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.
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 jewellery shipments slumped 14.75%, while studded gold, diamonds, lab-grown diamonds and silver jewellery posted gains.