National News
India’s Gems & Jewellery Exports Drop 15.8% in May Amid U.S. Tariff Impact: GJEPC
India’s overall gems and jewellery exports dropped by 15.81% to $2,263.42 million (₹19,260.81 crore) in May 2025, compared to $2,688.38 million (₹22,414.02 crore) during the same month in 2024, as per the latest data released by the Gems and Jewellery Export Promotion Council (GJEPC).
According to GJEPC, the decline was largely due to the tariff announcements by the United States, which significantly impacted outbound shipments. Among the segments, exports of cut and polished diamonds experienced a sharp fall of 35.49%, standing at $949.70 million (₹8,089.81 crore) in May 2025, down from $1,472.08 million (₹12,272.03 crore) in the corresponding period last year.
Similarly, exports of polished lab-grown diamonds saw a decline of 32.7%, falling to $80.90 million (₹689.71 crore) from $120.32 million (₹1,003.06 crore) recorded in May 2024.
On a positive note, gold jewellery exports witnessed a significant rise of 17.24% to $997.50 million (₹8,482.61 crore), compared to $850.81 million (₹7,094.52 crore) during the same period in the previous year. This growth is attributed to rising global demand for gold amid ongoing geopolitical tensions in the Middle East.
Meanwhile, gross silver jewellery exports during April–May dropped by 17.59% to $150.08 million (₹1,281.92 crore), down from $182.11 million (₹1,518.69 crore) in the same period last year. Coloured gemstone exports also saw a minor dip of 1.13%, totalling $62.51 million (₹533.08 crore) compared to $63.22 million (₹527.36 crore) during April–May 2024.

GJEPC Chairman Kirit Bhansali stated, “The overall exports continue to decline and in May the dip was 15.81% mainly due to the tariffs announcement by the US. However, gold jewellery exports have gone up due to the continuing geopolitical tensions in the Middle East, which has increased the demand for the precious metal as a safe haven.”
National News
Bengaluru-based lab-grown diamond jewellery startup ONYA raises ₹5.5 crore in pre-seed funding led by Zeropearl VC
The brand scales to four profitable high-street stores in Bengaluru, touching ₹2 crore MRR in 11 months
ONYA, one of India’s fastest-growing offline-first, premium lab-grown diamond jewellery brands, has raised Rs.5.5 crore in a pre-seed round led by Zeropearl VC. The round also saw participation from prominent angel investors including MyGate founders Vijay Arishetty, Abhishek Kumar, Shreyans Daga, and Rohit Jindal; UrbanVault founder Amal Mishra; and Alkendra Pratap Singh, Managing Director of Crescendo Industries Pvt. Ltd. and Director of KE Engineers Pvt. Ltd., among others. The fresh capital will be used to accelerate ONYA’s offline retail expansion across major Indian cities.
ONYA, short for “On You,” was founded on a simple idea: to create art that looks good On You. The inspiration came from a deeply personal moment when two people ready to begin their life together realized that the ring they loved was beyond reach. That experience sparked a mission to make beautifully designed and meaningful diamond jewellery accessible to everyone. Today, ONYA stands for crafting soulful lab-grown diamond pieces that mark life’s most cherished celebrations in every Indian home.
Within 11 months, ONYA has expanded to four profitable high-street stores in Bengaluru, achieving a monthly revenue run rate of ₹2 crore. The company has also strengthened its leadership team with the appointment of Gaurav Choudhary, former Director of Products at xto10x, who joins as Co-founder.

Himani Yadav, Founder of ONYA, said, “ONYA didn’t begin as a business idea — it began with a personal moment. My engagement ring was a lab-grown diamond long before the category became mainstream, and that experience made me realize how many people felt priced out of meaningful jewellery. ONYA was created to change that by bringing emotion, accessibility, and intention back into fine jewellery.
Being backed by Zeropearl VC at this stage — and by someone like Bipin, who brings a decade of deep consumer-brand investing experience, including in jewellery — adds immense value and clarity to our journey. The fact that ONYA fits naturally into Zeropearl VC’s Indiluxe thesis reinforces that we’re building in the right direction. This partnership gives us the confidence to take thoughtfully designed lab-grown diamonds to more homes across India.”
Bipin Shah, Founder and Managing Partner, Zeropearl VC, said At Zeropearl VC, we back founders who deeply understand the problem they’re solving — and Himani’s clarity stood out from day one. The ONYA team is already showing early signs of cracking an offline & Design first approach in premium lab-grown diamond space which strongly aligns with our Indiluxe thesis. Young India’s shift in how they view jewellery is undeniable, and ONYA is building right at that inflection point.

Their design focus and customer obsession give us strong confidence — and we see this as a gateway to expanding into more premium, next-gen consumer categories over time.” ONYA’s jewellery features IGI-certified lab-grown diamonds set in BIS Hallmarked gold, blending scientific precision with elegant design. With this investment, ONYA plans to expand its product lines, open more customer-first experience stores, and deepen its connection with India’s growing base of conscious luxury
-
BrandBuzz2 weeks agoIndriya unveils Rajashree, the Bridal Collection of Maharashtra
-
International News6 hours agoDMCC Launches ‘DMCC FinX’ To bridge institutional capital, trade and technology
-
National News9 hours agoBengaluru-based lab-grown diamond jewellery startup ONYA raises ₹5.5 crore in pre-seed funding led by Zeropearl VC
-
International News7 hours agoGJEPC organises 22nd consecutive ‘India Pavilion’ at Jewellery Arabia in Bahrain


