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.
GlamBuzz
Srinidhi Shetty Unveils Malabar Gold & Diamonds’ New Showroom In RT Nagar, Bengaluru
The Dialogue Underscored The Importance Of Engagement Between Policymakers and Industry Stakeholders In Fostering Mutually Beneficial Trade Relations.
Malabar Gold & Diamonds inaugurated its new showroom in RT Nagar, Bengaluru, by actress Srinidhi Shetty. By further strengthening its presence in one of India’s most significant jewellery markets, the launch marks the brand’s 25th showroom in Bengaluru and its 49th showroom across the Karnataka and Goa region.
The new showroom has been designed to offer customers a spacious and premium jewellery retail experience, combining contemporary interiors, organised product displays, and personalised customer service. Developed in line with Malabar Gold & Diamonds’ global retail standards, the showroom brings together an extensive range of jewellery collections across categories and price segments.
The showroom was inaugurated in the presence of Filsor Babu, Regional Head – Karnataka, members of the management team, customers, invited guests, and other dignitaries.
The RT Nagar showroom showcases an extensive range of gold, diamond, platinum, gemstone, and silver jewellery, including Malabar Gold & Diamonds’ signature collections. The assortment has been curated to cater to bridal purchases, festive occasions, gifting requirements, contemporary styling preferences, and everyday wear, offering customers a wide choice across traditional and modern designs.
Malabar Gold & Diamonds is offering customers special exclusive offers. These include up to 30% off on making charges of all gold, uncut, and gemstone jewellery and up to 30% off on diamond value. These offers are valid till 21st June 2026. Additionally, customers can exchange their jewellery with 0% deduction and experience a seamless, transparent process (T&C Apply).
Commenting on the launch, M. P. Ahammad, Chairman, Malabar Group, said:
“Bengaluru continues to be one of our most important markets, supported by a diverse customer base that appreciates craftsmanship, design, and transparency in equal measure. The opening of our RT Nagar showroom reflects our continued commitment to serving customers through wider collections, premium retail environments, and a service experience built on trust. As the city continues to grow and evolve, we remain focused on bringing greater accessibility and convenience to customers across key residential and commercial neighbourhoods.”
Customers visiting the showroom will benefit from Malabar Gold & Diamonds’ customer assurance framework, including transparent pricing, HUID-compliant gold, certified diamonds, One India One Gold Rate, lifetime maintenance support, buyback assurance, and detailed product disclosure that ensures confidence at every stage of purchase.
With this launch, Malabar Gold & Diamonds continues to strengthen its retail footprint across Karnataka while maintaining its focus on quality, craftsmanship, transparency, and customer experience.
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