India Jewellery HS7113 Import Data 2025 July Overview

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

India’s jewellery imports under HS Code 7113 in July 2025 reveal Thailand as the dominant high-value supplier, accounting for 62% of import value but just 57% of quantity—highlighting its role in premium finished goods. Italy, by contrast, delivers bulk components with 36% of quantity but only 4% of value, offering cost-effective sourcing. The U.S. emerges as a niche luxury player, contributing 13% of value from minimal volume. This analysis, covering July 2025, is based on cleanly processed Customs data from the yTrade database.

India Jewellery (HS 7113) 2025 July 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 items like hooks, clasps, and other components used in jewellery manufacturing. This category is critical for India’s domestic jewellery industry, which relies on imports for both finished products and parts to meet consumer demand and artisanal production needs. Global demand remains stable due to jewellery’s cultural significance and its role as a store of value.

Current Context and Strategic Position

In July 2025, India’s import policy for HS Code 7113 saw significant changes, with the basic customs duty (BCD) reduced from 25% to 20% under the Union Budget 2025 [India Budget]. However, specific silver jewellery items (sub-codes 71131141 & 71131149) were moved from "Free" to "Restricted" until March 2026, requiring government licenses [TaxGuru]. These measures aim to balance cheaper imports with protection for domestic manufacturers. India’s jewellery imports under HS Code 7113 remain strategically important, driven by both consumer demand and industrial needs, warranting close market monitoring.

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

Key Observations

India's Jewellery imports under HS Code 7113 for July 2025 reached 363.96 million USD in value and 56.86 thousand kg in volume, indicating a mixed performance with value dropping from previous highs while volume surged.

Price and Volume Dynamics

The July figures show a 17.6% month-over-month decline in value from June's 441.53 million USD, coupled with a 77.5% increase in weight, suggesting a shift towards lower-value or bulkier items, possibly due to seasonal stock adjustments post-festive demand cycles. This volatility aligns with typical industry patterns where post-budget policy changes, like the duty reduction in May, often trigger initial import spikes followed by normalization, as importers recalibrate orders based on cost savings and inventory needs.

External Context and Outlook

The observed trends are directly influenced by India's recent policy shifts, including the customs duty cut from 25% to 20% on jewellery imports under HS Code 7113 effective May 1, 2025 [India Budget], which encouraged higher volume imports despite value fluctuations. Looking ahead, the restricted import policy for specific silver jewellery items (India Budget) from September 2025 may further reshape trade flows, potentially stabilizing prices but limiting variety, underscoring a balanced approach between affordability and domestic industry protection.

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

Product Specialization and Concentration

According to yTrade data, India's Jewellery HS Code 7113 Import in 2025 July is dominated by silver jewellery under sub-code 71131141, which accounts for over half the import value. This product, described as jewellery of silver whether or not plated with other precious metal, has a low unit price of just over 1 USD per piece but high volume, indicating a focus on mass-market, low-value items. An anomaly is present in sub-code 71131144, with a unit price over 220 USD, which is isolated from the main analysis due to its extreme deviation.

Value-Chain Structure and Grade Analysis

The remaining sub-codes fall into two clear groups: low-grade silver jewellery like 71131149 with unit prices under 2 USD, and higher-grade precious metal jewellery excluding silver, such as 71131913 and 71131911, with unit prices ranging from 67 to 108 USD. This structure shows a mix of fungible bulk commodities in the silver segment and more differentiated, finished goods in the non-silver category, suggesting varied trade dynamics within India's jewellery imports.

Strategic Implication and Pricing Power

For market players, the high-volume low-value silver jewellery offers little pricing power due to competition, while the premium non-silver items allow for better margins. Recent policy changes, including a customs duty cut to 20% on HS Code 7113 [Union Budget] and import restrictions on specific silver jewellery (TaxGuru), may increase cost pressures on silver imports but create opportunities in higher-value segments, requiring strategic adjustments in sourcing and compliance.

Check Detailed HS 7113 Breakdown

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

Geographic Concentration and Dominant Role

Thailand clearly leads India's jewellery import market for July 2025, accounting for 61.97% of the total import value but only 56.54% of the quantity. This gap between high value share and relatively lower quantity share points to Thailand supplying higher-grade, more expensive jewellery pieces to India. The United States shows a similar but smaller pattern, with a 13.04% value share from just 0.44% of quantity, indicating very high-value items. In contrast, Italy provides a huge 36.23% of the quantity with only a 3.54% value share, suggesting it is a major source of bulk, lower-value jewellery components or findings.

Partner Countries Clusters and Underlying Causes

Suppliers break into three clear groups. First, Thailand and the US form a high-value cluster, likely sending finished luxury or branded jewellery. Second, Italy operates as a bulk supplier, probably providing large volumes of semi-finished goods or base materials. Third, a diverse group including India, China Hong Kong, and France represents smaller, niche suppliers. India's own presence in the top 10 suggests some degree of re-importation or trade in specialized artisan products.

Forward Strategy and Supply Chain Implications

For businesses planning India Jewellery HS Code 7113 Import in 2025 July, the data suggests a dual strategy. Prioritize building strong relationships with Thai partners for high-margin finished goods. The recent cut in basic customs duty on these imports from 25% to 20% [Union Budget] makes this sourcing more financially viable. Simultaneously, maintain Italy for cost-effective bulk sourcing of components, but be aware of new restrictions on specific silver jewellery items [TaxGuru] which require licenses and could disrupt supply chains for those products.

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

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

Strategic Supply Chain Overview

India Jewellery Import 2025 July under HS Code 7113 is driven by two key price factors. Product grade dictates cost: low-value silver items (under 2 USD/unit) compete on volume, while high-value non-silver pieces (67-108 USD/unit) allow margin control. Sourcing origin also impacts price: Thailand and the US supply premium finished goods, while Italy provides bulk, lower-cost components. These dynamics create a hybrid supply chain: India acts as an assembly hub for mass-market silver goods and a destination for high-end branded jewellery. Recent policy shifts—like the customs duty cut to 20% and silver import restrictions—add cost pressure on bulk silver but boost competitiveness for finished non-silver imports.

Action Plan: Data-Driven Steps for Jewellery Market Execution

• Prioritize Thai and US suppliers for high-margin finished goods using trade data to identify partners with consistent high-value shipments. This captures the premium segment where India has growing demand.
• Diversify buyer engagement beyond the dominant high-frequency segment by analyzing niche buyer clusters for custom or low-volume orders. This reduces dependency on bulk buyers and taps into specialized markets.
• Monitor real-time policy updates on silver import licenses to avoid supply disruptions for HS Code 7113 items. This ensures compliance and prevents costly delays under new restrictions until March 2026.
• Analyze sub-code level data (e.g., 71131144 anomalies) to spot premium product opportunities and avoid low-margin bulk traps. This maximizes profitability by focusing on high-unit-price items.
• Leverage Italy for cost-effective component sourcing but validate quantity-value ratios to avoid overstocking low-value items. This optimizes inventory costs and maintains supply chain flexibility.

Take Action Now —— Explore India Jewellery Import Data

Frequently Asked Questions

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

The 17.6% drop in import value alongside a 77.5% volume surge reflects a shift toward lower-value bulk imports, likely due to post-budget policy adjustments like the May 2025 customs duty cut from 25% to 20%.

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

Thailand dominates with 61.97% of import value, followed by the US (13.04%) and Italy (3.54%), with Italy supplying 36.23% of the volume but lower-value items.

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

Price gaps stem from product specialization: Thailand and the US ship high-grade finished jewellery (e.g., sub-code 71131913 at 67–108 USD/unit), while Italy provides bulk silver components (e.g., 71131141 at ~1 USD/unit).

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

Prioritize Thailand for high-margin finished goods and Italy for cost-effective bulk components, while complying with new silver jewellery restrictions effective September 2025.

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

Thailand and US suppliers benefit from stable high-value demand, while bulk suppliers like Italy must adapt to silver import restrictions. Niche players face limited opportunities due to buyer concentration.

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

India’s imports serve mass-market silver segments (low-value, high-volume) and premium non-silver jewellery (high-value, lower volume), catering to diverse retail and wholesale demand.