National News
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
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.
National News
The Solitaire Festival Of India Concludes; Bumper Prize Winner At Ranka Jewellers Wins XUV 7XO
TSFI Reached More Than 200+ Partner Jewellery Stores Across 100+ Cities
A solitaire often becomes part of a moment that people cherish for years. Whether it marks a milestone, celebrates a relationship or is a personal choice, it often holds a special meaning for its wearer. Reflecting this sentiment, The Solitaire Festival of India (TSFI) 2026, hosted by Divine Solitaires, concluded on a celebratory note at Ranka Jewellers, Chinchwad, Pune, with the handover of the festival’s bumper prize.
Amardeep Jinde was felicitated as the TSFI 2026 bumper prize winner and received the keys to a brand-new XUV 7XO, bringing the nationwide festival to a memorable close.
Taking the Solitaire Experience Across India
This year, TSFI reached more than 200+ partner jewellery stores across 100+ cities. The festival offered customers an opportunity to explore solitaires through assured gifts, weekly draws and a national bumper prize, while encouraging informed buying through a focus on quality, certification and transparent pricing.
Retail partners such as Ranka Jewellers have played an important role in bringing TSFI to consumers. The bumper prize handover at its Chinchwad store marked the culmination of this year’s festival, bringing
the nationwide celebration to a close.
Speaking on the occasion, Jignesh Mehta, Founder & Managing Director, Divine Solitaires, said:
“At Divine Solitaires, we continuously look for ways to engage with our customers and create exciting experiences for them. TSFI is one such initiative that brings together customers and our retail partners across the country. As we bring this edition to a close at all over India, we are grateful to everyone who has been part of the journey. We look forward to bringing many more interesting initiatives and experiences to our customers in the future.”
Adding his perspective,. Tejpal Ranka, Owner, Ranka Jewellers, Chinchwad, Pune, said:
“It has been a very eventful year for us, and our long-standing association with Divine Solitaires has been fruitful. We have seen an increase in customer walk-ins, which has been encouraging for our business. Having the TSFI bumper prize winner emerge from our store is a matter of great pride for us. It is wonderful to see a customer from our store win a prize in a festival celebrated across India. We look forward to continuing our association with Divine Solitaires and being part of more such initiatives in the future.”
Divine Solitaires continues to focus on making solitaire buying more transparent through its 123-parameter Quality Guarantee, standardised pricing and consumer-focused post-purchase benefits.
As the brand looks ahead to Dhanteras and the festive buying season, Divine Solitaires aims to encourage more consumers to consider a solitaire for their first meaningful jewellery purchase through festive offers and engaging customer initiatives.
With its focus on quality, transparent pricing and consumer confidence, the brand aims to further strengthen its position in India’s solitaire jewellery market. Going forward, Divine Solitaires plans to introduce more initiatives that bring solitaires closer to consumers and make the buying experience more rewarding.
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