Amid global recession, rising tensions between countries, and high US tariffs, India’s gem and jewellery exports took a hit in June 2025. According to data from the Gem and Jewellery Export Promotion Council (GJEPC), exports dropped by 11.73% compared to June 2024, while imports saw a slight fall of 0.11%.
The biggest decline was in polished lab-grown diamonds, which saw a sharp 22.74% drop. Cut and polished diamond exports also fell significantly by 21.23%. In contrast, gold jewellery exports increased by 8.87%, reaching ₹5,415.71 crore in June 2025.
GJEPC data shows that exports in June 2024 stood at ₹15,836.94 crore. However, this number dropped to ₹13,978.98 crore this June. Imports slightly decreased from ₹13,322.76 crore to ₹13,308.49 crore.
Experts say the fall in diamond exports is mainly due to global instability, rising tariffs by the US, and a shift in consumer investment. In countries like China and the US, people are now preferring gold over diamonds. This trend is believed to be one of the key reasons behind the rise in gold jewellery exports.
The import of rough diamonds also declined by 4.36%, while coloured gemstone exports increased by 8.64%. The market shows clear signs of changing preferences, with gold gaining shine and diamonds losing their sparkle.
