Gem and jewellery exports decline by 5.79% to $2,238.54 million in January, says GJEPC

Mumbai: India’s gem and jewellery exports witnessed a 5.79 per cent on-year decline in January to $2,238.54 million amid global trade headwinds and tariff-related pressures in key markets, the Gem and Jewellery Export Promotion Council (GJEPC) said on Friday.

The overall exports stood at $2,376.02 million in January 2025, for the same period of the previous year, GJEPC said in a statement.

However, overall exports remained steady during the April 2025-January 2026 period with a marginal decline of 0.64 per cent at $23,185.87 million, as compared to $23,334.73 million for the same period of the previous year.

The export outcome was significantly influenced by a sharp contraction in shipments to the US, India’s largest gem and jewellery export destination, where exports declined by over 45 per cent due to elevated tariffs and pricing disadvantages.

Meanwhile, India has successfully diversified its export markets, and during April 2025 - January 2026, exports to the United Arab Emirates grew 23.71 per cent, Hong Kong rose 33.5 per cent, while Australia and France posted robust growth of over 36 per cent each.

Other markets such as Belgium, Thailand and Israel also recorded double-digit growth, demonstrating India’s growing global footprint and the industry’s ability to adapt to shifting trade dynamics.

“India’s gem and jewellery exports have remained broadly stable during April-January at $23.19 billion, despite global headwinds, with a marginal decline in dollar terms and positive growth in rupee terms, underscoring the sector’s resilience,” GJEPC chairman Kirit Bhansali said.

Meanwhile, the overall exports of Cut and Polished diamonds declined by 3.64 per cent in January at $979.27 million compared to $1,016.3 million for the same period of the previous year.

Total exports of Polished Lab Grown Diamonds in January dipped by 2.81 per cent at $83.45 million as against $85.86 million in the same month of the previous year.

Export of Gold Jewellery dipped by 16.57 per cent in January at $883.12 million compared to $1,058.51 million for the same period of the previous year. However, silver jewellery exports surged by 107.04 per cent in January to $152.42 million compared to $73.62 million in the corresponding month of the previous year.