India's Gem, Jewellery Exports FY26
Analysis based on 7 articles · First reported Apr 15, 2026 · Last updated Apr 15, 2026
The Indian gem and jewellery market shows resilience and strategic diversification, which is positive for the industry. While diamond exports faced headwinds from United States tariffs, growth in other segments and new markets like the United Arab Emirates and Australia indicate a robust adaptation to global uncertainties.
India's gem and jewellery exports reached $27.72 billion in FY26, showing a marginal growth of 0.93% in rupee terms but a 3.32% decline in dollar terms. This performance, reported by the Gem & Jewellery Export Promotion Council (GJEPC), reflects a structural reset in the industry, with exporters diversifying into new geographies and strengthening value-added segments. The United States market saw a decline due to tariff uncertainties, while markets such as the United Arab Emirates, China — Hong Kong, Australia, and Canada demonstrated strong growth. Free Trade Agreements with the United Arab Emirates and Australia played a pivotal role in this diversification. Cut and polished diamonds remained the largest export category but faced pressure, while gold jewellery exports remained stable. Silver and platinum jewellery emerged as strong growth drivers. Anticipated FTAs with the United Kingdom and European Union are expected to further support export growth.
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