India’s gems and jewellery exports saw a sharp 14.25% decline in June 2025, falling to USD 1.63 billion from USD 1.89 billion in the same month last year, according to data from the Gem & Jewellery Export Promotion Council (GJEPC).

The slump has been attributed to ongoing economic uncertainty and geopolitical tensions, which have dampened demand in key markets like the US, Europe, and China.

Exports of cut and polished diamonds saw a particularly steep fall of 23.5%, while lab-grown diamond exports dropped nearly 25%, facing stiff competition from China. However, gold jewellery exports bucked the trend, registering a 5.75% increase, driven in part by strong pricing.

Industry leaders remain hopeful for a revival in the coming festive and wedding season, though global headwinds continue to cast a shadow over short-term recovery.