India gems and jewellery exports flat in Apr–Feb, diamonds drag

India's gems and jewellery exports remained stagnant during the April-February period of the fiscal year, primarily due to a significant decline in diamond exports. While segments such as silver and platinum jewellery showed strong growth, they were unable to compensate for the downturn in the diamond market, including lab-grown diamonds. This trend raises concerns within the industry, as diamonds have traditionally been a cornerstone of India's jewellery exports. The stagnation in overall exports reflects broader economic challenges and changing consumer preferences, with an increasing shift towards alternative materials. Industry stakeholders are now focused on strategies to revitalize the diamond sector while capitalizing on the growth in silver and platinum markets. As the fiscal year progresses, the sector's performance will be closely monitored, especially in light of potential global market shifts and consumer trends that could impact future exports.