GJEPC on Export Trends, Gold Imports, and Growth
AHMEDABAD, 20TH November: Mr. Kirit Bhansali, Chairman, GJEPC, on Export Trends, Gold Imports, and Growth: “The April–October period reflects the steady and resilient progress of India’s gem and jewellery sector in a year shaped by global challenges. Our exports for these seven months stood at US$16.26 billion, a marginal decline of 2.72% in dollar terms, while in rupee terms they grew by 0.86% to ₹1,41,101.69 crore. I am encouraged to see strong year-to-date growth in key segments such as gold jewellery, silver jewellery, and platinum jewellery, supported by sustained retail demand across major international markets. These trends underline the inherent strength and adaptability of our industry.”
Import of gold in October 2025
| Month | 2023-24 | 2024-25 | 2025-26 | |||
| Qty in Tonnes | US$ Million | Qty in Tonnes | US$ Million | Qty in Tonnes | US$ Million | |
| April | 16.66 | 1,007.94 | 40.30 | 2,953.51 | 34.87 | 3,097.00 |
| May | 63.30 | 3,693.47 | 40.62 | 2,917.42 | 30.56 | 2,549.78 |
| June | 89.39 | 4,996.08 | 35.32 | 2,476.11 | 24.78 | 1839.08 |
| July | 62.73 | 3503.24 | 47.72 | 3491.20 | 43.14 | 3,973.90 |
| August | 86.20 | 4,938.51 | 175.41 | 12553.49 | 64.18 | 5439.26 |
| September | 70.79 | 4110.9 | 61.85 | 4646.62 | 110.00 | 9615.47 |
| October | 121.93 | 7229.94 | 60.63 | 4920.92 | 165.00 | 14724.4 |
| Total | 511.00 | 29480.08 | 461.85 | 33959.27 | 472.53 | 41238.88 |
| Average | 73.00 | 4211.44 | 65.98 | 4851.32 | 67.50 | 5891.27 |
“On the domestic front, it is important to view the recent surge in gold imports in the right context. The rise in October was driven overwhelmingly by festive and wedding-season demand, greater consumer liquidity following GST reforms, and a nearly 50% increase in global gold prices, which inflated the value of imports. In physical terms, however, the picture remains stable. Between April and October 2025, gold imports increased only 2.3%, from 461.85 tonnes to 472.53 tonnes. This clearly shows that the fundamentals of domestic consumption have not changed; people simply paid more for roughly the same quantity of gold. The October spike reflects seasonal buying, cultural traditions, and investment-led sentiment, all positive indicators of consumer confidence.”
