India’s Gem & Jewellery Exports: The Gem & Jewellery Export Promotion Council (GJEPC) has announced that India’s gem and jewellery exports reached USD 27.72 billion (Rs 2,44,827.26 crore) for the fiscal year 2025–26. While reflecting a moderate decline of 3.32% in dollar terms, the figures reveal a significant structural reset, as the industry successfully reduces its reliance on a single market and moves toward a more resilient, broad-based growth model.
Despite geopolitical tensions in West Asia and evolving U.S. tariff regimes, the Indian export landscape is undergoing a deeper transformation fueled by value-added segments and strategic Free Trade Agreements (FTAs).
Key Export Highlights (FY 2025–26)
The fiscal year was defined by a surge in silver, platinum, and studded gold jewellery, offsetting the headwinds faced by the diamond sector.
- Silver Jewellery: Witnessed a massive 52.21% growth to reach USD 1.47 billion.
- Studded Gold Jewellery: Grew by 6.27% to USD 6.52 billion, signaling a consumer shift toward design-led, high-value products.
- Platinum Jewellery: Recorded an impressive 39.32% increase, totaling USD 254.60 million.
- Lab-Grown Diamond (LGD) Gold Jewellery: Surged by 31.30% to USD 1.42 billion, showcasing evolving demand patterns.
Reducing Single-Market Dependence
Mr. Kirit Bhansali, Chairman of GJEPC, noted that the industry is actively diversifying into new geographies to mitigate risks associated with the U.S. market, which saw a 44.92% decline due to tariff uncertainties.
“Growth is becoming more broad-based. While the U.S. faced challenges, markets like the UAE, Hong Kong, Australia, and Canada demonstrated robust growth. FTAs with the UAE and Australia have been pivotal in sustaining this momentum.”
Top Performing Export Destinations
- United Arab Emirates (UAE): USD 8,696.27 million — +10.52% growth
- Hong Kong: USD 5,972.24 million — +30.99% growth
- Australia: USD 360.21 million — +38.33% growth
- France: USD 356.12 million — +33.58% growth
- Canada: USD 319.57 million — +115.01% growth
Sector-Wise Performance Analysis
Diamonds and Lab-Grown Diamonds
- Cut & Polished Diamonds (CPD): Remained the largest category (43.9% of exports) at USD 12.16 billion, despite an 8.52% decline caused by U.S. inventory corrections and discretionary spending shifts.
- Polished Lab-Grown Diamonds: Experienced a price correction, with exports at USD 1.13 billion (-10.55%), even as volume demand remained steady.
Gold and Coloured Gemstones
- Total Gold Jewellery: Held stable at USD 11.36 billion.
- Plain Gold Jewellery: Declined by 7.42% to USD 4.84 billion, primarily due to record-high gold prices affecting price-sensitive buyers.
- Coloured Gemstones: Maintained a steady presence at USD 437.31 million.
Regional Leadership in India
India’s export hubs continue to drive the global supply chain:
- Western Region (Mumbai & Suburbs): Led the nation with USD 18.57 billion in exports.
- Gujarat Region: The global diamond processing heartland contributed USD 2.40 billion.
The Role of FTAs
The GJEPC anticipates that the upcoming implementation of FTAs with the UK and the EU will further bolster the industry. By expanding the “Made in India” footprint, the sector aims to build a more resilient ecosystem capable of navigating global economic shifts.
About GJEPC
Established in 1966 by the Ministry of Commerce, Government of India, the Gem & Jewellery Export Promotion Council (GJEPC) is the apex body representing over 10,900 members. Headquartered in Mumbai, it works to enhance India’s share in the global gem and jewellery market through promotional activities and member services.
FAQ’s
1. What are India’s total gem and jewellery exports in FY26?
India’s gem and jewellery exports stood at USD 27.72 billion in the financial year 2025–26, according to the GJEPC. This reflects the overall performance of the industry across various product categories and global markets.
2. Why did India’s gem and jewellery exports decline slightly this year?
Exports saw a 3.32% decline mainly due to global uncertainties, geopolitical tensions in some regions, and weaker demand in certain markets like the United States, along with tariff-related issues affecting trade flows.
3. Which jewellery segments showed strong growth in FY26?
Silver jewellery, platinum jewellery, studded gold jewellery, and lab-grown diamond jewellery all recorded strong growth. These segments benefited from rising global demand for value-added and design-focused products.
4. Which countries are the top destinations for India’s jewellery exports?
The leading export destinations include the United Arab Emirates, Hong Kong, Australia, France, and Canada. These markets showed strong growth and helped offset declines in the US market.
5. What does “structural reset” mean for India’s jewellery export industry?
A structural reset means the industry is shifting from dependence on a single major market to a more diversified global presence. This reduces risk, improves stability, and is supported by Free Trade Agreements and rising demand in multiple countries.
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