3 months ago
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MUMBAI
India’s gem and jewellery exports broadly remained unchangeable during April 2025–January 2026, amid planetary commercialized headwinds and tariff-related pressures successful cardinal markets. As per information released by the Gem & Jewellery Export Promotion Council ( GJEPC), the wide gross exports during the play stood astatine $23.19 cardinal (₹2,03,280.72 crore), registering a diminution of 0.64% successful dollar terms, portion increasing by 3.57% successful rupee terms, compared with exports of $23.33 cardinal (₹1,96,277.49 crore) during the aforesaid play successful the erstwhile year.
The export result was importantly influenced by a crisp contraction successful shipments to the United States, India’s largest gem and jewellery export destination, wherever exports declined by implicit 45% due to elevated tariffs of 50% and pricing disadvantages, GJEPC said. However, the precocious announced India–U.S. commercialized deal, which restores tariff entree for gems and jewellery astatine 18%, is expected to beryllium a large inflection point, it said.
The tariff rollback is projected to assistance India’s gem and jewellery exports by up to $3 cardinal successful the adjacent term, driven by renewed terms competitiveness and commercialized re-creation, it added.
Recently, India had diversified its export markets, signaling beardown maturation crossed respective cardinal destinations. During April 2025–January 2026, exports to the United Arab Emirates grew 23.71%, Hong Kong roseate 33.5%, portion outbound shipments to Australia and France posted a robust maturation of implicit 36% each. Exports to different markets specified arsenic Belgium, Thailand and Israel besides recorded double-digit growth, the commercialized assemblage said.
Kirit Bhansali, Chairman, GJEPC said, “The announcement of the model for India–U.S. trade woody has brought the much-needed relief. The revised 18% tariff connected jewellery and zero work connected diamonds and coloured gemstones volition spot India successful a structurally superior presumption implicit cardinal competitors — crossed diamonds, coloured gemstones and studded golden jewellery.”
“This vantage is expected to assistance Indian exporters regain mislaid crushed successful the U.S. marketplace and re-create trade. Supported by marketplace diversification and a beardown pipeline of commercialized agreements, the manufacture is good positioned for betterment and sustained maturation successful FY2026-27,” helium added.
As per information released by GJEPC, cut and polished diamond exports during April–January 2026 stood astatine US$ 9.97 billion, registering a 7.46% year-on-year decline.
Total golden jewellery exports, including plain and studded jewellery, grew 5.53% year-on-year to US$ 9.71 cardinal during the period. Within this, plain golden jewellery exports roseate marginally by 1.57%, portion studded golden jewellery exports recorded a stronger maturation of 8.69%, supported by higher value-added demand.
Silver jewellery exports roseate sharply by 51.21% to $1.28 billion, driven by robust planetary request and higher metallic prices. Platinum jewellery exports grew 49.09% to $215.15 million, aided by increasing acceptance successful niche and premium markets, on with terms appreciation. Polished lab-grown diamond exports declined 9.73% year-on-year successful worth to $923.62 million, adjacent arsenic export volumes accrued significantly, indicating terms softness.
Coloured gemstone exports stood astatine $342.34 million, marginally little by 3.38% year-on-year, reflecting unchangeable but subdued demand.
