Statement by Kirit Bhansali, Chairman, GJEPC, on Export Trends, Gold Imports, and Growth Outlook

“The April-October period reflects the steady and resilient progress of India’s gem and jewellery sector in a year shaped by global challenges. Our exports for these seven months stood at US$16.26 billion, a marginal decline of 2.72% in dollar terms, while in rupee terms they grew by 0.86% to ₹1,41,101.69 crore.

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I am encouraged to see strong year-to-date growth in key segments such as gold jewellery, silver jewellery, and platinum jewellery, supported by sustained retail demand across major international markets. These trends underline the inherent strength and adaptability of our industry.”

“As anticipated, October 2025 was comparatively softer. This is a regular pattern for the sector, with global retailers completing their holiday-season stocking during August-September, and domestic manufacturing activities slowing during the Diwali break. At the same time, demand in a few key markets remained uneven due to tariff-related uncertainty in the U.S. and continued softness in China. These factors together created a temporary dip, but they do not alter the broader positive direction of the industry's performance over the fiscal year so far.”