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India’s Gem & Jewellery Exports Drop 11.72% in FY25 Amid Global Pressures

Studded gold and platinum jewellery buck trend with positive growth; CPD and silver exports see sharp declines

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India’s gem and jewellery (G&J) exports declined by 11.72% in the financial year 2024-25, totaling USD 28.5 billion, compared to USD 32.28 billion in FY24. The industry grappled with multiple global challenges including sluggish demand in key markets like the US and China, ongoing geopolitical tensions, and rising competition from lab-grown diamonds.

Despite the overall decline, exports of studded gold jewellery rose by 14% year-on-year to USD 6.1 billion, and platinum jewellery exports also saw an uptick of 11.79% to USD 182.75 million. In contrast, exports of cut and polished diamonds (CPD), the sector’s largest component, plummeted 16.75% to USD 13.2 billion, while silver jewellery exports dropped a staggering 40.58% to USD 962 million.

The imposition of a 26% US tariff on certain goods triggered a last-minute surge in exports, with over USD 1 billion worth of shipments sent in the 10 days prior to the tariff’s implementation — a sign of underlying global demand potential.

On the import front, gross G&J imports fell 11.96% to USD 19.6 billion, down from USD 22.2 billion in the previous fiscal year. Imports of rough diamonds, a key raw material, dropped 24.27% in value to USD 10.8 billion, while the volume declined 16.2% to 1,044.34 lakh carats.

Exports of lab-grown polished diamonds were also impacted, declining by 9.64% to USD 1.2 billion.

Gold jewellery exports were relatively stable, recording only a marginal decline of 0.11% to USD 11.21 billion. Of this, plain gold jewellery contributed USD 5.1 billion.

Signs of recovery were visible from January 2025 onwards, with month-on-month growth, although still trailing behind year-on-year figures. Exports in March 2025 were USD 2.5 billion, showing a modest 1.02% growth over February, but slightly below the USD 2.55 billion recorded in March 2024.

Industry players remain cautiously optimistic, citing stabilizing diamond prices and improving market sentiment as early indicators of a turnaround, despite ongoing global uncertainty.

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Zithara.AI Partners With Tyaani Jewellery To Enable Smarter Customer Engagement

Collaboration to leverage AI native CRM capabilities for personalised customer interactions and stronger customer relationships

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Zithara.AI, an AI native customer engagement platform for offline retailers, has partnered with Tyaani Jewellery by Karan Johar to strengthen customer engagement through technology and data driven insights across the brand’s retail operations.

Through the partnership, Tyaani Jewellery will leverage Zithara.AI’s AI native CRM platform to bring greater structure to customer engagement and relationship management. The platform will enable the brand to organise customer information, understand engagement patterns, and create a more connected view of customer interactions. The platform will help Tyaani Jewellery strengthen its approach to customer engagement by enabling more structured and data driven interactions with its customers.

The collaboration is aimed at helping Tyaani Jewellery build stronger relationships with customers beyond individual transactions while creating greater opportunities to increase sales and repeat purchases. By using customer insights to identify relevant engagement opportunities, the platform will support the brand in following up with potential customers, re engaging existing customers and delivering more personalized communication based on customer preferences and purchase behaviour. This can help improve customer conversions, strengthen retention and enable retail teams to turn customer data into actionable insights that contribute to increased sales, stronger customer lifetime value and long term revenue growth.

Speaking about the partnership Manraj Singh, Chief Marketing Officer, Tyaani Jewellery said:

“Jewellery is a highly personal category, and the relationship between a brand and its customer extends well beyond a single purchase. As customer expectations evolve, it is important for us to understand their preferences and interactions better and use that understanding to create more meaningful experiences. Our association with Zithara.AI will help us bring greater intelligence and personalisation into our customer engagement, while enabling us to build stronger and more lasting relationships with our customers.”

Varun Kashyap, Co-Founder, Zithara.AI, said:

“Tyaani Jewellery has created a distinctive identity in the contemporary jewellery space, and its approach to engaging with modern consumers makes this partnership particularly meaningful for us. We see a strong opportunity to help the brand make better use of customer data and translate those insights into relevant, timely and personalised engagement. Our platform is designed to help retailers strengthen relationships throughout the customer journey rather than limit engagement to the point of purchase.”

Sridevi Reddy, Co-founder, Zithara.AI, added:

“Customer engagement in jewellery retail is increasingly about understanding the individual behind every transaction. With AI native capabilities, retailers can move from broad based communication towards experiences that are more relevant to customer preferences, behaviour and purchase journeys. Through our partnership with Tyaani Jewellery, we aim to support the brand in creating a more connected and intelligent customer engagement framework at scale.”

The partnership reflects the growing role of AI and customer data in shaping the next phase of jewellery retail, where personalised engagement and long term customer relationships are becoming increasingly important. Through the collaboration, Tyaani Jewellery and Zithara.AI aim to create a more connected and data driven approach to customer engagement that supports stronger relationships and the brand’s continued retail growth.

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