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Gem, jewellery exports decline 23% in Feb 2025

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The gem and jewellery industry is an important part of India’s economy, contributing significantly to exports. However, in recent times, the industry has been facing a downturn. According to the data provided by the Gems and Jewellery Export Promotion Council, the exports of gems and jewellery fell by 23% last month, amounting to $2.42 billion, compared to $3.17 billion in the same period last year. In rupee terms, the exports declined by 20% to ₹21,085 crore from ₹26,269 crore.

One of the major reasons for this decline is global economic uncertainty. The tariff threats imposed by former US President Donald Trump affected international trade, leading to a decrease in demand for gems and jewellery, especially in key markets like the United States and China.

The export of cut and polished diamonds, which is a major part of the industry, fell by 20% in February, dropping to $1.36 billion from $1.71 billion. The weak consumer demand in major markets led to a slowdown in India’s diamond exports, as businesses struggled with piling inventory. Additionally, the import of rough diamonds also saw a sharp decline of 26%, reducing from $12.87 billion to $9.50 billion.

Lab-grown diamonds, which have gained popularity in recent years, also faced challenges. The export of polished lab-grown diamonds fell by 20%, reaching $112 million compared to $139 million last year. This drop was mainly due to price fluctuations and reduced consumer demand.

Gold jewellery exports also suffered a setback, falling by 18% in February to $753 million. One of the key reasons for this decline was the continuous rise in gold prices, which made jewellery more expensive and less affordable for buyers.

In conclusion, the gem and jewellery industry has been experiencing a significant decline due to economic challenges, fluctuating prices, and decreased consumer demand. If these trends continue, the industry may face further difficulties in the coming months. However, with proper government support, stable pricing, and renewed consumer interest, the industry may recover in the future.

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National News

KISNA Diamond & Gold Jewellery launches KISNA Digital Gold in partnership with SafeGold, expanding its omnichannel gold ecosystem

The launch underscores Limelight’s rapid national expansion as it continues to strengthen its retail presence across India.

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  • Marks KISNA’s entry into digital gold ownership, strengthening its omnichannel gold ecosystem
  • Allows customers to start owning gold digitally from Rs.10 with no lock-in
  • Bridges digital gold ownership with physical jewellery redemption across KISNA’s retail network

KISNA Diamond and Gold Jewellery, one of India’s foremost jewellery brands, today announced the launch of KISNA Digital Gold, a strategic move marking its entry into digital gold ownership through a partnership with SafeGold, a product of Digital Gold India Private Limited (DGIPL).

The launch marks KISNA’s entry into digital gold ownership, strengthening its omnichannel gold ecosystem and expanding how customers can engage with gold across digital and physical touchpoints. Through this partnership, KISNA enables customers to buy, sell and redeem digital gold in a safe, transparent and flexible manner, while extending the trust and credibility of its jewellery legacy into a seamless digital-first experience.

KISNA Digital Gold allows customers to begin their gold purchase with an amount as low as Rs.10, significantly lowering the entry barrier to gold ownership. Customers can buy gold in fractional quantities at live market-linked prices, with holdings credited in grams up to four decimal places.

The digital gold purchased is 24-karat gold of 995 fineness or higher purity, stored securely in insured vaults operated by internationally recognised precious metals custodians, with customers retaining full ownership at all times. Customers have the flexibility to sell their digital gold at prevailing prices or redeem it against physical gold jewellery at KISNA stores across India.

Commenting on the launch, Parag Shah, CEO, KISNA Diamond & Gold Jewellery, said: “The launch of KISNA Digital Gold marks a strategic step in expanding how consumers engage with gold. Enabled through SafeGold, the offering allows customers to start with just ₹10 and transact without any lock-in, making gold ownership more accessible and transparent. Over time, we see digital gold becoming a gateway to deeper jewellery relationships, allowing consumers to plan, save and seamlessly convert their digital holdings into physical jewellery through our retail network.”

Commenting on the partnership Rhea Chaterji, COO and Co-founder, SafeGold said: “Our partnership with KISNA brings together trusted jewellery craftsmanship and secure digital gold infrastructure. By combining asset-backed gold ownership, independent trustee oversight and insured custody, we aim to make digital gold a simple, transparent and reliable option for consumers looking to own gold with confidence.”

How KISNA Digital Gold works

  • Digital onboarding: Customers register on KISNA’s platform using basic details and a valid PAN card.
  • Buy gold starting at ₹10: Gold can be purchased at live prices in flexible amounts.

  • Secure custody: Purchased gold is stored in insured vaults with independent trustee oversight to safeguard customer ownership.
  • Transparent tracking: Customers can access real-time balances, invoices and holding statements online.
  • Sell or redeem: Gold can be sold digitally at prevailing prices or redeemed for physical jewellery at KISNA stores nationwide.

There is no lock-in period, offering customers complete flexibility in managing their gold holdings. The offering is currently available to resident Indian customers with a valid PAN card. While buying and selling is enabled digitally through the platform, customers can redeem their digital gold balance at KISNA’s extensive network of stores, seamlessly bridging digital ownership with in-store craftsmanship.

This launch reinforces KISNA’s long-term focus on accessibility, trust and customer-centric innovation, while adapting to evolving consumer preferences around flexibility, transparency and digital convenience in gold ownership.

KISNA Digital Gold represents ownership of physical gold and is not a regulated financial product or deposit, but a digital method of purchasing gold for personal use.

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