Despite a sharp contraction in shipments to the United States, India’s gems and jewellery exports show resilience, supported by strong growth in the UAE, Hong Kong and emerging global markets.

India’s gem and jewellery exports totalled $23.19 billion in April–January 2026, down 0.64% year-on-year, as US shipments fell 45%, while a new India–US trade framework restores 18% tariff access.

The EU-India FTA offers a significant boost to India’s gems and jewellery industry through reduced tariffs, easier market access, and improved competitiveness in Europe. The pact is expected to accelerate exports, attract investment, strengthen manufacturing, and reinforce India’s position as a trusted global sourcing hub for premium jewellery, says Suneeta Kaul.

Union Budget 2026-27 makes a strong push for MSMEs, with a Rs 10,000-crore SME Growth Fund; besides, it enables faster payments via mandatory TReDS for CPSE purchases. Overall, the Budget emphasizes fiscal prudence, infrastructure creation, and ease of doing business. For a sector navigating global uncertainty, shifting consumer preferences, and rising compliance standards, it is stability that the enabler.

Following the announcement of the India-EU Free Trade Agreement, GJEPC Chairman Kirit Bhansali outlined its expected impact on exports, employment and market diversification for India’s gem and jewellery sector.

In spite of an 8.76% dip in cut and polished diamond exports during April-November 2025, GJEPC remains optimistic about India’s export performance in 2026. The Council is looking forward to the BTA with the US, and should that take longer than expected, it will take all necessary measures in coordination with the government and stakeholders to support exports, and ensure continued growth, says Sabyasachi Ray, Executive Director, GJEPC, in a conversation with Suneeta Kaul.

India’s gem and jewellery exports to the US declined sharply in April–December 2025 amid tariff pressures, while growth in UAE, Hong Kong and FTA markets kept overall exports largely stable.

Buying activity softened as laboratory-grown diamonds and gold prices reshaped loose diamond trade dynamics at IIJS Bharat Signature 2026. Exhibitors observed slower conversions, but continued relevance, for natural diamonds, reports Khursheed Mistry.

Despite soaring gold prices, steep tariffs and rising crime, US jewellery sales continue to climb in 2025 — driven by resilient consumer demand, strong independents and a smaller but stronger retail base.

GJEPC Chairman Kirit Bhansali highlights steady April–October export performance, seasonal October softness, policy-driven competitiveness, and the real context behind gold import trends, outlining a confident growth trajectory for India’s gem and jewellery sector.

EBITDA margin improves sharply to 7.83% and PAT margin rises to 5.32% despite volatile gold pricing environment.

As gold prices soar to historic highs this festive season, Indian consumers are redefining the way they buy jewellery — opting to exchange and recycle old gold instead of making fresh purchases. The surge in exchange-driven sales has set new records across leading jewellery brands, signalling a major shift in festive buying behaviour amid skyrocketing prices.

India’s gem and jewellery exports record a steady recovery in the first half of FY2025–26, witnessing a growth of 3.66% to US$14.09 billion between April and September 2025 compared to US$13.60 billion in the same period last year

The gem and jewellery fraternity mourns the loss of Dr. Rajnikant R. Shah, a man whose life embodied integrity, vision, and service.