India Jewellery HS7113 Import Data 2025 March Overview

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

India’s jewellery imports under HS Code 7113 in March 2025 reveal Thailand as the dominant supplier by volume (87.36%) but with lower unit prices, signaling bulk, cost-effective sourcing. High buyer concentration and reliance on mass-market suppliers like Thailand and Indonesia highlight supply chain risks, while premium markets like France and Germany offer high-value alternatives. This analysis, covering March 2025, is based on processed Customs data from the yTrade database.

India Jewellery (HS 7113) 2025 March 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, a major producer and consumer, relies on imports for both raw materials and finished jewellery to meet domestic and export demand.

Current Context and Strategic Position

In March 2025, India reduced the basic customs duty on HS Code 7113 imports from 25% to 20%, aligning with the Union Budget 2025 to lower costs for jewellery buyers and businesses [Union Budget]. However, specific silver jewellery items (ITC HS codes 71131141 & 71131149) remain restricted until March 2026 to curb duty evasion and protect local manufacturers [TaxGuru]. India’s jewellery import market is strategically significant due to its dual role as a manufacturing hub and consumer powerhouse, necessitating close monitoring of policy shifts and global price trends in 2025.

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

Key Observations

India's jewellery imports under HS Code 7113 in March 2025 were valued at 235.97 million USD with a volume of 22.66 thousand kg, indicating a complex market shift during this period.

Price and Volume Dynamics

Month-over-month, import value decreased slightly from February's 241.59 million USD to 235.97 million USD, while volume surged dramatically from 6.72 thousand kg to 22.66 thousand kg. This divergence suggests a potential drop in average prices or a shift toward lower-value jewellery items, which may reflect typical industry stock replenishment cycles ahead of seasonal demand peaks, such as wedding seasons in India. However, the magnitude of the volume increase points to external influences beyond mere seasonal patterns.

External Context and Outlook

The Union Budget 2025 announcement in February proposed a reduction in customs duty on jewellery imports from 25% to 20% effective May 1, 2025 [Union Budget], likely driving importers to accelerate volumes in March to avoid higher costs post-implementation. This policy change explains the volume spike and value adjustment, with future trends expected to stabilize as the new duty rates take effect, though ongoing restrictions on silver jewellery imports may add complexity to the outlook.

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

Product Specialization and Concentration

According to yTrade data, the India Jewellery HS Code 7113 Import market in 2025 March is dominated by high-value precious metal jewellery, specifically the sub-code for jewellery of precious metal excluding silver, with a unit price of $218.48 per piece, accounting for over one-third of the total import value. This high unit price indicates a specialization in premium, finished goods. Notably, silver jewellery sub-codes with unit prices below $10 per piece, such as those for silver jewellery, are isolated as anomalies due to their bulk, low-value nature, which distorts the average and suggests a separate market segment.

Value-Chain Structure and Grade Analysis

The non-anomalous sub-codes are grouped into two main categories: high-grade precious metal jewellery excluding silver, with unit prices ranging from $25 to $218 per piece, and mid-range precious metal items. This structure shows a trade in differentiated manufactured goods, not fungible commodities, as unit prices vary significantly based on metal type and craftsmanship, reflecting value-add stages from basic parts to finished jewellery.

Strategic Implication and Pricing Power

For market players, the high unit prices in non-silver segments grant stronger pricing power, while the bulk silver imports face constraints due to recent import restrictions [TaxGuru]. The duty reduction to 20% on HS Code 7113, as noted in budget documents, makes high-value jewellery more affordable for importers (India Budget). Strategic focus should prioritize premium precious metal jewellery to leverage higher margins and avoid the regulated silver segment.

Check Detailed HS 7113 Breakdown

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

Geographic Concentration and Dominant Role

In March 2025, India's jewellery imports under HS Code 7113 were heavily concentrated, with Thailand as the dominant supplier by value, holding a 28.89% share. However, Thailand's value ratio is significantly lower than its quantity ratio (87.36%), indicating a lower unit price per piece, which suggests imports of bulk or lower-grade jewellery items rather than high-end products. This pattern points to Thailand serving as a key source for cost-effective, mass-market jewellery components for India.

Partner Countries Clusters and Underlying Causes

The importing countries form three clear clusters based on trade patterns. First, high-volume, lower-value suppliers like Thailand and Indonesia (quantity ratio 2.02%, value ratio 1.45%) likely provide mass-produced or basic jewellery, driven by cost efficiency and proximity. Second, balanced partners such as India (if re-imports or domestic sources), China Hongkong, and the United States offer mid-range products, possibly due to diverse manufacturing capabilities. Third, low-volume, high-value sources like France, Germany, and the United Kingdom (e.g., France value ratio 1.48%, quantity ratio 0.02%) specialize in luxury or branded jewellery, reflecting higher quality and design premiums.

Forward Strategy and Supply Chain Implications

For market players, the geographic trends suggest prioritizing Thailand for bulk sourcing to leverage lower costs, especially with the recent customs duty cut from 25% to 20% on HS Code 7113 jewellery, making imports more affordable [Union Budget]. However, be cautious of restrictions on specific silver jewellery (HS codes 71131141 and 71131149), which require licenses until March 2026, potentially disrupting supply chains for those items (TaxGuru). Adjust sourcing strategies to mix cost-effective options with premium suppliers for product diversification.

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

The India Jewellery Import 2025 March market under HS Code 7113 is driven by two key price factors. First, product specification dictates value, with premium non-silver items commanding over $200 per piece. Second, OEM contract volumes from dominant high-frequency buyers shape bulk pricing. Supply chains face dual implications. India acts as an assembly hub for mid-range jewellery from regional partners like Thailand. It also depends on technology and brand inputs from high-value European suppliers. Recent duty cuts boost affordability but silver import restrictions add compliance risk.

Action Plan: Data-Driven Steps for Jewellery Market Execution

• Prioritize premium non-silver jewellery imports by analyzing HS Code 7113 sub-categories with unit prices above $25. This captures higher margins and avoids regulated silver segments.
• Nurture relationships with high-value frequent buyers using trade data to identify their order patterns. This secures recurring revenue from clients driving 54% of market value.
• Diversify sourcing between Thailand for bulk parts and European suppliers for luxury finishes. This balances cost efficiency with quality differentiation in your product mix.
• Monitor regulatory updates monthly for changes to silver jewellery restrictions under HS codes 71131141/71131149. This prevents supply chain disruptions from compliance failures.

Take Action Now —— Explore India Jewellery Import Data

Frequently Asked Questions

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

The surge in volume (22.66 thousand kg) alongside a slight value drop suggests importers accelerated purchases ahead of a May 2025 customs duty reduction from 25% to 20%, prioritizing bulk orders to avoid higher costs.

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

Thailand dominates with 28.89% of import value but supplies lower-priced bulk items, while France and Germany contribute high-value, low-volume luxury jewellery.

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

Prices vary due to product grade: Thailand’s low-cost silver jewellery (under $10/piece) contrasts with France/Germany’s premium precious metal items (up to $218/piece).

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

Prioritize high-value, frequent buyers (54.67% of trade) and diversify sourcing between Thailand’s bulk items and European luxury suppliers to balance cost and quality.

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

Thailand’s bulk-focused role offers stable demand, while European suppliers can leverage India’s premium segment, though silver jewellery faces regulatory restrictions until 2026.

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

Imports serve both mass-market demand (low-cost silver items) and high-end consumer segments (precious metal jewellery), reflecting India’s dual-tier jewellery market.