India's gems & jewellery exports slip 2.49% in May as gold prices surge 45.69%
GJEPC data shows May shipments at $2.05 billion, dragged by a 14.75% drop in plain gold jewellery as record gold prices and supply constraints bite. 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 to $2.05 billion in May, hit by 45.69% surge in gold prices and supply constraints. Plain gold
Key facts
- USD 2,047.89 million May exports
- -2.49% YoY total
- -14.75% plain gold jewellery
- +1.79% studded gold jewellery
- +3.31% cut and polished diamonds
- +25.99% lab grown diamonds
- +14.73% silver jewellery
- gold price +45.69% YoY
Why this matters
Surging gold prices and a 14.75% plunge in plain gold jewellery exports may pressure smaller players into consolidation, opening targeted M&A opportunities in lab-grown diamond and silver jewellery capacity.