India’s gems and jewellery exports registered a decline in April 2026 due to geopolitical tensions, weak international demand, and uncertainty in major global markets. The slowdown reflects the sector’s sensitivity to global economic conditions, changing consumer preferences, and fluctuations in luxury spending.
Major Highlights
- India’s total gems and jewellery exports in April 2026 were valued at nearly 2,226.45 million US dollars compared to 2,448.53 million US dollars during the same period in 2025.
- According to the Gem and Jewellery Export Promotion Council, exports declined by 9.07 percent in dollar terms and by 0.61 percent in rupee terms on a year-on-year basis.
- Exports of cut and polished diamonds recorded a major decline of 19.65 percent, falling to nearly 890.91 million US dollars.
- Kirit Bhansali attributed the decline to ongoing geopolitical tensions in West Asia and uncertainty regarding tariff and trade policies in the United States.
- Overall gold jewellery exports decreased by 21.77 percent to approximately 841.54 million US dollars, mainly because of a sharp decline in exports of plain gold jewellery.
- Exports of plain gold jewellery fell by more than 47 percent, indicating weak global demand for traditional luxury products.
- In contrast, studded gold jewellery exports increased by 16.02 percent to nearly 500.46 million US dollars, reflecting stronger demand for premium and value-added jewellery products.
- Silver jewellery exports witnessed an exceptional rise of nearly 444 percent, reaching 268.38 million US dollars compared to 49.33 million US dollars in April 2025.
- Exports of polished lab-grown diamonds declined by 15.53 percent to approximately 93.28 million US dollars due to global pricing pressure and fluctuations in consumer demand.
- Gross imports of gems and jewellery products fell by 9.54 percent to nearly 1,840 million US dollars, indicating subdued manufacturing activity and cautious inventory management.
- Imports of rough diamonds declined sharply by 29.36 percent to around 847.67 million US dollars as Indian diamond processors reduced purchases amid global market uncertainty.
Important Terms
- GJEPC: Gem and Jewellery Export Promotion Council, the apex body responsible for promoting India’s gems and jewellery exports.
- Lab-Grown Diamonds: Artificially manufactured diamonds produced using advanced technological processes that replicate natural diamond formation.
- Value-Added Exports: Export products that undergo additional processing, design enhancement, branding, or technological improvement to increase their market value.
