India's jewellery exports dropped 23.49% in February 2025

India's exports of gems and jewellery decreased significantly in February 2025. The decline was recorded at 23.49%, totaling $2,422.9 million. The drop was mainly due to weaker demand from key markets, particularly in the US and China. The Gem and Jewellery Export Promotion Council (GJEPC) reported that February's exports were much lower compared to $3,166.66 million in the same month last year. From April 2024 to February 2025, total exports fell by 13.43%, reaching $25,732.72 million. Experts attribute this decline to ongoing geopolitical tensions that have affected demand in major markets, including G7 countries. Furthermore, a recent correction in rough diamond prices of 10-15% has also contributed to the drop. In February, exports of cut and polished diamonds fell by 20.2%, valued at $1,362.67 million. Gold jewellery exports also faced a significant decrease, down 18.09% at $752.76 million. Additionally, the export of polished lab-grown diamonds decreased by 19.58%, recorded at $112.05 million.