New Delhi, April 15 (IANS) India’s gem and jewellery exports stood at $27.72 billion (about Rs 2,44,827.26 crore) in FY26, registering a marginal growth of 0.93 per cent in rupee terms, compared to Rs 2,42,559.39 crore in the previous financial year (FY25).

In dollar terms, exports were recorded at $27.72 billion, reflecting a moderate decline of 3.32 per cent year-on-year.

The performance comes amid a year marked by geopolitical uncertainties, evolving U.S. tariff regimes, and emerging tensions in West Asia, yet underscores a deeper transformation underway in India’s gem and jewellery export landscape, said the Gem and Jewellery Export Promotion Council (GJEPC) in a statement.

“FY 2025–26 marks a phase of structural reset for the Indian gem and jewellery industry, where growth is becoming more broad-based and less dependent on a single market. Exporters have actively diversified into new geographies, strengthened value-added segments, and adapted swiftly to evolving global trade dynamics,” said Kirit Bhansali, Chairman, GJEPC.

Even as the US market saw a decline due to tariff-related uncertainties, markets such as the UAE, Hong Kong, Australia, and Canada have demonstrated strong growth.

“Free Trade Agreements with the UAE and Australia have played a pivotal role in supporting export diversification and sustaining growth momentum. While exports to the UAE witnessed strong growth of over 22 per cent during April–February 2026, the emerging tensions in the region moderated the overall growth to 10.52 per cent for the full financial year, with exports reaching $8.70 billion,” said Bhansali.

At the same time, markets like Australia have shown robust growth of 38.33 per cent, reinforcing the importance of FTA-led market expansion in building a more resilient and broad-based export ecosystem.

The anticipated implementation of FTAs with the UK and EU this year is expected to further support the growth of India’s gem and jewellery exports.

Cut and polished diamonds remained the largest product category within the overall gem and jewellery basket, contributing 43.9 per cent of total exports in FY26.

Gold jewellery exports, including both plain and studded segments, remained largely stable at $11.36 billion, registering a marginal decline of 0.03 per cent year-on-year.

–IANS

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