Another Slump for India's Polished Exports
July 17, 25
(IDEX Online) - India suffered yet another slump in its gross monthly polished exports in June, down 23 per cent on the same period last year, to $779m.
But it was less sharp than the previous month, according to the latest data from the Gems and Jewellery Export Promotion Council (GJEPC)
In May overseas sales fell 35.5 per cent, from $1.47bn to $950m, in one of the biggest recent drops
India's polished exports have been in long-term decline since 2022, driven by weak global demand, especially from the US and China.
During the 2024/25 fiscal year exports fell 16.8 per cent to $13.3bn, hitting their lowest point in almost two decades.
The new GJEPC figures show that rough imports have dropped, but by nowhere near as much - down 5 per cent from April to June.
The data also shows that diamonds again fared worse than the overall gem jewelry sector, which saw revenue down by just over 14 per cent.