India’s cut-polished export is preparing to bounce!

 

Right time for SEEPZ SEZ to design a long-term strategy  

India’s overall gross export of Cut & Polished [C/P] diamonds remained at US$ 972.29 million (Rs. 8508.66 crores) in month of August 2025 is showing a decline of (-)6.29% (-2.260% in Rs. Term) as compared to US$ 1037.59 million (Rs. 8705.35 crores) for the same period of previous year.  

The overall gross imports of Cut & Polished diamonds totaled at US$ 112.70 million (Rs. 986.18 crores) in month of August 2025 is showing a decline of (-)3.65% (0.49% in Rs. term) as compared to US$ 116.97 million (Rs. 981.40 crores) for the same period of previous year.  

The overall gross imports of Cut & Polished diamonds in DTA remained at US$ 15.07 million (Rs. 131.84 crores) is showing a negative of (-) 62.59(-60.99% Rs. term) as compared to US$ 40.28 million (Rs 337.94 crores) for the same period of August 2025. 

The overall gross imports of Cut & Polished diamonds in SEZ at US$ 97.63 million (Rs. 854.34 crores) is showing a Growth of (+) 27.32(32.77% Rs. term) as compared to US$ 76.68 million (Rs 643.47 crores) for the same period of August 2025.  

“Watch out, import trend here. Overall import of cut & polished diamonds fell by 3.65%. Within this, DTA’s import tumbled by over 62%, while SEZ’s import surged by more than 27%. 

De facto, SEZ is the zone that exports nearly two-thirds or more of its production to the US. They were deeply worried about the recently announced US tariff. This surge clearly reflects their scope for activity.  

Meanwhile, GJEPC had raised concerns regarding SEEPZ SEZ. As highlighted in; GJEPC urges the Government for immediate relief [link: https://gjtownindia.blogspot.com/2025/08/gjepc-urges-government-for-immediate.html ], the Council stated: ‘There is significant dependency on the US market, as 85% of exports from SEEPZ SEZ, which provides 50,000 jobs, is directed there. For cut and polished diamonds, half of India’s exports are US-bound. With the revised tariff hike, the entire industry may come to a standstill, placing immense pressure on every part of the value chain—from small karigars to large manufacturers.’  

Drawing attention to the US market and SEEPZ; my submission is to slash down such dependency on any single market. Historically, our gem & jewellery exports had been overly dependent on US imports. It was the prudent leadership of GJEPC that, since 2004, started reducing this reliance. Now, this is the right time for SEEPZ SEZ to design and implement a long-term strategy”, said veteran gem & jewellery media player Nayan Jani. 

For the period of April-August 2025, India’s overall gross Exports of Cut & Polished diamonds reached at US$ 4881.42 million (Rs. 42010.45 crores) is showing a decline of (-) 13.14% (-10.51% Rs. term) as compared to US$ 5619.57 million (Rs. 46941.81 crores) for the same period of previous year.  

While, overall gross imports for the period of April-August 2025, of Cut & Polished diamonds totaled at US$ 445.29 million (Rs. 3838.74 crores) is showing a decline of (-) 12.17% (-9.37% Rs. term) as compared to US$ 506.97 million (Rs. 4235.84 crores) for the same period of previous year.  

The overall gross imports of Cut & Polished diamonds in DTA at US$ 98.23 million (Rs. 844.83 crores) is showing a decline of (-)-43.71 (-42.06% Rs. term) as compared to US$ 174.51 million (Rs 1458.23crores) for the same period of April-August 2025. 

The overall gross imports of Cut & Polished diamonds in SEZ at US$ 347.06 million (Rs. 2993.92 crores) is showing a growth of (+)4.39(7.79% Rs. term) as compared to US$ 332.46 million (Rs 2777.61 crores) for the same period of April-August 2025.  

Nayan Jani said, “We know that multiple factors continue to disrupt India’s gem & jewellery exports. De facto, the entire globe is grappling with headwinds, uncertainties, and geopolitical challenges. Yet, India’s exports are resilient. Sooner rather than later, they will carve out new destinations, building on the strength of past networks and market linkages. In this context, one can confidently say that India’s cut & polished diamond exports are preparing for a strong bounce-back!”