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India’s polished diamond exports decline  16.8% in FY2024–25

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India’s polished diamond exports fell sharply by 16.8% in the fiscal year ending March 2025, totaling $13.29 billion, according to data released by the Gem and Jewellery Export Promotion Council (GJEPC). This marks one of the weakest annual performances for the sector in the last two decades, although not the lowest on record—as has been mistakenly reported in some outlets. The lowest figure in recent history remains $12.3 billion in 2005, following $10.3 billion in 2004. In comparison, polished diamond exports for FY2023–24 stood at $15.97 billion.

The broader gem and jewellery export sector also saw a significant downturn. Total exports for FY2024–25 declined by 11.7% to $28.5 billion, the lowest level in four years. Industry leaders have attributed the slump to multiple global challenges, including softening demand in India’s primary export markets—the United States and China—amid ongoing geopolitical uncertainties.

However, recent monthly data suggests the downturn may be stabilizing. Polished diamond exports in March 2025 registered a marginal year-on-year dip of just 0.76%, amounting to $1.16 billion. Meanwhile, total gem and jewellery exports for the month posted a modest 1% growth, reaching $2.58 billion. These signs of resilience have sparked cautious optimism that the sector may be on the path to recovery.

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DiamondBuzz

Tiffany ring with a 10.02-ct emerald cut diamond is leading a Christie’s online auction, expected to sell for $500,000

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As the spring season breathes new life into the world of fine art, Christie’s is proud to announce its first jewelry event of the year: the Jewels Online sale. Running from March 9 through March 19, this exquisite 156-lot curation invites collectors to journey through a gallery of peerless stones, legendary signatures, and storied provenance. A Tiffany ring with a 10.02-ct emerald cut diamond is leading a Christie’s online auction and is expected to sell for $500,000 to $700,000.The Type IIa stone is D color, IF clarity, set in platinum and signed Tiffany & Co.

The auction further dazzles with a pair of earrings that define celestial symmetry. Featuring two Type IIa round brilliant-cut diamonds weighing 5.13 and 5.04 carats respectively, these D-color gems radiate a fiery brilliance. Estimated at $300,000 – $500,000, they represent a rare opportunity to acquire stones of such matched magnitude and VVS2 clarity.

In a poignant tribute to glamour, Christie’s is honored to present selections from The Collection of Elizabeth Taylor. These intimate treasures offer a glimpse into the lavish world of the silver screen’s ultimate jewelry connoisseur:

  • The Golden Evening Bag: A sumptuous diamond and gold vessel of elegance (Estimate: $10,000 – $15,000).
  • The Ruby Suite: A vibrant, matching set of ruby and diamond beaded necklace and earrings (Estimate: $15,000 – $20,000).

Beyond these headliners, the sale celebrates the “Great Houses” of jewelry design. Connoisseurs will find meticulously crafted pieces from:Cartier, Van Cleef & Arpels. David Webb & Seaman Schepps

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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