Key Highlights

• Gems and jewellery exports rose 19.64 percent year on year in November

• Exports reached $2.5 billion compared to $2.1 billion last year

• Nearly $400 million increase reflects improving overseas demand

• Stronger buying seen from markets like the US and Middle East

• Growth appears broad based across diamonds and studded jewellery

India’s Gems and Jewellery Exports Show Strong Recovery in November

India’s gems and jewellery exports showed a clear improvement in November, pointing to a gradual recovery in global demand. Data released by the Gem and Jewellery Export Promotion Council shows exports rose 19.64 percent year on year to $2.5 billion, compared with $2.1 billion in November last year.

In absolute terms, this nearly $400 million rise is meaningful. The sector has spent much of the past year facing weak overseas orders, high inventory levels, and cautious buying by global customers. The November numbers therefore mark an important shift in sentiment.

Why November Data Is Important

November is a key transition month for the gems and jewellery industry. It is the period when global buyers start restocking ahead of year end festivals and wedding related demand. Strong performance in this month usually reflects growing confidence among international retailers.

The sharp year on year growth suggests that buyers in major markets such as the United States and the Middle East may be moving past the long demand slowdown. High inflation and weak discretionary spending had earlier reduced jewellery purchases, but conditions now appear to be improving.

Growth Is Not Just a Low Base Effect

Another positive sign is that the growth has come on a relatively stable base. Last year’s exports were affected by global uncertainty, but they were not extremely low. This makes the near 20 percent increase more meaningful and points to genuine improvement in order flows.

Industry feedback indicates that both cut and polished diamonds and studded jewellery saw better demand. This suggests that the recovery is spread across segments rather than being limited to a single product category.

Support From Global and Domestic Factors

Macro conditions also supported November’s performance. While gold prices remained volatile, exporters managed pricing and margins better through careful planning and hedging. At the same time, easing inflation in key consuming countries helped stabilise demand for discretionary items like jewellery.

India’s strong manufacturing base and well established supply chain have also helped exporters respond quickly as demand began to return.

What This Means for Indias Trade Outlook

Gems and jewellery remain a major foreign exchange earning sector for India. A steady recovery here can support overall merchandise exports, especially when some other labour intensive sectors are still facing pressure.

However, it is too early to declare a full turnaround. Export performance in December and January will be crucial to confirm whether November marks the start of a sustained trend or was mainly driven by seasonal demand.

Final Word

The November export data sends a positive signal for India’s gems and jewellery industry. While challenges remain, the scale of growth and signs of improving global demand suggest the sector may be entering a phase of gradual normalisation after a prolonged slowdown. The coming months will be key in deciding whether this momentum can be maintained beyond the festive season.