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
Zi Launches As A Modern Indian Design House Redefining Everyday Luxury
The New Jewellery Brand Makes Its Debut With 925 Sterling Silver, With An Expanding Design Vocabulary Across Titanium, Gold and Lab-Grown Diamonds
Zi, a new Indian design house, has launched with its debut collection of 925 sterling silver jewellery, bringing contemporary, everyday designs to a category traditionally shaped around occasion and ceremony. Starting at Rs 3,500, the collection marks the first chapter of Zi’s ambition to build a modern jewellery house where luxury is defined by design, material and wearability rather than spectacle.
Zi begins with a simple shift in how jewellery is approached: pieces need not be saved for a particular occasion. Its debut collection is designed to become part of an everyday wardrobe, with clean forms, considered detailing and versatile silhouettes that can be worn repeatedly, styled differently and carried across settings.



The collection is divided into three edits: Staple Edits, featuring everyday essentials; Forever Favourites, comprising versatile pieces designed for repeat wear; and Evening Elegance, bringing a more elevated expression to after-dark and occasion dressing. Across the edits, the pieces are designed to work independently or together, allowing customers to build a personal jewellery wardrobe rather than buy around individual occasions.
925 sterling silver forms the foundation of the launch, chosen for its versatility and as the starting point for Zi’s design language. The collection also incorporates other considered metals across select designs and is finished with premium rhodium plating. The jewellery is nickel- and lead-free, with a focus on material quality, finish and everyday wearability.
But silver is only the beginning for Zi. The brand is developing its next phase around more considered, design-led jewellery, including upcoming collections such as The Classics and The Atelier. These collections will build on the restraint of the debut while introducing greater depth and design expression, expanding the idea of what everyday luxury can look like over time.
The house is also developing jewellery across a broader material palette, including titanium fused with gold and lab-grown diamonds. Each material has been selected for a distinct role: titanium for its strength and lightness, gold for its warmth, and lab-grown diamonds as a contemporary interpretation of an established luxury material. The move reflects Zi’s intent to build a design house with a considered material philosophy, rather than remain defined by a single category or metal.
Beyond jewellery, Zi is exploring future lifestyle categories, with design continuing to anchor the brand’s approach. The long-term ambition is to create a design-led house that evolves across materials, products and categories while maintaining a consistent point of view.
The debut collection is available exclusively through Zi’s online platform from 24 August 2026, with prices starting at Rs 3,500.
With its launch, Zi is introducing a different proposition to India’s jewellery landscape: luxury designed not only for the moments that call for it, but for the everyday ones that make up a life. The debut in silver is the starting point; the larger ambition is to build a house with a design language that can evolve with the way modern India wears luxury.
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