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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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Senco Gold & Diamonds Unveils Attractive Rath Yatra Offers

Jeweller Launches A Festival-Inspired Jewellery Collection With Exclusive Discounts On Gold, Diamond, Silver and Gemstone Jewellery, Along With Special Old Gold Exchange Benefits.

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Senco Gold & Diamonds, a leading pan-India jewelry retailer with a legacy of over 88 years, is the largest jewelry retail player in Eastern India by showroom count, with more than 200 outlets across India. The brand has announced the launch of its new Rath Yatra Jewelry Collections and festive offers to mark the auspicious occasion. Rath Yatra, also known as the Festival of Chariots, is an important Hindu festival celebrated every year. While observed around the world, the largest celebrations take place in Odisha and West Bengal.

To commemorate the spirit and grandeur of Rath Yatra, Senco Gold & Diamonds has unveiled a thoughtfully curated collection of jewellery inspired by the festival’s rich symbolism and cultural heritage. Expertly crafted by the brand’s master artisans, the collection features intricate motifs of deities, chariots, and other auspicious elements associated with the revered festival.

To make Rath Yatra celebrations even more rewarding, Senco Gold & Diamonds is introducing a host of attractive festive offers across its showrooms. Customers can enjoy up to 40% discount on making charges for gold jewellery, up to 100% discount on making charges and up to 20% discount on diamond value on diamond jewellery, and up to 10% discount on gemstone jewellery. In addition, the brand is offering up to 15% off on making charges for silver jewellery. Further, customers can avail 0% deduction on old gold exchange along with an additional discount of ₹650 per gram.

Each piece is meticulously crafted in BIS Hallmarked Gold, reflecting exceptional craftsmanship, timeless elegance, and enduring quality. Designed to celebrate tradition while appealing to contemporary tastes, these exquisite creations are intended to become treasured heirlooms, passed down from one generation to the next.

Commenting on the occasion, Joita Sen, Director & Head of Marketing & Design, Senco Gold & Diamonds, said:

“Rath Yatra is a festival that holds immense spiritual and cultural significance for millions of devotees across the country. At Senco Gold & Diamonds, we recognize the importance of this auspicious occasion, when many customers choose to invest in jewellery as a symbol of blessings and prosperity.

Inspired by the rich traditions of the festival, our skilled artisans and designers have thoughtfully created a collection that beautifully blends timeless craftsmanship with contemporary elegance. From intricately crafted gold and diamond pendants to vibrant meenakari earrings, the collection offers something special for every taste and preference, making it the perfect way to celebrate the spirit of Rath Yatra.”

Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said:

“Every year we have been doing the celebration in honour of the auspicious period, giving an opportunity to consumers to buy jewellery during this auspicious time.”

Senco Gold & Diamonds offers a diverse jewellery portfolio, including gold, diamond, platinum, and studded jewellery. Its brands include Everlite lightweight jewellery and Gossip, the silver and costume jewellery brand. The company has also launched D’Signia showrooms in India, offering a premium jewellery shopping experience. Its Aham collection caters to men, while the Vivaha collection features premium designer bridal jewellery.

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