The ongoing US-Israel-Iran conflict is disrupting diamond trade flows, impacting key hubs, delaying shipments, and pressuring logistics; however, the industry is hopeful of things returning to normal once the geopolitical tensions ease, finds out Dhwani Rathod.

De Beers and Sotheby’s unveiled a 28.88-carat Type IIa diamond from Jwaneng, set for Hong Kong auction, underscoring rarity, provenance and sustained demand for high-value natural diamonds in Asia.

India’s gem and jewellery exports increased 3.86% year-on-year to $ 2,680.79 million in February 2026, according to GJEPC, supported by growth in silver and platinum jewellery shipments.

Escalating conflict in West Asia has disrupted India’s gem and jewellery trade, halting diamond shipments and logistics through Dubai and threatening exports and rough supply for the country’s $30-billion industry.

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.

The International Institute of Gemology organized a two-day industrial visit to Surat, covering diamond processing, technology integration and jewellery manufacturing to align academic training with industry practices.

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.

Following the India–US Interim Agreement framework announcement, GJEPC confirms duty reduction on jewellery to 18% and anticipates zero-duty access for diamonds and coloured gemstones in the US market.

The GJEPC has welcomed the India-U.S, trade agreement announcement, saying the move could ease tariff pressures and provide much-needed relief to India's gem and jewellery exporters/

Ahead of the 27 January 2026 India-EU Summit in New Delhi, GJEPC has urged the Government of India to secure duty-free EU access for jewellery to expand exports and double bilateral trade.

In order to meet the challenges of the diamond industry head on, De Beers has devised a multi-pronged strategy – the major steps include upping investment in marketing, participating in the Luanda Accord, developing a range of category campaigns, collaborating with key retail partners to grow demand, and investing in branded marketing programmes for its own retail businesses, says David Johnson, VP, Global External Communications, De Beers Group, in a conversation with Suneeta Kaul.

Ahead of the Union Budget 2026–27, leading jewellery retailers, manufacturers and industry bodies outline expectations on GST, import duties, exports, digital gold regulation, working capital, and policy reforms to strengthen growth.

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.