India Jewellery HS7113 Import Data 2025 May Overview

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

India’s jewellery imports under HS Code 7113 in May 2025 reveal Thailand as the dominant supplier, accounting for 97.21% of quantity but just 49.06% of value—highlighting its role as a cost-effective sourcing hub for mass-produced items. Premium jewellery imports from the US and Italy show higher unit prices but lower volumes. This analysis, based on cleanly processed Customs data from the yTrade database, covers May 2025.

India Jewellery (HS 7113) 2025 May 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 gold, silver, and platinum jewellery. This category is critical for luxury retail, gifting, and investment markets, with stable global demand driven by cultural significance and industrial applications. India’s jewellery sector, a key consumer and exporter, relies heavily on imports under this code to meet domestic and international demand.

Current Context and Strategic Position

Starting May 2025, India reduced the basic customs duty (BCD) on HS Code 7113 jewellery imports from 25% to 20%, aiming to lower costs for buyers and boost trade [Union Budget]. However, specific silver jewellery items (sub-codes 71131141 & 71131149) remain restricted until March 2026, requiring import licenses [TaxGuru]. India’s strategic position as a major jewellery importer underscores the need for vigilance on policy shifts and market trends in 2025, particularly for HS Code 7113 shipments entering during May.

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

Key Observations

In May 2025, India's imports of jewellery under HS Code 7113 surged to 293.49 million USD with a volume of 43,370 kg, reflecting a sharp uptick driven by policy-induced demand.

Price and Volume Dynamics

The month-over-month comparison shows a 53.6% increase in value and a 39.6% rise in volume from April to May 2025, indicating strong import momentum. This spike aligns with typical industry stock replenishment cycles ahead of festive seasons, but was primarily fueled by the customs duty reduction effective May 1, 2025, which encouraged bulk purchasing to capitalize on lower costs.

External Context and Outlook

The import surge is directly attributable to the Indian government's policy change, reducing the basic customs duty on jewellery from 25% to 20% starting May 1, 2025 [Union Budget]. While this supports continued import growth, restrictions on specific silver jewellery until March 2026 (TaxGuru) may introduce volatility, though overall demand for India Jewellery HS Code 7113 Import in 2025 remains positive.

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

Product Specialization and Concentration

In May 2025, India's imports under HS Code 7113 were heavily concentrated in low-value silver jewellery, according to yTrade data. The dominating sub-code is 71131141, described as "Jewellery; of silver, whether or not plated or clad with other precious metal, and parts thereof", which accounted for over one-third of the import value but three-quarters of the quantity, with a unit price of just 1.63 USD per unit, indicating a high-volume, low-value specialization. An extreme price anomaly was isolated for sub-code 71131923, with a unit price of 1030.95 USD per unit, far exceeding others.

Value-Chain Structure and Grade Analysis

The remaining non-anomalous sub-codes fall into two clear categories based on unit price and material. First, silver-based jewellery (e.g., 71131141 and 71131149) has unit prices under 2 USD per unit, representing bulk, commodity-like trade with low value addition. Second, other precious metal jewellery (e.g., 71131913 and 71131914) ranges from 73 to 263 USD per unit, indicating differentiated, manufactured goods with higher quality and value. This structure shows a split between fungible bulk items and specialized finished products.

Strategic Implication and Pricing Power

For India Jewellery HS Code 7113 Import in 2025 May, the bulk silver items face reduced pricing power due to import restrictions, while other categories may benefit from duty cuts. As per Union Budget, the basic customs duty was reduced from 25% to 20% for most jewellery, but silver sub-codes are restricted until March 2026, pushing importers toward higher-value non-silver options to capitalize on lower tariffs.

Check Detailed HS 7113 Breakdown

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

Geographic Concentration and Dominant Role

In May 2025, India's jewellery imports under HS Code 7113 show strong geographic concentration, with Thailand as the dominant source, accounting for 49.06% of import value but 97.21% of quantity. This disparity, where value ratio is lower than quantity ratio, indicates that Thailand supplies lower unit price jewellery, likely mass-produced or cost-effective items, fitting its role as a key sourcing hub for basic jewellery into India.

Partner Countries Clusters and Underlying Causes

The import partners form two main clusters: first, Thailand stands out with high volume and low unit price, likely due to its efficient, large-scale jewellery manufacturing. Second, countries like the United States and Italy have lower quantity but higher unit prices (e.g., US value ratio 11.93 vs. quantity ratio 0.65), suggesting they supply premium or luxury jewellery. A third cluster includes minor sources like France and China Hongkong with mixed patterns, possibly offering niche or varied products.

Forward Strategy and Supply Chain Implications

For India Jewellery HS Code 7113 Import in 2025 May, the duty cut from 25% to 20% [Union Budget] makes imports cheaper, but restrictions on silver jewellery until March 2026 [TaxGuru] require licenses. Importers should prioritize non-silver jewellery from Thailand for cost savings, while ensuring compliance for silver items to avoid disruptions.

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

Get Complete Partner Countries Profile

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

Strategic Supply Chain Overview

The India Jewellery Import 2025 May market under HS Code 7113 is driven by two key price factors. First, product specification defines value: low-cost silver items (e.g., 71131141 at 1.63 USD/unit) dominate volume, while premium non-silver jewellery (e.g., 71131914 at 263 USD/unit) drives value. Second, OEM contract volumes from dominant high-frequency buyers control 83% of import value, creating reliance on large orders. Supply chain implications include assembly hub dependency on Thailand for mass-produced items and technology/brand reliance on partners like Italy for high-end goods. Regulatory shifts, like silver import restrictions until March 2026 and duty cuts to 20%, add cost volatility and compliance risks.

Action Plan: Data-Driven Steps for Jewellery Market Execution

• Target non-silver HS codes like 71131913/14 using partner data to capitalize on duty cuts and avoid silver license delays, boosting profit margins.
• Analyze buyer frequency reports to identify top clients' order cycles and align production schedules, reducing inventory gaps or overstock risks.
• Diversify sourcing beyond Thailand for premium segments by evaluating US and Italian supplier unit prices, mitigating supply chain concentration.
• Monitor regulatory updates monthly via budget portals to adjust HS code strategies preemptively, avoiding compliance penalties and shipment holds.
• Engage frequent low-value buyers with bundled offers to build secondary revenue streams, reducing reliance on dominant importers.

Take Action Now —— Explore India Jewellery Import Data

Frequently Asked Questions

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

India's jewellery imports surged by 53.6% in value and 39.6% in volume due to a customs duty cut from 25% to 20% effective May 2025, encouraging bulk purchases. Restrictions on silver jewellery until March 2026 add volatility.

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

Thailand dominates with 49.06% of import value, followed by the US (11.93%) and Italy. Thailand supplies 97.21% of the quantity, reflecting its role as a low-cost, high-volume sourcing hub.

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

Prices vary by material and grade: Thailand’s bulk silver jewellery (e.g., HS 71131141) averages 1.63 USD/unit, while the US and Italy supply premium items (73–263 USD/unit) like gold or platinum jewellery.

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

Prioritize non-silver jewellery from Thailand for cost efficiency and comply with silver import restrictions. Maintain relationships with dominant high-value buyers (83% of trade) while diversifying among smaller frequent purchasers.

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

Thailand’s suppliers benefit from high-volume demand, while US/Italian exporters can leverage premium pricing. All must adapt to India’s silver import restrictions and duty cuts to remain competitive.

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

Imported jewellery serves both mass-market (low-cost silver items) and luxury segments (high-value precious metal pieces), catering to India’s domestic retail and festive demand.