India's gem & jewellery exports slip 2% to $2.05B in May as gold supply tightens
GJEPC data shows May exports down 2% YoY to $2.05B (₹19,574 cr), with plain gold jewellery collapsing 40% to $636M and gold jewellery overall down 15%. Lab-grown diamonds bucked the trend, rising 26% to $101M. Imports fell 16% as 15% duty and bank bottlenecks bite.
India's gem and jewellery exports fell 2% in May to $2.05 billion amid gold supply shortages, regulatory bottlenecks at banks, higher import duties and US-Iran conflict. Plain gold jewellery exports plunged 40%, while lab-grown diamonds rose 26%.