India gems & jewellery exports slip 2.49% to $2.05B in May as plain gold jewellery craters 14.75%
GJEPC data shows May exports at USD 2,047.80M, dragged by plain gold jewellery (-14.75% to $758.44M) amid a 45.69% YoY gold price surge and tight import supply. Studded gold (+1.79%), cut & polished diamonds (+3.31%), lab-grown diamonds (+25.99%) and silver jewellery (+14.73%) cushioned the decline.
What happened
GJEPC · India's gems and jewellery exports fell 2.49% YoY in May to USD 2.05B, dragged by a 14.75% drop in plain gold jewellery amid record gold prices and
Key facts
- USD 2,047.89M May exports -2.49% YoY
- Plain gold jewellery -14.75% to USD 758.44M
- Studded gold +1.79% to USD 463.57M
- Cut & polished diamonds +3.31% to USD 980.73M
- Lab-grown diamonds +25.99% to USD 101.50M
- Silver jewellery +14.73% to USD 97.39M
- Gold price +45.69% YoY
Why this matters
Distressed plain-gold-heavy exporters and undervalued lab-grown diamond manufacturers become attractive bolt-on targets as the category rotation accelerates and weaker single-line players lose pricing power.