Donald Trump feel, “For many years, the United States has been treated unfairly by trading partners, both friend and foe. This lack of reciprocity is one source of our country’s large and persistent annual trade deficit in goods- closed markets abroad reduce United States exports and open markets at home result in significant imports.” This policy has brought additional uncertainties in the global trade.
Well Nirmala Sitharaman, FM-India has assured India’s Gem & Jewellery (GJ) exports yet, along with several global weaknesses, including geopolitical risk, reciprocal trade and tariffs of US adds fuel to the flame! Overall, all these weaknesses & uncertainties restricted India’s GJ Exports for the month of February. No doubt, Import also seen tumbled accordingly in the month of February 2025. Over all export-imports (Exim) both, remains weak!
The overall gross exports of Gems & Jewellery at US$ 2422.9 million (Rs. 21085.030 crores) in the month of February 2025 is showing a decline of 23.49% (-19.73% in Rs. term) as compared to US$ 3166.66 million (Rs. 26268.6 crores) for the same period previous year.
The overall gross imports of Gems & Jewellery at US$ 1362.62 million (Rs. 11858.65 crores) in month of February 2025 is showing a decline of 40.04% (-37.1% in Rs. term) as compared to US$ 2272.51 million (Rs. 18854.09 crores) for the same period previous year.
Looking for the period of April 2024 to February 2025, the overall gross exports of Gems & Jewellery at US$ 25732.72 million (Rs. 217148.26 crores) is showing a decline of 13.43% (-11.77% in Rs term) as compared to US$ 29724.13 million (Rs. 246105.96 crores) for the same period previous year.
The overall gross imports of Gems & Jewellery at US$ 17498.011 million (Rs. 147527.32 crores) is showing a decline of 13.31% (-11.69% in Rs. term) as compared to US$ 20184.56 million (Rs. 167060.56 crores) for the same period previous year.
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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.
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