India’s exports of gems and jewellery rose by 9.43 percent in September to $2.95 billion, up from $2.69 billion in the same period last year, according to a report released on Thursday. As per the report by Kama Jewellery, total exports for the April–September period increased by 3.07 percent to $14.30 billion, compared to $13.87 billion in the corresponding period of the previous year.
Meanwhile, gross imports for the first half of the financial year grew by 5.29 percent year-on-year to $11.04 billion, with a 25.48 percent increase to $2.07 billion in September alone. The report notes, “This improvement is a positive development for the Indian gems and jewellery sector, which has long been grappling with global economic challenges.” It further highlights that the surge in both exports and imports is an encouraging sign, driven by domestic demand during the festive season and the approaching holiday season globally.
According to the report, while the value of diamond exports has declined, the volume has increased. This indicates a drop in the price per carat rather than a decrease in the actual demand for diamonds. The rise in the import of rough diamonds underscores India’s prominence as a major diamond-processing hub—a trend likely to strengthen further.
The performance of plain gold jewellery was impacted by high gold prices; conversely, exports of studded gold jewellery saw a significant increase, reflecting a sustained preference among buyers for design-centric, value-added studded pieces. The report states that, given the festive and wedding season, business momentum is likely to accelerate further, with growth expected to be seen at least throughout the current quarter.
