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India’s polished diamond exports continue to slide in June

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India’s gross monthly polished diamond exports declined by 23% year-on-year in June, amounting to $779 million, according to the latest data released by the Gems and Jewellery Export Promotion Council (GJEPC).

While the drop continues the downward trajectory seen over the past two years, the June decline was less severe than May, when exports fell by 35.5%, from $1.47 billion in May 2024 to $950 million—one of the steepest falls in recent memory.

India’s polished diamond exports have faced sustained pressure since 2022, with weakened consumer sentiment in major markets like the United States and China driving demand down. For the fiscal year 2024–25, exports declined 16.8% to $13.3 billion, marking the sector’s lowest performance in nearly two decades.

The latest data also highlights a 5% decline in rough diamond imports for the April–June quarter, signaling a cautious buying approach amid global market uncertainty.

While the overall gems and jewellery sector also experienced a downturn, it fared slightly better than diamonds alone, registering a 14.1% year-on-year decline in revenue.

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Cosmos Diamonds Makes History With World’s First LGD  Jewellery  Launched Into Space

The Launch Also Reinforces India’s Emergence As A Global Innovation Hub Where Startups From Diverse Sectors Are Forging Unconventional Partnerships.

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In a landmark moment where luxury, science and space exploration converged, Sanjana Tripuramallu, founder of Bengaluru-based Cosmos Diamonds, has achieved a global first by collaborating with private space company Skyroot Aerospace to send Cosmos Bloom, the world’s first lab-grown diamond (LGD) jewellery creation into space aboard the Vikram-1 rocket.

The Cosmos Bloom Diamond  is handcrafted in 18 kt gold using 32 pear-cut LGDs arranged in the form of a blooming lotus and mounted on a specially engineered aluminium base plate. It is designed to withstand the extreme conditions of launch and spaceflight. The space-bound jewel is valued at Rs 11 lakh and combines Indian craftsmanship, technology, and innovation.

Sanjana Tripuramallu, Founder- Cosmos Diamonds

The launch also reinforces India’s emergence as a global innovation hub where startups from diverse sectors are forging unconventional partnerships. While Skyroot Aerospace showcased the country’s private launch capabilities through Vikram-1, Cosmos Diamonds used the mission to tell a powerful story of Indian design and scientific ambition on an international stage. With the successful launch of the world’s first lab-grown diamond jewel into orbit, Sanjana Tripuramallu and Cosmos Diamonds have etched their names into both jewellery and space history, demonstrating that the future of luxury may well extend beyond Earth itself.

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