GJEPC Chairman Kirit Bhansali attributed the decline to external unrest, saying: “The decline in exports is mainly due to the ongoing conflict in West Asia, which has caused global unrest affecting exports. Besides geopolitical tensions, exports to the US, a major export market for the gems and jewelery industry, have been affected as there is still no clarity on tariffs.”
At the sector level, exports of cut and polished diamonds decreased by 19.65 percent to $890.91 million from $1,108.74 million in the previous year. Exports of lab-grown polished diamonds also decreased by 15.53 percent to $93.28 million compared to $110.43 million last year.Gold jewelery exports decreased by 21.77 percent to $841.54 million compared to $1,075.67 million in the same period last year. Within this sector, simple gold jewelery exports saw a sharp decline of 47.06 per cent to $341.08 million from $644.33 million, while studded gold jewelery rose 16.02 per cent to $500.46 million from $431.35 million.In contrast, silver jewelery exports rose sharply, rising by 444 percent to US$268.38 million compared to US$49.33 million in the corresponding month last year.
