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India's Gems Exports Shine 20% Amid Global Trade Shifts
14 Dec
Summary
- Gems and jewellery exports climbed 20% to $2.51 billion in November.
- Imports of gems and jewellery saw a substantial 36% jump.
- Cut and polished diamond exports increased by 38% due to holiday restocking.
India's gems and jewellery sector experienced a robust 20% increase in exports during November, reaching $2.51 billion compared to the previous year. This growth, coupled with a 36% rise in imports, indicates a dynamic international market engagement and strong domestic manufacturing activity. The performance is attributed to factors such as improved market realization and strategic diversification away from trade tariff impacts.
The surge in exports is particularly evident in cut and polished diamonds, which saw a remarkable 38% increase, largely driven by international buyers restocking for the Christmas season. Despite a marginal dip in gold jewellery exports in dollar terms, the sector is increasingly focusing on the domestic market, anticipating strong demand from the upcoming wedding season and potential future gold price increases.
