(MENAFN- KNN India) New Delhi, Nov 17 (KNN) India's gems and jewellery exports fell sharply in October 2025, declining 30.57 percent to USD 2.17 billion (Rs 19,172.89 crore), according to data released by the Gems and Jewellery Export Promotion Council (GJEPC).

The sector had recorded exports worth USD 3.12 billion (Rs 26,237.10 crore) in October 2024.

GJEPC Chairman Kirit Bhansali said the decline was primarily due to demand being advanced ahead of the implementation of the US tariff.

“Most of the stocking up for the festivals took place before August 27, therefore, in October the demand was down. The decline in gold and silver exports is triggered by volatile bullion prices,” he told PTI.

He added that exports are expected to improve in November as demand from China strengthens and Christmas orders come in from other key markets.

Exports of cut and polished diamonds fell 26.97 percent to USD 1.03 billion (Rs 9,071.41 crore) in October, compared to USD 1.40 billion (Rs 11,806.45 crore) in the same month last year.

Shipments of polished lab-grown diamonds dropped 34.9 percent to USD 94.37 million (Rs 834.45 crore).

Gold jewellery exports declined 28.4 percent to USD 850.15 million (Rs 7,520.34 crore), down from USD 1.19 billion (Rs 9,975.17 crore) a year earlier.

Silver jewellery exports also contracted, falling 16 percent to USD 121.37 million (Rs 1,072.81 crore).

In the coloured gemstones segment, exports during the April–October 2025 period slipped 3.21 percent to USD 250.14 million (Rs 2,173.08 crore), compared with USD 258.42 million (Rs 2,163.52 crore) in the corresponding period of 2024.

The sector continues to face pressure from weaker global demand, volatility in precious metal prices, and tariff-driven disruptions, though industry expectations suggest a potential recovery in the coming months.

(KNN Bureau)

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