Mumbai, March 15 India's exports of gems and jewelry increased by 3.86% year-on-year to USD 2,680.79 million (Rs 24,340.05 crore) in February, following the industry's diversification into other markets, according to the Gem and Jewelry Export Promotion Council (GJEPC).
Overall exports stood at USD 2,581.08 million (Rs 22,460.13 crore) during the corresponding month of 2025, GJEPC data showed.
From April 2025 to February 2026, total exports of gems and jewelry remained almost flat at USD 25,933.72 million (Rs 2,28,230.06 crores) compared to USD 25,915.81 million (Rs 2,18,737.62 crores) in the previous year.
"The past year has been challenging for the global gem and jewelry industry, shaped by evolving US tariff policies, geopolitical uncertainties, and changing consumer preferences across key markets. Despite these headwinds, the Indian gem and jewelry sector has demonstrated remarkable resilience," said GJEPC Chairman Kirit Bhansali.
Exporters have actively diversified their export markets, strengthening their presence in destinations such as the UAE and Australia, where free trade agreements have played a significant role, while markets like Hong Kong have continued to provide strong support, he added.
Recent developments in the US tariff framework have also provided some support to the studded jewelry segment; however, the industry awaits greater clarity regarding the final tariff treatment for natural diamonds and certain loose stone categories, which are currently subject to a 10% import duty under the prevailing US executive order, Bhansali said.
According to GJEPC data, exports of cut and polished diamonds slipped marginally by 0.84% to USD 1,351.17 million (Rs 12,268.05 crore) in February compared to USD 1,362.67 million (Rs 11,860.71 crore) a year ago.
Exports of polished lab-grown diamonds grew by 1.85% last month to USD 113.74 million (Rs 1,033.03 crore) from USD 111.68 million (Rs 972.04 crore).
The total exports of gold jewelry witnessed a 3.23% growth to USD 928.85 million (Rs 8,432.16 crore) last month compared to USD 899.82 million (Rs 7,828.05 crore) a year earlier.
Exports of silver jewelry surged by 123.77% in February to USD 116.37 million (Rs 1,056.30 crores) against USD 52.01 million (Rs 452.39 crores) in the previous month.
Talking about the geopolitical tension in the West Asia region, Bhansali said the industry remains watchful of evolving geopolitical developments and global trade conditions as we move into the final phase of the financial year.
"Exporters are closely monitoring the situation and working with trade partners to ensure continuity of shipments and supply chains," he added.