Gems and Jewellery Export Decline

• Gems and Jewellery Exports:

  • In the fiscal year 2025/26, exports of gems and jewellery dropped by 3.3% year-over-year.
  • Total exports reached $27.72 billion, marking the lowest levels in five years and a decline from $28.7 billion in the previous year.
  • This decline correlates with a significant reduction in shipments to the U.S., the largest buyer, where exports nearly halved.

• Trade Impact:

  • The downturn in export numbers is attributed to the effects of tariffs and duties, influencing trade dynamics.

• Historical Context:

  • The last time similar low figures were recorded was in 2020/21, primarily due to trade disruptions caused by pandemic-related lockdowns.

• Trade Body:

  • Data sourced from the Gem and Jewellery Export Promotion Council (GJEPC), which is responsible for promoting and facilitating gem and jewellery exports from India.

These points are critical for understanding the current state of the Indian gems and jewellery export market, reflecting broader economic challenges and trade policy implications.