India Jewellery HS7113 Import Data 2025 April Overview

India Jewellery (HS 7113) 2025 April Import: Key Takeaways

India’s jewellery imports under HS Code 7113 in April 2025 reveal a market dominated by Thailand, which supplied 82.58% of volume but just 56.93% of value, highlighting its role as a bulk, cost-effective source. The impending duty cut to 20% may further boost affordability, while silver jewellery restrictions until March 2026 could disrupt supply chains. This analysis is based on cleanly processed Customs data from the yTrade database, covering April 2025.

India Jewellery (HS 7113) 2025 April Import Background

What is HS Code 7113?

HS Code 7113 covers articles of jewellery and parts thereof, made of precious metals or metals clad with precious metals. This includes items like gold, silver, and platinum jewellery, as well as components such as clasps, hooks, and pins used in jewellery manufacturing. The category is critical for luxury retail, gifting, and cultural markets, driving consistent global demand due to its association with wealth preservation and ceremonial use.

Current Context and Strategic Position

In April 2025, India reduced the basic customs duty (BCD) on HS Code 7113 imports from 25% to 20%, aiming to lower costs for buyers and curb duty evasion [Union Budget]. Simultaneously, the government restricted imports of specific silver jewellery (ITC HS codes 71131141 and 71131149) until March 2026, requiring licenses to protect domestic manufacturers [TaxGuru]. India’s jewellery market remains strategically significant due to its cultural demand and role as a global manufacturing hub, necessitating close monitoring of policy shifts and trade flows under HS Code 7113 in 2025.

India Jewellery (HS 7113) 2025 April Import: Trend Summary

Key Observations

In April 2025, India's imports of jewellery under HS Code 7113 totaled 191.10 million USD with a volume of 31.07 thousand kg, marking a noticeable decrease from the elevated levels seen in February and March.

Price and Volume Dynamics

The import value dropped by 19% month-over-month from March's 235.97 million USD, reflecting a typical post-seasonal cooling in demand. Jewellery imports often surge in early 2025 due to festival and wedding demand, but April's decline aligns with the industry's cyclical pattern as inventory replenishment slows after peak periods.

External Context and Outlook

This downturn was likely influenced by India's import duty reduction from 25% to 20% on HS Code 7113 items, effective May 1, 2025 [indiabudget.gov.in], which may have prompted importers to delay shipments for cost savings. Combined with new restrictions on silver jewellery (indiabudget.gov.in), these policy shifts are expected to reshape import flows, potentially stabilizing volumes in the coming months amid adjusted trade strategies.

India Jewellery (HS 7113) 2025 April Import: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, India's jewellery imports under HS Code 7113 in April 2025 are heavily concentrated in silver-based items, with HS Code 71131141 for silver jewellery dominating at a 44% value share and 67% quantity share, despite a low unit price of 1.63 USD per piece. This indicates a high-volume, low-value specialization in mass-market silver products. An extreme price anomaly is present in HS Code 71131923 for high-end precious metal jewellery, with a unit price of 239.14 USD per piece, which is isolated from the main analysis due to its outlier nature.

Value-Chain Structure and Grade Analysis

The remaining sub-codes fall into two clear categories: silver jewellery (e.g., 71131149, 71131144) with unit prices under 24 USD per piece, and other precious metal jewellery (e.g., 71131913, 71131919) with prices ranging from 3 to 44 USD per piece. This structure shows a trade in differentiated manufactured goods, not fungible commodities, with distinct quality grades—silver items serving as affordable options and non-silver pieces targeting higher-value segments.

Strategic Implication and Pricing Power

For India Jewellery HS Code 7113 Import 2025 April, the high volume of low-priced silver imports suggests limited pricing power for buyers, but recent policy changes like the customs duty cut from 25% to 20% [Union Budget] and restrictions on specific silver codes (Union Budget) may increase costs and shift focus to domestic alternatives. Importers should prioritize sourcing higher-margin non-silver jewellery to mitigate risks and leverage the duty reduction for cost savings.

Check Detailed HS 7113 Breakdown

India Jewellery (HS 7113) 2025 April Import: Market Concentration

Geographic Concentration and Dominant Role

In April 2025, India's jewellery imports under HS Code 7113 were highly concentrated, with Thailand dominating as the top source by quantity and value. Thailand accounted for 82.58% of the quantity but only 56.93% of the value, indicating a lower unit price and suggesting it supplies more affordable, bulk jewellery to India. This disparity points to Thailand's role in providing cost-effective products for the mass market.

Partner Countries Clusters and Underlying Causes

The import partners form two main clusters: first, Thailand and China Hong Kong, which show high quantity shares but lower value per unit, likely due to their focus on producing and exporting economical jewellery pieces. Second, the United States and Italy have higher value per unit despite lower quantities, implying they source premium or designer jewellery, catering to luxury segments. Other countries like India itself (with high frequency but low volume) may involve small shipments or re-imports, while the UAE and France contribute smaller, varied volumes.

Forward Strategy and Supply Chain Implications

The impending reduction in import duty to 20% from May 2025 [India Budget] could make sourcing from high-volume countries like Thailand even more cost-effective, potentially boosting imports for budget-conscious buyers. However, restrictions on specific silver jewellery until March 2026 [TaxGuru] may require importers to seek alternatives or secure licenses, affecting supply chains focused on silver items. Businesses should prioritize diversifying sources to balance cost and compliance risks.

Table: India Jewellery (HS 7113) Top Partner Countries (Source: yTrade)

Get Complete Partner Countries Profile

India Jewellery (HS 7113) 2025 April Import: Action Plan for Jewellery Market Expansion

Strategic Supply Chain Overview

India Jewellery Import 2025 April under HS Code 7113 is defined by two core price drivers. First, product specification drives cost: high-volume, low-value silver items (e.g., HS Code 71131141 at 1.63 USD/unit) dominate, while niche high-end pieces (e.g., 71131923 at 239.14 USD/unit) serve premium segments. Second, OEM/contract volume from dominant high-frequency buyers (88.71% value share) dictates bulk pricing. Supply chain implications center on assembly hub dependence: Thailand supplies 82.58% of volume for mass-market assembly, but policy shifts like the customs duty cut to 20% and silver import restrictions until March 2026 add cost and compliance risks. Traditional methods fail by missing sub-component details (e.g., silver vs. non-silver breakdowns) and individual buyer patterns, obscuring profit opportunities.

Action Plan: Data-Driven Steps for Jewellery Market Execution

• Filter HS Code 7113 data by unit price to isolate high-margin non-silver jewellery (e.g., codes above 24 USD/unit), avoiding low-value silver items restricted until 2026. This maximizes duty reduction benefits and boosts margins.
• Prioritize high-value high-frequency buyers (88.71% value share) for contract negotiations, using their transaction history to forecast demand cycles. This secures stable revenue and reduces inventory overstock risk.
• Diversify sourcing beyond Thailand by adding partners like Italy or the US for premium segments, balancing cost efficiency with quality. This mitigates supply chain disruption from geopolitical or policy changes.
• Analyze buyer frequency clusters to create tailored sales models: bulk discounts for high-volume importers and flexible terms for occasional large orders. This captures value across all segments and reduces reliance on one group.
• Monitor real-time regulatory updates for HS Code 7113, especially duty changes and silver restrictions, to adjust sourcing and compliance checks immediately. This prevents costly delays or penalties.

Take Action Now —— Explore India Jewellery Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Jewellery Import 2025 April?

India's jewellery imports dropped 19% month-over-month in April 2025, reflecting post-seasonal cooling after peak demand. The decline was likely influenced by importers delaying shipments ahead of a May 2025 duty cut from 25% to 20% and new restrictions on silver jewellery.

Q2. Who are the main partner countries in this India Jewellery Import 2025 April?

Thailand dominated with 82.58% of quantity and 56.93% of value, followed by China Hong Kong, the US, and Italy. Thailand’s bulk shipments contrast with the US and Italy’s premium, lower-volume exports.

Q3. Why does the unit price differ across India Jewellery Import 2025 April partner countries?

Price gaps stem from product specialization: Thailand supplies low-cost silver jewellery (e.g., HS Code 71131141 at 1.63 USD/unit), while the US and Italy export high-value precious metal pieces (e.g., HS Code 71131923 at 239.14 USD/unit).

Q4. What should importers in India focus on when buying Jewellery?

Importers should prioritize high-margin non-silver jewellery to offset risks from silver import restrictions and leverage duty cuts. Diversifying suppliers beyond Thailand can balance cost and compliance risks.

Q5. What does this India Jewellery import pattern mean for overseas suppliers?

Suppliers of affordable silver jewellery (e.g., Thailand) face demand volatility due to India’s restrictions, while premium exporters (e.g., Italy) can target high-value buyers seeking differentiated products.

Q6. How is Jewellery typically used in this trade flow?

Imported jewellery serves India’s mass-market demand (via bulk silver items) and luxury segments (through designer/precious metal pieces), with cyclical demand tied to festivals and weddings.