Gems, jewellery exports dip 4.98 pc in Dec to USD 1,883.85 mn: GJEPC

Mumbai, Jan 16 (PTI) India's overall gems and jewellery exports witnessed a 4.98 per cent on-year decline to USD 1,883.85 million (Rs 16,978.44 crore) in December 2025, as geopolitical uncertainties affected demand in key export markets, the Gem and Jewellery Export Promotion Council (GJEPC) said on Friday.

The total gem and jewellery exports stood at USD 1,982.62 million (Rs 16,843.87 crores) in December 2024, GJEPC stated.

Exports were almost flat during April-December 2025 at USD 20,751.28 million, a decline of 0.41 per cent, compared to USD 20,837.45 million for the same period of the previous year.

The near-flat performance highlights market stabilisation, with strong growth in jewellery exports, particularly gold, silver and platinum jewellery, offsetting moderation in cut and polished diamonds and lab-grown diamonds, GJEPC stated.

"This trend reflects the industry's ability to adapt through product mix optimisation, value addition, and diversified export destinations," GJEPC chairman Kirit Bhansali said.

A key stabilising factor has been the industry's ability to leverage Free Trade Agreements (FTAs) and deepen its presence in alternative markets.

Exports to the United Arab Emirates rose 28.08 per cent year-on-year to USD 6.89 billion, while shipments to Hong Kong increased 28.19 per cent to USD 4.25 billion.

Exports to Australia also recorded strong growth, rising 39.83 per cent to USD 277.76 million, underscoring the growing importance of diversified and FTA-supported markets.

However, exports to the United States witnessed a year-on-year decline of 44.42 per cent during April-December 2025, to USD 3.86 billion, compared to USD 6.95 billion in the corresponding period last year, the GJEPC data showed.

In December 2025, exports to the US declined by 50.44 per cent year-on-year, reflecting the continued impact of tariff-related pressures and subdued discretionary demand.

"The US remains India's largest export destination, accounting for nearly 30 per cent of our gem and jewellery exports. The sharp decline in shipments is a matter of serious concern.

"Prolonged uncertainty around tariffs could adversely impact the long-term viability of the US market for Indian jewellery exporters. That said, we have full faith in the government and remain hopeful that ongoing bilateral trade discussions will lead to a positive and timely resolution," Bhansali said.

Meanwhile, the overall gross export of Cut and Polished diamonds grew by 2.7 per cent in December at USD 794.93 million, as against USD 774.02 million for the same period of the previous year.

Export of Polished Lab Grown Diamonds declined by 2.56 per cent to USD 82.87 million in December over USD 85.04 million in the same month of 2024.

Total exports of gold jewellery dipped by 16.31 per cent to USD 732.28 million in December 2025, compared with USD 875 million for the same period the previous year.

Silver jewellery exports surged by 248.74 per cent in the previous month at USD 179.46 million compared to USD 51.46 million in the corresponding month of 2024.

"FTAs with the UAE and Australia have come at a crucial time for the industry. Recent FTAs with the UK, Oman, New Zealand and others will further enhance competitiveness by reducing duties and easing trade barriers.

"With the Government currently negotiating multiple trade agreements, we are confident these will open new markets and strengthen India's position globally on quality, value and trust," Bhansali added. PTI SM DRR