Export Decline: −1.80% CAGR Over 7 Years
India's exports under HSN Chapter 71 have declined at a compound annual rate of −1.80% over 7 fiscal years, falling from ₹2,82,793.66 Crore in FY 2018-19 to ₹2,53,600.88 Crore in FY 2024-25.
71 HSN Code: Natural Pearls & Metals
HSN Chapter 71 represents Natural Pearls & Metals under GST classification. This code helps businesses identify Natural Pearls & Metals correctly for billing, taxation, and trade purposes. With HSN Chapter 71, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Natural Pearls & Metals.
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Sub-chapters under HSN Chapter 71
Following Sub Chapters fall under Natural Pearls & Metals:
Sub Chapter
New GST Rate
Old GST Rate
Description
Sub Chapter
New GST Rate
18
%
Standard
Old GST Rate
18
%
Description
Pearls, natural or cultured, whether or not worked or graded but not strung, mounted or set; pearls, natural or cultured, temporarily strung for convenience of transport
Sub Chapter
New GST Rate
12
%
Standard
Old GST Rate
12
%
Description
Diamonds, whether or not worked, but not mounted or set
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Synthetic or reconstructed precious or semiprecious stones [other than diamonds], whether or not worked or graded but not strung, mounted or set; ungraded synthetic or reconstructed precious or semiprecious stones [other than diamonds], temporarily strung for convenience of transport; synthetic or reconstructed diamonds, unworked or simply sawn or roughly shaped"
Sub Chapter
New GST Rate
0
%
Exempted
Old GST Rate
0
%
Description
Synthetic or reconstructed precious or semiprecious stones, whether or not worked or graded but not strung, mounted or set; ungraded synthetic or reconstructed precious or semi-precious stones, temporarily strung for convenience of transport
Sub Chapter
New GST Rate
0
%
Exempted
Old GST Rate
0
%
Description
Dust and powder of natural or synthetic precious or semi-precious stones
Sub Chapter
New GST Rate
0
%
Exempted
Old GST Rate
0
%
Description
Silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Base metals clad with silver, not further worked than semi-manufactured
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Base metals or silver, clad with gold, not further worked than semi-manufactured
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Platinum, unwrought or in semi-manufactured form, or in powder form
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Base metals, silver or gold, clad with platinum, not further worked than semimanufactured
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Waste and scrap of precious metal or of metal clad with precious metal; other waste and scrap containing precious metal or precious metal compounds, of a kind used principally for the recovery of precious metal other than goods of heading 8549
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Other articles of precious metal or of metal clad with precious metal
Sub Chapter
New GST Rate
3
%
Essential
Old GST Rate
3
%
Description
Articles of natural or cultured pearls, precious or semi-precious stones(natural, synthetic or reconstructed)
India’s Trade Performance — HSN Chapter 71 in FY 2024-25
TradeStat EIDB — Ministry of Commerce & Industry
FY 2018-19–FY 2024-25
Values in ₹ Crore
India’s Exports
FY 2024-25₹2,53,601 Cr
−6.80%
vs FY 2023-24
6.8478% of India’s total exports
India’s Imports
FY 2024-25₹7,52,092 Cr
+15.70%
vs FY 2023-24
12.3331% of India’s total imports
Trade Balance
FY 2024-25−₹4,98,491 Cr
Trade Deficit
Surplus rank #96 of 97 chapters
At a glance
−1.80%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#4
National Export Rank
of 97 chapters by export value, FY 2024-25
+51.71%
Peak Growth Year
FY 2021-22 · strongest single-year move
0.9×
Export Growth · 7Y
₹2,82,793.66 Cr → ₹2,53,600.88 Cr
India Export-Import Trade Statistics for HSN Chapter 71
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
FY 2018-19
Exp. Rank #2
Balance
−1,68,711.42
Exports
2,82,793.66 ₹ Cr
12.2598% share
— YoY
Imports
4,51,505.08 ₹ Cr
12.5616% share
— YoY
FY 2019-20
Exp. Rank #2
Balance
−1,29,698.98
Exports
2,55,440.85 ₹ Cr
11.5144% share
−9.67% YoY
Imports
3,85,139.83 ₹ Cr
11.4601% share
−14.70% YoY
FY 2020-21
Exp. Rank #2
Balance
−2,13,068.73
Exports
1,92,969.39 ₹ Cr
8.9409% share
−24.46% YoY
Imports
4,06,038.12 ₹ Cr
13.9253% share
+5.43% YoY
FY 2021-22
Exp. Rank #2
Balance
−3,16,130.96
Exports
2,92,745.04 ₹ Cr
9.3038% share
+51.71% YoY
Imports
6,08,876.00 ₹ Cr
13.3155% share
+49.96% YoY
FY 2022-23
Exp. Rank #2
Balance
−2,86,767.03
Exports
3,05,758.20 ₹ Cr
8.4447% share
+4.45% YoY
Imports
5,92,525.23 ₹ Cr
10.3053% share
−2.69% YoY
FY 2023-24
Exp. Rank #3
Balance
−3,77,918.04
Exports
2,72,097.29 ₹ Cr
7.5203% share
−11.01% YoY
Imports
6,50,015.33 ₹ Cr
11.5744% share
+9.70% YoY
FY 2024-25
Exp. Rank #4
Balance
−4,98,490.73
Exports
2,53,600.88 ₹ Cr
6.8478% share
−6.80% YoY
Imports
7,52,091.61 ₹ Cr
12.3331% share
+15.70% YoY
CAGR · 7-Year
Exports
−1.80% /yr
Imports
8.88% /yr
Consistently Deficit
Peak export growth year
Latest available data
Not available
YoY = change vs previous FY
Key Trade Insights: HSN Chapter 71 Export-Import Analysis
HSN Chapter 71 Ranked #4 Among All 97 Chapters by Export Value
In FY 2024-25, HSN Chapter 71 ranks #4 out of 97 chapters by total export value. By trade surplus, it ranks #96 of 97.
FY 2021-22 Was the Strongest Growth Year for HSN Chapter 71 Exports
The strongest single-year export movement for HSN Chapter 71 was recorded in FY 2021-22, when exports surged by 51.71% over the prior year.
India Records a Trade Deficit of ₹4,98,490.73 Crore in HSN Chapter 71 Goods
In FY 2024-25, India's imports of ₹7,52,091.61 Cr exceeded exports of ₹2,53,600.88 Cr, resulting in a trade deficit of ₹4,98,490.73 Crore — ranking #96 of 97 by surplus magnitude.
Import Growth of 8.88% CAGR Signals Stable Import Dependency for Natural Pearls & Metals
India's imports under HSN Chapter 71 have grown at 8.88% CAGR, reaching ₹7,52,091.61 Crore in FY 2024-25.
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Important Disclaimer
The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.