NEW DELHI: India’s gems and jewellery trade witnessed a sharp contraction in October 2025, as exports and imports declined across major segments due to subdued global demand, high interest rates, supply chain disruptions, and the impact of steep US tariffs, as per the data released by the Gems and Jewellery Export Promotion Council (GJEPC).

The GJEPC data shows that overall gross exports fell 30.57 per cent to $2,168.05 million (Rs 19,172.89 crore) in October 2025, from $3,122.52 million (Rs 26,237.10 crore) a year earlier. Imports also dipped 19.2 per cent to $1,276.8 million (Rs 11,299.6 crore) from $1,580.13 million (Rs 13,276.26 crore).

Commenting on the data, Colin Shah, managing director of Kama Jewellery, said, “The impact of trade tariffs imposed earlier is now being felt, leadin

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