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.”

Senco Gold Limited, a leading pan-India jewellery retailer with a legacy of more than 85 years and the largest jewellery retail player in Eastern India with 175+showrooms, announced of achieving the historic milestone where in the first-ever hand carriage export from Kolkata International Airport was successfully carried out in the early hours of June 16th, 2025 to grow the export from kolkata, marking a major step forward in enhancing ease of doing business and bolstering India’s role as a global gems and jewellery hub, through the coordinated efforts of Customs authorities, GJEPC, AAI Cargo Logistics and Allied Services Company Ltd. (AAICLAS), and BVC Logistics. The initiative was supported under the leadership of Shivaji H. Dange, IRS, Principal Commissioner of Customs, Kolkata, and  Pankaj Parekh, Regional Chairman (Eastern Region), GJEPC.

This maiden export consignment was hand carried as personal baggage by Suvankar Sen –MD & CEO, Senco Gold Limitedwhile travelling to Milan, Italy for an exhibition along with Joita Sen –Director & Head of Marketing & Design, Senco Gold Limited.

Commenting on this auspicious occasion,  Suvankar Sen MD & CEO, Senco Gold Limited, said, “Senco Gold Limited is proud to be part of the historical initiative by Kolkata customs and GJEPC Kolkata to start hand carry of jewellery from Kolkata. It will boost exports from Kolkata in a big way.”

Commenting on the same Pankaj Parekh, Chairman, Eastern Region said, “I am delighted to see my dream take concrete shape. This achievement owes itself to the visionary guidance of the Principal Commissioner of Customs, S.H.Dange, IRS and the able execution by Joint Commissioners of Customs, A. Bhardwaj, IRS and S. Mondal, IRS. The tireless efforts of Mr. S. Roy, IRS, DC Customs, Kolkata were equally pivotal. I am deeply grateful to each of them for their unwavering commitment.

Omnichannel jewellery brand BlueStone is set to enter India’s unicorn club, reaching a valuation of $1.2 billion (Rs 10,500 crore) through secondary transactions led by 360 One and Centrum Wealth. This marks a 30% rise from its August 2024 valuation of Rs 8,100 crore, ahead of its much-anticipated IPO.

Singapore-based RB Investments, an early backer with a 2–3% stake, is exiting with an impressive 10–12x return. The secondary share sales, worth Rs 300–350 crore, are part of a strategic pre-IPO reshuffle by wealth firms transferring shares to their clients.

BlueStone, which combines online convenience with offline presence, filed its IPO draft with SEBI in December 2024 and secured approval in April 2025. The offering includes a fresh issue of Rs 1,000 crore and an OFS of nearly 24 million shares, with investors like Accel, Saama Capital, IvyCap, and Kalaari Capital set to partially or fully exit.

The company’s rise highlights growing investor interest in tech-enabled, consumer-focused retail in India’s evolving jewellery market.