India’s gem and jewellery exports for FY2025–26 totalled Rs 2,44,827.26 crore, registering a marginal increase of 0.93% in rupee terms over the previous financial year. In dollar terms, exports declined by 3.32% year-on-year to $27.72 billion.
The overall performance reflects ongoing global challenges, including geopolitical uncertainties, evolving US tariff regimes, and tensions in West Asia, alongside a shift in India’s export strategy.
Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), stated, “FY2025–26 marks a phase of structural reset for the Indian gem and jewellery industry, where growth is becoming more broad-based and less dependent on a single market.”
He noted that exporters have diversified into new markets and strengthened value-added segments. While exports to the US declined significantly, markets such as the UAE, Hong Kong, Australia and Canada recorded growth.
Exports to the UAE increased by 10.52% to $8.70 billion, supported by the India-UAE Free Trade Agreement, while Australia recorded growth of 38.33%. Canada saw a rise of 115.01%, indicating expanding market reach.
Among product categories, cut and polished diamonds remained the largest segment, accounting for 43.9% of total exports at $12.16 billion, though declining 8.52% year-on-year due to tariff impacts, inventory corrections and subdued demand.
Gold jewellery exports remained stable at $11.36 billion. Plain gold jewellery exports declined by 7.42% due to high gold prices, while studded gold jewellery exports grew 6.27% to $6.52 billion, reflecting sustained demand for value-added jewellery.
Silver jewellery exports increased by 52.21% to $1.47 billion, driven by global demand and affordability. Platinum jewellery exports rose 39.32% to $254.60 million, indicating traction in niche segments.
Polished lab-grown diamond exports declined by 10.55% to $1.13 billion, while gold jewellery studded with lab-grown diamonds grew 31.30% to $1.43 billion.
Regionally, the Western region continued to lead with exports of $18.58 billion, followed by Gujarat at $2.40 billion, reflecting the concentration of manufacturing and export activity.
