Gem & Jewellery Exports Rise Despite Tariff Challenges
India’s gem and jewellery exports grew by about 4% in February 2026, reaching $2.68 billion, compared to $2.58 billion last year. In rupee terms, growth was stronger at over 8%.
For the period April 2025 to February 2026, exports remained almost flat at $25.93 billion, showing a slight increase of 0.07% (4.34% in rupees).
This growth comes despite challenges like U.S. tariffs, global uncertainties, and changing consumer demand. According to the Gem & Jewellery Export Promotion Council (GJEPC), the industry has shown strong resilience.
Exporters have reduced dependence on the U.S. and expanded into other markets like the UAE and Australia, supported by Free Trade Agreements. Hong Kong also remained a strong market.
Government trade agreements have helped open new opportunities and support export diversification.
Current U.S. import duty on Indian jewellery is around 15.5%, which is lower than earlier expected and helps maintain competitiveness. However, clarity is still needed on duties for natural diamonds and loose stones.
Despite geopolitical tensions in West Asia, exporters are closely monitoring the situation to ensure smooth supply chains.
During April 2025–February 2026:
Exports to the UAE rose 22% to $8.41 billion
Exports to Hong Kong increased 31% to $5.54 billion
Exports to the U.S. fell sharply by 44% to $4.65 billion
Overall, the sector is adapting well by exploring new markets and managing global challenges.
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