2 months ago
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The wide gross exports of gems and jewellery successful February 2026 grew 3.86% (8.37% successful rupee terms) Year connected Year (YoY) to $2.68 cardinal (₹24,340.05 crore), from $2.58 cardinal (₹22,460.13 crore), according to information provided by the Gem & Jewellery Export Promotion Council (GJEPC).
For the play April 2025 to February 2026, the wide gross exports of gems and jewellery marginally grew 0.07% (4.34% successful rupee terms) YoY to $25.93 cardinal (₹2,28,230.06 crore), compared to $25.92 cardinal (₹2,18,737.62 crore).
This comes arsenic a alleviation arsenic the assemblage could bash good contempt the dense tariff that was imposed by US president Donald Trump connected Indian exports.
Kirit Bhansali, Chairman, GJEPC, said “The past twelvemonth has been a challenging 1 for the planetary gem and jewellery industry, shaped by evolving U.S. tariff policies, geopolitical uncertainties, and changing user preferences crossed cardinal markets. Despite these headwinds, the Indian gem and jewellery assemblage has demonstrated singular resilience.”
“Exporters person actively diversified their export markets, strengthening their beingness successful destinations specified arsenic the UAE and Australia, wherever Free Trade Agreements person played a important role, portion markets similar Hong Kong person continued to supply beardown support,” helium said.
He said the Government of India’s proactive commercialized diplomacy done FTAs had been instrumental successful opening caller opportunities and helping the manufacture diversify its export base.
“This strategical displacement is reflected successful the sector’s wide show during the year,” helium said.
According to Mr Bhansali the caller developments successful the U.S. tariff model person besides provided immoderate enactment to the studded jewellery segment.
“As per the existent understanding, the effectual work connected jewellery exports from India is astir 15.5%, which is importantly little than earlier projected levels and helps support competitiveness successful this category. At the aforesaid time, the manufacture awaits greater clarity regarding the last tariff attraction for earthy diamonds and definite escaped chromatic categories, which are presently taxable to a 10% import work nether the prevailing U.S. enforcement order.” Mr Bhansali added.
Commenting connected the geopolitical hostility successful West Asia, Mr Bhansali, said, “The manufacture remains watchful of evolving geopolitical developments and planetary commercialized conditions arsenic we determination into the last signifier of the fiscal year. Exporters are intimately monitoring the concern and moving with commercialized partners to the concern and moving with commercialized partners to guarantee continuity of shipments and proviso chains.”
During April 2025-February 2026 portion exports to the US marketplace were severely impacted, UAE and Hong Kong emerged arsenic biggest markets. Overall gem and jewellery exports to the UAE roseate 22.19% to $8.41 billion, portion shipments to Hong Kong accrued 30.91% to $ 5.54 billion. Exports to the US were valued astatine $4.65 billion, down 44.28% YoY, arsenic per information provided by GJEPC.
