India’s gem and jewellery exports in November 2025 have recorded notable growth compared to the same month last year, driven by higher shipments of cut and polished diamonds (CPD), gold, silver, and platinum jewellery. Industry experts noted that November 2024 exports were lower due to Diwali holidays when manufacturing units were closed. Exporters also credit the November 2025 rise to strong Christmas demand from the US and China. However, overall growth for the April–November period remains largely flat.
Gross gem and jewellery exports in November rose 19% to $2.52 billion, up from $2.09 billion in November 2024. In contrast, exports from April to November 2025 were almost unchanged at $18.86 billion, compared to $18.85 billion in the same period last year.
A diamond and jewellery manufacturer said, “We have seen strong buying of natural diamond jewellery in the US this Christmas, along with steady demand from China. Lab-grown diamond (LGD) jewellery is also gaining traction.”
November CPD exports reached $919.74 million, up 38% from $666.34 million in November 2024. However, CPD exports for April–November fell 8.76% to $8.19 billion from $8.98 billion last year. Gold jewellery exports totaled $1.21 billion, slightly lower than $1.23 billion in November 2024.
Gold Jewellery Exports Rise
For April–November 2025, gold jewellery exports increased 10.14% to $7.93 billion from $7.20 billion last year. Studded gold jewellery was the main driver, jumping 49.24% in November to $828 million from $555 million in 2024. April–November exports of studded gold grew 6.68% to $4.40 billion.
In contrast, plain gold jewellery exports fell 42.17% in November, from $675 million to $390 million, but grew 14.78% for April–November to $3.53 billion, supported by a roughly 44% increase in gold prices in US dollars.
Silver Jewellery Sees Strong Growth
Silver jewellery exports surged 209% in November to $198 million from $64 million, reflecting a 34% rise in silver prices in US dollars. For April–November, silver exports grew 29.69% to $930 million from $717 million.
Lab-Grown Diamond Exports
Exports of lab-grown diamonds rose 10% in November to $76 million from $68 million. However, for April–November, exports declined 11% to $757 million from $851 million.
Platinum Jewellery Exports Double
Platinum jewellery benefited from a 35% rise in platinum prices in US dollars. November exports nearly doubled to $30 million from $15 million in 2024. For April–November, platinum exports grew 37% to $158 million from $115 million.
Overall Export Trend
While November 2025 shows strong month-on-month growth, the cumulative data for April–November indicate that the overall recovery in exports remains gradual, influenced by seasonal demand and global market trends.
