India's gem & jewellery exports slip 2% in May to $2.05bn as gold supply tightens, duty hike bites
May exports fell 2% YoY to $2.05bn (though up 9% in rupee terms to ₹19,574 cr). Plain gold jewellery shipments collapsed 40% to $636mn and gold consumption dropped 21% to 11 tonnes. GJEPC flagged the 15% import duty, supply shortages and unrevised duty drawback as squeezing exporter margins. Lab-grown diamonds bucked the trend, up 26%.
India's gem and jewellery exports fell 2% in May to $2.05bn on gold supply shortage, higher import duty and weak demand. Plain gold jewellery exports plunged 40%; GJEPC flagged regulatory bottlenecks and unrevised duty drawback hurting exporter margins.