Rising and Shining: Gems and Jewellery sector shows robust market activity, traders beaming with hope

According to data released by the Gems and Jewellery Export Promotion Council (GJEPC), the overall gross exports of Gems and Jewellery was US$ 2510.86 million (Rs. 22,300.45 crore) in the month of November 2025, showing a growth of 19.64 percent as compared to US$ 2,098.59 million (Rs. 17,708.59 crore) for the same period the previous year.

On the other hand, the overall gross imports of Gems and Jewellery at US$ 1,894.92 million (Rs. 16,834.79 crore) in November 2025 shows a growth of 36.01 percent as compared to US$ 1,393.23 million (Rs. 11,757.49 crore) for the same period the previous year.

While, from April to November 2025, the overall gross exports at US$ 18,867.43 million (Rs. 16,4219.21 crore) showed a growth of 0.07 percent as compared to US$ 18,854.83 million (Rs. 15,7912.81 crore) for the same period the previous year, the overall gross imports at US$ 13,820.863 million (Rs. 12,0137.91 crore) showed a growth of 6.87 percent as compared to US$ 12,932.06 million (Rs. 10,8250.6 crore) for the same period the previous year.

Steady exports and rising imports indicate strong domestic demand, active manufacturing, and confidence ahead of the festive and wedding seasons.

The strong growth in both export and import of gems and jewellery in November 2025 reflects a revival in global demand and renewed confidence across the value chain, the release said.

Higher exports indicate improved international market traction, better price realization, and increased competitiveness of Indian products, while the sharp rise in imports highlights proactive raw material sourcing and capacity expansion by manufacturers to meet the demand in the upcoming holiday season in the West, and wedding season in the domestic market.

Together, this balanced export–import growth underscores robust trade activity, strategic inventory build-up, and a positive outlook for sustained sectoral growth.

Along with this, multiple factors beyond seasonal demand, like product diversification into lightweight and contemporary designs, appealed to younger global consumers, while improved market access through trade agreements like the India-UAE CEPA enhanced competitiveness.

Cut and polished diamonds

 The overall gross export of Cut and Polished diamonds at US$ 919.74 million (Rs. 8,168.96 crore) in November 2025 is showing a growth of 38.03 percent as compared to US$ 666.34 million (Rs. 5,624.88 crore) for the same period the previous year.

This reflects a clear revival in global demand, supported by improved consumer sentiment, restocking by international buyers, and enhanced value addition by Indian diamantaires.

Higher growth in rupee terms further indicates better price realization and currency support, pointing to a healthy recovery and positive momentum for the diamond sector.

India being the global hub for diamond processing, is the preferred destination for majority of international players, hence reflecting an upsurge in cut and polished diamond exports.

Moreover, despite a moderation in overall exports during April–November 2025, the sharp rise in imports, particularly a significant surge in November 2025 reflects renewed confidence among manufacturers and traders.

Substantial increase in inventory purchases was driven by strong festive and wedding season demand, expectations of improved retail sales, and strategic stocking in anticipation of price stabilization and future export recovery.

This import growth indicates healthy domestic demand and a proactive industry outlook rather than market weakness.

Speaking on the trends, Colin Shah, MD, Kama Jewelry, said, “The Indian gems and jewellery sector has shown phenomenal resilience among global headwinds due to the tariff threat, and subdued demand in the international markets with the backdrop of geo-political tensions. Gradual-but-steady uptick in cross-border trade in November is primarily driven by two factors — revival of demand in the international markets amid the holiday season, and the peak of wedding season back in the homeland. It is commendable the way the government is taking measures to sign FTAs in markets other than the USA to boost gems and jewellery trade. We are likely to see this sentiment strengthen as we step into 2026, both internationally and domestically.”