Diamond exports down by 21% in June compared to last year
Updated: Jul 16th, 2025
An 11.73% decline in export of diamonds was observed in June 2025 compared to June 2024. The imports were down by 0.11%.
The maximum decline was seen in polished lab-grown diamond (22.74%) and cut and polished diamonds (21.23%).
Gold has yet again proven to be a safe bet, seeing an upward trend in exports.
June 2024 numbers compared to June 2025
| Commodity | June 2024 | June 2025 | Difference |
|---|---|---|---|
| Cut and polished diamonds | ₹8496.87 cr | ₹6692.94 cr | -21.23% |
| Polished lab-grown diamonds | ₹741.48 cr | ₹572.86 cr | -22.74% |
| Gold jewellery | ₹4974.61 cr | ₹5415.71 cr | +8.87% |
| Coloured gemstones | ₹760.74 cr | ₹826.44 cr | +8.64% |
The diamond industry is witnessing a steep decline in exports and job losses for the workers.
As per latest data by the Gems and Jewellery Export Promotion Council (GJEPC), the overall gross exports of gems and jewellery in December 2024 stood at $1967.98 million, showing a decline of 10.29% from the same period previous year.
This is due to the economic uncertainty looming in the market due to which buyers are leaning more towards the yellow metal as safe haven for investments rather than splurging on lifestyle, said the Council.
India’s diamond imports saw a 54% decline in August 2024 compared to the same month in 2023, as the country remained a dominant player in the global diamond industry, responsible for producing 95% of the world’s polished diamonds, as per a report.
The decline in diamond imports is part of a broader industry trend. In July 2024, India’s diamond imports were already down by 31% in volume and 17% in value year-on-year.
The August 2024 data by GJEPC also suggested a continuation of this decline, exacerbated by market adjustments and a global oversupply of polished diamonds.
The country’s diamond exports also saw a reduction, with 1.34 million carats exported in August 2024, a 22% year-on-year decrease.
The diamond industry in the country is closely watching market developments, with a keen eye on potential recovery strategies.
The report mentioned that as producers and manufacturers strive to balance supply and demand, the industry’s future will likely be shaped by continued adjustments in global diamond production and distribution.
(with inputs from syndicated feed)
