Ahmedabad: India’s gem and jewellery exports stood at $27 billion (around ₹2.4 lakh crore) in FY 2025–26, registering a 3.3% decline due to global economic pressures and uncertainty over tariffs, according to the Gem and Jewellery Export Promotion Council (GJEPC).

The performance comes against the backdrop of geopolitical tensions, changing US tariff policies, and emerging instability in West Asia. Despite the dip, it highlights a broader transformation within India’s gem and jewellery export sector. GJEPC Chairman Kirit Bhansali said the year reflects a “structural reset,” with the industry reducing dependence on a single market and expanding into new geographies. Exporters are also focusing more on value-added products and adapting to evolving global trade trends.

Cut and polished diamonds, which make up 43.9% of total exports, declined by 8.5% year-on-year to $12.2 billion. Meanwhile, overall gold jewellery exports remained largely stable at $11.4 billion. Within this category, plain gold jewellery fell 7.4% due to high prices, while studded gold jewellery grew by 6.3%, indicating a shift towards more design-oriented, higher-value products.

Silver jewellery exports recorded a sharp increase of 52.2% to $1.5 billion, driven by affordability and rising global demand. Platinum jewellery exports also rose significantly by 39.3% to $254.6 million, reflecting growing traction in the premium segment.

However, polished lab-grown diamond exports dropped 10.6% to $1.1 billion due to price corrections. In contrast, studded jewellery using lab-grown diamonds saw a strong growth of 31.3%, pointing to changing consumer preferences and increased demand for affordable jewellery options. DeshGujarat