India’s jewellery exports rose 19 per cent year-on-year to USD 2.52 billion in November, driven by strong demand for diamonds, gold, silver and platinum. Rising demand also pushed gold prices higher, with 24-carat gold crossing Rs 1.33 lakh per 10 grams in Mumbai
Representational Image. File Pic
India’s jewellery exports rose 19 per cent in November to USD 2.52 billion from USD 2.09 billion a year earlier, driven by gains in cut and polished diamonds, gold, silver and platinum jewellery.
The sudden surge in demand for the yellow metal has also caused a significant increase in the prices across India. The price of 24-carat gold in Mumbai on Saturday stood at Rs 1,33,350 for 10 grams. While the prices in other cities also experienced a minor hike.
Multiple reports have also indicated that the YoY improvement in November was due to a low base from November 2024, when Diwali holidays closed many manufacturing units, as per IANS.
Exporters also attributed the growth during November to strong Christmas demand in the US and China. However, for the April–November period, overall growth remained muted as the exports were flat at USD 18.86 billion in 2025 compared to USD 18.85 billion in 2024, reported IANS.
Gold prices in Mumbai
The yellow metal did see a slight inclination in prices across the financial capital on Saturday. The price of 24-carat gold in Mumbai stood at Rs 1,33,350 for 10 grams, while that of 22-carat gold was recorded at Rs 1,22,250.
Gold prices in Delhi
Apart from Mumbai, gold prices in the national capital on Saturday also experienced a hike. The price of 24-carat gold was recorded at Rs 1,33,490 for 10 grams, while that of 22-carat gold was Rs 1,22,390 for 10 grams.
Lab-grown diamond experiences traction
Analysts noted that lab-grown diamond (LGD) jewellery is also seeing good traction, as exports rose 10 per cent to USD 76 million in November but were down 11 per cent for April–November to $757 million, as per IANS.
Furthermore, cut and polished diamond (CPD) exports also surged 38 per cent to USD 919.74 million in November. Gold jewellery exports in November totalled $1.21 billion, marginally lower than USD 1.23 billion a year earlier.
Silver surges 209 per cent
Silver jewellery surged 209 per cent to USD 198 million in November and rose 29.69 per cent to USD 930 million for the April–November period.
Benefiting from a 35 per cent rise in platinum prices in US dollars, November exports nearly doubled to USD 30 million from USD 15 million in 2024.
(With inputs from IANS)
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