India Jewellery HS7113 Import Data 2025 February Overview

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

India's jewellery imports under HS Code 7113 in February 2025 reveal a market dominated by high-value, premium items, with INDIA itself as the top source by value (21.76%) despite typically being an importer—highlighting a unique trade dynamic. The data shows a clear split in supplier clusters: Gulf countries and India supply high-grade finished jewellery, while Italy provides bulk lower-value components. This analysis, covering February 2025, is based on cleanly processed Customs data from the yTrade database. The recent customs duty cut to 20% may boost demand for premium imports, but new silver jewellery restrictions could disrupt supply chains, urging diversification. Buyer concentration remains a risk, with a few key players driving the market. The trend suggests a shift toward higher-value products, reinforcing India's role as both a consumer and supplier in the global jewellery trade.

India Jewellery (HS 7113) 2025 February Import Background

What is HS Code 7113?

HS Code 7113 covers articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal, including components like hooks, clasps, and pins. This category is critical for the global jewellery industry, driven by consumer demand for luxury goods, wedding markets, and investment in precious metals. India’s role as both a major producer and consumer underscores its significance in this trade flow.

Current Context and Strategic Position

In February 2025, India reduced the basic customs duty (BCD) on HS Code 7113 imports from 25% to 20%, aiming to lower costs and boost domestic consumption [Union Budget]. However, specific silver jewellery items (sub-codes 71131141 & 71131149) were shifted from "Free" to "Restricted" imports until March 2026, reflecting a dual approach to regulate inflows while supporting the broader sector [TaxGuru]. India’s strategic position as a key jewellery market and manufacturing hub necessitates close monitoring of these policy shifts, especially for India Jewellery HS Code 7113 Import 2025 February trends.

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

Key Observations

In February 2025, India's imports of jewellery under HS Code 7113 surged to 241.59 million USD, with a volume of 6.72 thousand kg, marking a significant uptick from the previous month. This performance highlights a robust start to the year for the jewellery import sector.

Price and Volume Dynamics

The month-over-month comparison shows a sharp 64% increase in import value from January's 147.19 million USD, while volume data for January was negligible, indicating a potential data reporting anomaly or seasonal low. Typically, jewellery imports in India are influenced by policy adjustments and pre-festival stock building, but the abrupt rise here aligns more with immediate market reactions to fiscal changes rather than cyclical patterns.

External Context and Outlook

This surge is directly attributable to the Indian government's decision to reduce the basic customs duty on HS Code 7113 imports from 25% to 20%, effective February 2, 2025, as detailed in the [Union Budget]. This policy shift aimed to lower consumer prices and boost domestic demand, explaining the volatile jump in February figures. Looking ahead, while such duty cuts may sustain import momentum, broader economic factors like global precious metal prices and domestic consumption trends will shape the outlook for India Jewellery HS Code 7113 Import in 2025.

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

Product Specialization and Concentration

According to yTrade data, India's jewellery imports under HS Code 7113 in February 2025 are dominated by high-value items, specifically sub-code 71131913 for jewellery made from precious metals excluding silver. This sub-code accounts for nearly half of the total import value with a unit price of 189.89 USD per piece, indicating a focus on premium products. An anomaly is sub-code 71131911, which has an extremely low unit price of 0.10 USD per piece and is isolated from the main analysis due to its bulk nature.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes fall into two clear categories: high-grade jewellery from precious metals like gold or platinum, with unit prices ranging from 63.61 to 189.89 USD per piece, and silver jewellery with lower unit prices between 1.49 and 2.07 USD per piece. This structure shows that India's imports under HS Code 7113 consist of differentiated manufactured goods, not fungible commodities, with distinct quality tiers.

Strategic Implication and Pricing Power

For market players, the high unit prices in precious metal jewellery suggest strong pricing power for premium segments. The recent customs duty reduction to 20% on HS Code 7113 imports, as per Union Budget, may lower costs and boost demand, but restrictions on silver jewellery imports under sub-codes 71131141 and 71131149, noted in (TaxGuru), could limit supply in that category, emphasizing a strategic shift towards higher-value items in India Jewellery HS Code 7113 Import 2025 February.

Check Detailed HS 7113 Breakdown

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

Geographic Concentration and Dominant Role

India's jewellery imports under HS Code 7113 in February 2025 were heavily concentrated, with INDIA itself surprisingly leading as the top source by value share at 21.76%, despite typically being an importer. This high value ratio compared to its low quantity ratio of 0.28 points to imports of high-grade, premium jewellery items, as the value per unit is significantly elevated.

Partner Countries Clusters and Underlying Causes

The source countries form three clear clusters based on trade patterns. INDIA, QATAR, UNITED ARAB EMIRATES, and SAUDI ARABIA make up the first cluster, with high value shares but low quantity shares, indicating they supply finished, high-quality jewellery, likely due to cultural and trade ties in precious metals. THAILAND and the UNITED STATES form a second cluster with moderate value and quantity ratios, suggesting a mix of medium-grade products. ITALY stands alone as a third cluster with an extremely high quantity share of 83.85% but only a 3.41% value share, implying bulk imports of lower-value components or raw materials, possibly due to Italy's role in jewellery part manufacturing.

Forward Strategy and Supply Chain Implications

The reduction in customs duty to 20% on HS Code 7113 imports [Union Budget] from February 2025 could lower costs and increase demand for high-value jewellery from dominant sources like INDIA and Gulf countries. However, new restrictions on specific silver jewellery items [DGFT] may disrupt supply chains for those categories, urging importers to diversify sources or focus on unrestricted, premium products to mitigate risks.

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

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

Strategic Supply Chain Overview

India Jewellery Import 2025 February under HS Code 7113 is driven by high-value, manufactured products. Price is set by product specifications like precious metal content and OEM contract volumes for premium items. The recent customs duty cut to 20% lowers costs but restrictions on silver jewellery create supply risks. India acts as an assembly hub, relying on high-grade imports from Gulf partners and bulk components from Italy. This structure emphasizes technology and brand dependence over commodity trading.

Action Plan: Data-Driven Steps for Jewellery Market Execution

• Analyze HS Code 7113 sub-codes by unit price to target premium jewellery buyers. This maximizes margin by focusing on high-value products.
• Use buyer frequency data to schedule inventory for high-volume importers. This prevents stockouts and secures recurring revenue.
• Map supplier countries by value-to-quantity ratios to diversify sources. This reduces risk from single-region disruptions or policy changes.
• Track customs duty changes and restrictions in real-time to adjust procurement. This avoids cost spikes and compliance issues.
• Engage infrequent high-value buyers with tailored bulk offers. This captures large orders without over-relying on regular clients.

Take Action Now —— Explore India Jewellery Import Data

Frequently Asked Questions

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

The surge in imports to 241.59 million USD in February 2025 is primarily due to India’s customs duty reduction from 25% to 20%, which boosted demand for high-value jewellery, especially premium items under HS Code 7113.

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

INDIA itself leads as the top source (21.76% value share), followed by QATAR, UAE, and SAUDI ARABIA, which collectively supply high-grade finished jewellery. ITALY dominates quantity (83.85%) but contributes lower-value bulk components.

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

Prices vary due to product specialization: INDIA and Gulf countries supply high-value jewellery (e.g., 71131913 at 189.89 USD/piece), while ITALY’s bulk imports (e.g., 71131911 at 0.10 USD/piece) skew lower.

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

Importers should prioritize high-value, frequent buyers (65.07% of import value) and diversify sources to mitigate risks from restrictions on silver jewellery imports.

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

Suppliers of premium jewellery (e.g., INDIA, Gulf nations) have stable demand, while bulk exporters (e.g., ITALY) face lower margins but consistent volume opportunities.

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

Imported jewellery under HS Code 7113 serves as differentiated finished goods for retail, with high-grade items targeting luxury markets and silver jewellery catering to broader consumer segments.