanged at $18.86 billion compared with $18.85 billion in the corresponding period of 2023–24, reflecting uneven global demand conditions across major markets.
Cut and polished diamonds logged a sharp increase in November, with gross exports rising to $919.74 million from $666.34 million a year earlier. Lab-grown polished diamonds also registered growth of 10.55 per cent, touching $76.09 million against $68.83 million last year.
Gold jewellery exports remained largely flat at $1.21 billion versus $1.23 billion a year ago as volatility in global prices continued to weigh on orders. In contrast, studded gold jewellery exports surged to $828.89 million from $555.39 million on the back of higher job-work demand in India.
Silver jewellery shipments posted one of the strongest recoveries, soaring to $197.97 million from $63.99 million after supply constraints in previous months eased.
“Markets are stabilising and demand in many export destinations is picking up, including Hong Kong, China and the Middle East. Even as performance in the US remains slow, robust demand elsewhere is supporting growth,” GJEPC chairman Kirit Bhansali said. He added that gold studded jewellery exports surged as job-work orders increased, while silver shipments rebounded with supply chains normalising.
Despite the mixed trend across categories, industry leaders expect export momentum to improve in the coming months as inventories stabilise and global retail demand turns more favourable.