• | 7:00 pm

Indian exports of cut and polished diamonds plunge to 20-year lows

Exports of cut and polished diamonds plunged to the lowest in about two decades in fiscal 2025 on sluggish demand from the US and China, industry lobby GJEPC said

Indian exports of cut and polished diamonds plunge to 20-year lows
[Source photo: Chetan Jha/Press Insider]
By PRESS Insider Staff 3-minute

Exports of cut and polished diamonds plunged to the lowest in about two decades in fiscal 2025, which ended in March, on sluggish demand from the US and China, industry lobby Gems and Jewelry Export Promotion Council (GJEPC) said on Monday.

Cut and polished diamond exports, which account for nearly half of gem and jewellery shipments, declined 16.8% to $13.3 billion year-on-year, GJEPC said in a statement.

India is the world’s largest cutting and polishing hub, handling nine out of every 10 diamonds processed globally, with the US being its biggest market.

The decline inthe segment dragged down gem and jewellery exports by 11.7% to $28.5 billion from $32.28 billion the previous year. The lower demand for polished diamonds also prompted Indian processors to reduce imports of rough diamonds by 24.3% to $10.8 billion, the trade body said.

In March, gems and jewelry exports rose by 1% year-on-year to $2.56 billion as exporters ramped up shipments ahead of announced US tariffs, GJEPC said.

India’s gems and jewelry exports may not recover this year as the US tariffs have roiled global markets and shaken buyer confidence, a Reuters report said, citing an unidentified major Mumbai-based exporter.
ABOUT THE AUTHOR

Press Insider Staff is the collective newsroom byline for stories reported, edited and published by Press Insider’s specialist editorial desk across business, markets, technology, startups, economy, policy, energy, corporate affairs, deals, regulation, leisure and global news. The desk tracks company announcements, stock exchange filings, court records, government statements and market developments worldwide to deliver clear, concise and verified coverage for readers following India, global markets and world affairs. More

More Top Stories:

RBI raises rates for first time in nearly four years
READ MORE
India-US trade talks lose momentum as tariff differences persist
READ MORE
SC questions voter roll changes, seeks records on revisions to Form 6
READ MORE
RBI may extend rate hike cycle as inflation pressures spread
READ MORE
India must earn its growth every quarter, finance ministry cautions
READ MORE