India’s gem and jewellery exports for FY2025–26 stood at Rs 2,44,827.26 crore, registering a marginal growth of 0.93% in rupee terms compared to the previous financial year. In dollar terms, exports declined 3.32% year-on-year to $27.72 billion.

The performance comes amid geopolitical uncertainties, evolving US tariff regimes and tensions in West Asia, indicating a shift in export dynamics and market strategy.

Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “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 added that exporters diversified into new geographies while strengthening value-added segments. Markets such as the UAE, Hong Kong, Australia and Canada recorded growth, while exports to the US declined due to tariff-related uncertainties.

Exports to the UAE grew 10.52% to $8.70 billion, supported by the India-UAE FTA, while Australia recorded 38.33% growth. Canada saw a 115.01% rise, reflecting increased diversification.

Product-wise, cut and polished diamonds remained the largest segment, contributing 43.9% of total exports at $12.16 billion, though declining 8.52% year-on-year. The drop was attributed to US tariff impacts, inventory corrections and subdued demand.

Total gold jewellery exports remained stable at $11.36 billion. Within this, plain gold jewellery declined 7.42%, impacted by high gold prices, while studded gold jewellery grew 6.27% to $6.52 billion, reflecting demand for value-added products.

Silver jewellery exports surged 52.21% to $1.47 billion, driven by global demand and affordability. Platinum jewellery exports increased 39.32% to $254.60 million, indicating growth in niche segments.

Polished lab-grown diamond exports declined 10.55% to $1.13 billion amid price corrections, while jewellery studded with lab-grown diamonds grew 31.30% to $1.43 billion.

Regionally, the Western region led exports at $18.58 billion, followed by Gujarat at $2.40 billion, highlighting continued concentration in key manufacturing hubs.