The exports of gems and jewellery have grown by 9.67% on year-on-year basis from `16,896.04 crore in August 2024 to `18259.08 crore, said the data released by the Gems and Jewellery Export Promotion Council (GJEPC) on Tuesday.
According the industry body for gems and jewellery, the primary growth trigger is the rush by Indian exporters amid US tariffs. Meanwhile, the imports of gems and jewellery have grown marginally by 5.17% from 12,887.18 crore in August 2024 compared with `16,896.04 crore in August this year, reflecting a steady demand for raw and semi-finished products in the country to support production for the upcoming holiday season internationally as well as domestic festive demand.
The overall gross export of cut and polished diamonds decline by 2.2% from `8,705.35 crore to 8,508.66 crore in August this year. The decline in exports of cut and polished diamonds in August 2025 can be attributed to the rising affinity towards yellow metal in the US and Europe, where sluggish spending on luxury items caused overall demand fall.
Retailers across major market are also witnessing a slump in sales, inflating the unsold inventory which slowed down new purchases. Parallely, the continued increase in the global demand for lab-grown diamonds on the backdrop of being environment-friendly and cost-effective have also eaten up some share of natural diamond from the demand pie.
The overall gross imports for the products rose by 0.49% from 981.40 crore in August 2024 to 986.18 crore for the same period this year. The total export of plain gold jewellery rose to `3672.77 crore in August 2025 against `2155.95 crore, growing at 70.36%.
Colin Shah, MD, Kama Jewelry, said in a statement, “The Indian gems & jewellery sector is evolving with sheer agility to absorb the jitters of US tariffs and economic uncertainty it has created. There were strong numbers in August 2025 showing growth and density of exports to international markets, highlighting the rush among the exporters community to conduct trade early and get saved from the tariffs. Parallelly, fresh opportunities as close alternatives to the US
due to trade deals (eg: India-UAE CEPA), and consumers are increasingly gravitating toward sustainable, premium, and custom jewellery. Highly priced gold, global volatility, and volatile metal markets are persistent challenges, but coming out of the upcoming festive and wedding season will bring new energy to the sector.”