India's Gem and Jewellery Exports Jump 19.6% to $2.5 Billion in November: GJEPC

India’s gems and jewellery exports recorded a sharp year on year rebound in November, supported by improving demand across key overseas markets and a recovery in select product segments.  

Data released by the Gem and Jewellery Export Promotion Council (GJEPC) indicates that export momentum strengthened despite continued volatility in gold prices and uneven demand from the US. 

Key Development 

Exports of gems and jewellery increased 19.64% to $2.5 billion in November compared with $2.1 billion in the same month last year.  

However, cumulative exports for the April to November period remained largely unchanged at $18.86 billion, marginally higher than $18.85 billion recorded in the corresponding period of the previous year, reflecting mixed performance across categories during the year. 

Segment-wise Performance 

Cut and polished diamond exports showed a notable recovery, with gross exports rising to $919.74 million in November from $666.34 million a year earlier. Polished lab grown diamond exports also moved higher, increasing 10.55% to $76.09 million from $68.83 million in the year ago period. 

Gold jewellery exports were impacted by price volatility and remained flat at $1.21 billion compared with $1.23 billion last year. In contrast, studded gold jewellery shipments rose sharply to $828.89 million from $555.39 million, supported by strong job work demand.  

Silver jewellery exports saw a substantial jump to $197.97 million from $63.99 million after earlier supply disruptions eased. 

Market Trends and Industry View 

GJEPC chairman Kirit Bhansali stated PTI, "Markets are stabilising and demand in many export markets is picking up including Hong Kong, China and the Middle East. Even as the performance in the US is slow, robust demand in other markets is adding on to the growth. Exports of gold studded jewellery surged as job demand has gone up in India,". 

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Conclusion 

The strong November performance highlights improving sentiment in India’s gems and jewellery export sector, driven by diversification across markets and products, even as full year exports remain sensitive to global demand trends and commodity price movements. 

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