Gems & jewellery is also hit hard. A 50% duty risks crimping demand in a sector that is both export-reliant and a major employer in Gujarat & Maharashtra.
commodities
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CNBC TV1815-12-2025, 10:02

Gems & Jewellery Exports Up 20%, Imports Jump 36% in November 2025

  • India's gems and jewellery exports rose nearly 20% to $2.51 billion in November 2025, with imports jumping 36% to $1.89 billion.
  • Cumulative exports for April-November 2025 remained largely flat at $18.87 billion, while imports increased 6.87% to $13.82 billion.
  • Cut and polished diamond exports surged 38.03% in November to $919.74 million, driven by improved price realization.
  • Imports of cut and polished diamonds soared over 250% in November, indicating renewed stocking by traders and manufacturers.
  • The November uptick reflects seasonal international demand, strong domestic wedding consumption, and market diversification.

Why It Matters: Strong gems and jewellery trade growth reflects India's economic health and global demand.

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