Surat's Special Economic Zone (SEZ) faced a significant setback in FY 2023-24, with diamond, gems, and jewellery exports dropping by Rs.12,765 crore compared to the previous fiscal year. This decline reflects ongoing economic challenges in major international markets such as China, the U.S., and Europe, which have impacted demand for luxury and high-value goods

India's polished diamond exports faced another setback in September, experiencing a 22.9% decline compared to the previous year, as reported by the Gem and Jewellery Export Promotion Council (GJEPC)

India's gem and jewellery exports took a significant hit in July 2023, plunging 21.93% to USD 1,665.4 million (Rs 13,922.03 crore) compared to the same period last year

India's gold imports fell by 4.23% to USD 12.64 billion from April to July 2024-25, reflecting global economic uncertainties, according to recent government data

The jewellery market in Tiruchi is experiencing a surge in activity following a reduction in the basic customs duty on gold, silver, and platinum. The Union Budget's cut has lowered the customs duty on gold and silver to 6% and on platinum to 6.4%, down from the previous rate of 15%

A recent reduction in gold import duties—from 15% to 6% in the latest budget—has led to a remarkable 35-40% increase in sales for gold retailers across India. This dramatic shift has provided a much-needed boost to an industry that had been struggling with high prices and stagnant sales

The Indian government is expected to increase the Goods and Services Tax (GST) rate on gold and silver from 3% to 5%. This anticipated hike follows recent reductions in the basic customs duty, as outlined in the latest Budget

Thangamayil Jewellery has announced its Q1 results for the fiscal year 2024, revealing a mixed financial performance. While the company's revenue saw a significant increase, its profit experienced a slight decline

Finance Minister Nirmala Sitharaman’s Budget has been hailed by the gems and jewellery industry, with stakeholders calling the duty cuts a long-awaited step in the right direction

The silver market is currently abuzz with predictions of a significant price surge in the coming months. Analysts and experts are forecasting that silver prices could potentially skyrocket to Rs 1.5 lakh per kg within the next 18 months

India's gem and jewellery sector experienced contrasting outcomes in May, with overall exports declining by 6% to $2.48 billion (Rs.20,713 crore) compared to the previous year. At the same time, a notable increase in gold jewellery exports was seen which rose by 13% to $660 million

Despite this decline, the company's topline saw a significant increase of 27.47%

The export of gems and jewellery from Surat’s Special Economic Zone (SEZ) at Sachin experienced a significant drop in the past financial year, plummeting by half in value compared to 2022-23

The Reserve Bank of India (RBI) witnessed a notable expansion in its gold reserves during the fiscal year 2024, with an increase of 27.46 metric tonnes reported by the end of March