India’s gems and jewelry exports saw a significant drop in January 2025, largely due to the global uncertainty surrounding U.S. President Donald Trump’s threats to impose tariffs on imports. According to data from the Gem and Jewelry Export Promotion Council (GJEPC), India exported a total of Rs 19,302.28 crore worth of gems and jewelry in January, a decrease of 7.01% compared to Rs 19,996.66 crore during the same month in 2024.
In addition, the import of gems and jewelry in India for January 2025 was Rs 12,269.41 crore, marking a 38% decrease from Rs 19,008.4 crore in January 2024. This decline may be attributed to lower demand following the end of the wedding season. However, it also signals India’s growing self-reliance in the gems and jewelry industry, with domestic manufacturers increasingly meeting local demand, reducing dependence on foreign suppliers.
Colin Shah, Managing Director of Kama Jewelry, commented on the situation, attributing the decline to Trump’s aggressive tariff policies, which have disrupted global trade. He mentioned that the jewelry sector is closely monitoring these developments, and a gradual improvement in trade activities is expected once the future of U.S. tariffs becomes clearer.
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