Connect with us

National News

Studded gold jewellery exports grow 126%  in five years

Published

on

India’s studded gold jewellery exports have shown remarkable growth, more than doubling from $2.7 billion in FY 2020-21 to $6.1 billion in FY 2024-255. This robust expansion stands out against a backdrop of global economic headwinds and a broader decline in India’s overall gem and jewellery exports. The surge reflects shifting consumer preferences, strategic industry adaptation, and the competitive advantage of India’s integrated jewellery manufacturing ecosystem.

  • Studded gold jewellery exports grew by 126% over five years, outpacing many other segments5.
  • Plain gold jewellery exports also saw a significant 150% rise, indicating broad-based demand5.
  • Despite an 11.7% decline in overall gem and jewellery exports in FY 2024-25, studded gold jewellery remained a growth driver35.

Drivers of Growth

1. Rising Gold Prices and Consumer Adaptation

  • Skyrocketing gold prices have prompted consumers to shift towards jewellery with less gold content but enhanced visual appeal, such as pieces studded with natural or lab-grown diamonds (LGDs)5.
  • Studded jewellery offers a cost-effective alternative, maintaining luxury appeal while managing material costs.

2. Local Manufacturing Ecosystem

  • India’s ability to produce both natural and lab-grown diamonds domestically gives manufacturers a pricing edge and supply chain control5.
  • The entire LGD process, from growth to setting, is handled in-house, ensuring quality and cost competitiveness.

3. Global Market Dynamics

  • Exporters executed over $1 billion in shipments ahead of new US tariffs, showing agility in responding to international trade shifts3.
  • While the US and China markets have been sluggish, demand for studded gold jewellery has remained resilient due to its adaptability and design innovation15.

4. Industry Innovation and Craftsmanship

  • Indian manufacturers have leveraged design excellence and skilled craftsmanship to cater to evolving global tastes, enhancing the appeal of studded gold jewellery1.

Challenges

  • Global Headwinds: The sector faces ongoing challenges from geopolitical tensions, trade sanctions, and competition from affordable lab-grown diamonds in other countries35.
  • Decline in Other Segments: While studded gold jewellery exports are up, exports of silver jewellery and lab-grown diamonds have declined sharply, reflecting uneven performance across categories3.
  • Tariff Uncertainties: New reciprocal tariffs in major markets like the US could affect future growth, requiring exporters to remain agile3.

Conclusion

India’s studded gold jewellery export boom is a testament to the sector’s ability to innovate and adapt in challenging times. By leveraging domestic strengths and responding quickly to global trends, Indian manufacturers have turned market challenges into growth opportunities, solidifying the country’s position as a global leader in the jewellery trade.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

National News

Belgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day  

Published

on

  • Event marks 42 years of Incorporation and 16 years of Operations
  • Recently-appointed Consul-General’s first visit to the Bourse helps strengthen a century-old bond
  • Long service awards presented to outstanding employees

Bharat Diamond Bourse today marked 42 years of incorporation and 16 years since the commencement of operations at the BDB Complex in BKC with a special programme graced by H. E. Pierre Stverlynck – Consul General of Belgium in Mumbai as Chief Guest and a number of leading diamantaires.

The function was organised to celebrate the crucial roles played both by the visionaries who conceptualised the need for a centralised infrastructure to boost the diamond trade over four decades ago, and the employees who have run the daily operations in a highly efficient and professional manner. 

In his Welcome Address, BDB Vice President, Mehul Shah explained the significance of celebrating twin milestones – 42 years of incorporation and 16 years of operations. He said:

“BDB began with a vision and is now the world’s largest operational bourse, and a symbol of India’s leadership in the diamond world and excellence in every aspect of operations.”

He added, “It is significant that the Consul General of Belgium is with us on this special occasion. Antwerp and Mumbai have a very close relationship, going back more than 100 years. Today the two cities have bonds based on trust, trade and friendship. We are committed to strengthening this bond over the next century as well.” 

Congratulating the awardees he said that members may be the owners, but it is the staff who run the complex and have helped build it as the “best of the best” centres for diamonds. “Personal integrity combined with hi-tech surveillance have made BDB one of the safest places in the world,” he explained, and urged all present never to forget that “it is the soldiers who fight and win the wars.” Mr Shah offered compliments to all the awardees and congratulated Team BDB. 

Speaking on the occasion, Anoop Mehta, President BDB, welcomed Mr Stverlynck who has recently assumed charge as Consul General of Belgium in Mumbai.

“We are sure that this will be the first of many visits to our Bourse,” he said, noting that the Consulate is the nearest neighbour of the complex. 

“The BDB leadership has always enjoyed a very special relationship with the Belgian consulate,” he added, “built on the longstanding bonds between the diamond industry in our two countries.”

Mr Mehta said it was heartening that so many employees had remained loyal to the BDB for multiple years, and urged all gathered to reach out through their department heads to put forward suggestions for further changes and improvements

Mr Stverlynck, who was on his first visit to the Bourse after assuming charge as Consul General, said he was extremely impressed with the facilities available for exporters within the complex. Assuring the trade of cooperation and support, he said he was happy to be personally present to celebrate such a remarkable institution as BDB that has become a key pillar of the India diamond industry.

Congratulating the leadership for its role in steering the bourse, as well as those employees who had received long service awards, Mr. Stverlynck said:

“The consolidated knowledge and experience of so many from those at the top to a number of others who contributed in various ways, is an asset to the industry.”

Special long service awards were presented to employees who completed special milestones during the year. These included 30-year, 25-, 15-, 10- and 5-year service awards to a few employees. 

Continue Reading

Trending

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.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x