India's glittering gem and jewelry industry just hit a bump in the road — and it’s not because people stopped loving bling. April 2025 saw a 5% drop in exports compared to last year, with imports plunging 18%. And the culprit? 👀 Global politics and sky-high tariffs.
🇮🇳💬 “This isn’t just a hiccup,” said Colin Shah, managing director of Kama Jewelry and former GJEPC chairman. “Tariffs imposed by the Trump administration have rocked the global market — and India is feeling the aftershocks.”
Here's how the numbers sparkle — or don’t:
📊 April 2025 Breakdown:
- 💎 Gem & jewelry exports: $2.04B (↓ 5%)
- 📥 Imports: $1.57B (↓ 18%)
- 💎 Cut & polished diamond exports: $1.12B (↓ 6%)
- 📉 Diamond imports: $47.6M (↓ 46% 😱)
⚠️ With demand for polished diamonds still cooling globally, traders are shifting focus. One saving grace? India's rough diamond market held steady at $1.2B, thanks to a wedding-season boom for traditional polki (uncut) diamonds 💍.
💡 And what about lab-grown diamonds?
Holding steady with $110.7M in exports — nearly unchanged from last year. But Shah sees signs of a youth-fueled surge, especially as young consumers continue to favor sustainability and affordability 🔄🌱.
🏆 Color Gemstones Save the Day
The shining star of April? Colored gemstones, with a 12% export increase, reaching $27.8M. According to Shah, this niche sector is “largely unaffected” by geopolitical chaos and price swings.
💰 Gold Jewelry wasn’t so lucky — down 5% as prices near $3,200/oz. Ouch.
🤝 Hope on the Horizon?
Over the weekend, the U.S. and China reached a 90-day tariff rollback deal, and Shah believes this could give the industry a much-needed boost.
TL;DR: India’s jewelry exports are under pressure from global drama, but colored gemstones, lab-grown diamonds, and a possible trade breakthrough might just bring the sparkle back. 💎✨
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