Exports of gems and jewellery from India in January 2025 dropped by 7.01%, reaching USD 2.24 billion, compared to USD 2.41 billion in the same period last year. This decline is attributed to ongoing economic uncertainties, particularly the tariff threats from US President Donald Trump after his return to power.
In addition to the export decline, imports of gems and jewellery also fell significantly, dropping by 37.83% to USD 1.42 billion in January 2025, compared to USD 2.29 billion during the same month in 2024. While factors such as reduced demand following the wedding season may have contributed, the drop also suggests that the Indian gems and jewellery sector is becoming increasingly self-reliant. Domestic manufacturers are meeting the demand for finished jewellery, reducing the need for international suppliers.
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