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India's Gem Exports Hit $27.72B in FY26, Diversify Beyond US Market

India's gem and jewellery exports reached $27.72 billion in FY26, demonstrating resilience amid global geopolitical and trade uncertainties. The industry is undergoing a structural shift, diversifying into new markets like the UAE and Australia as growth in the US market declined. Free Trade Agreements have been crucial, with exports to the UAE growing over 10% and to Australia by 38%. Cut and polished diamonds remained the largest export category, while gold jewellery exports held nearly steady.

Key Points: India Gem & Jewellery Exports Reach $27.72B in FY26

  • Exports stable at $27.72B
  • Diversification into UAE, Australia, Canada
  • FTAs pivotal for growth
  • Cut & polished diamonds lead category
  • Gold jewellery exports remain steady
2 min read

India's gem and jewellery exports reach $27.72 billion in FY26, remain stable

India's gem and jewellery exports reached $27.72 billion in FY26, showing resilience through market diversification and new FTAs despite global challenges.

"FY 2025-26 marks a phase of structural reset for the Indian gem and jewellery industry, where growth is becoming more broad-based - Kirit Bhansali, GJEPC"

New Delhi, April 15

India's gem and jewellery exports stood at $27.72 billion 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.

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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Reader Comments

S
Sarah B
As someone who follows trade, the stability is the real story here. With wars and tariff changes, holding steady at nearly $28 billion is an achievement. The focus on value-added segments like studded jewellery is key for future growth.
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Priya S
Good news! But I hope this growth translates to better wages and working conditions for the lakhs of karigars in Surat and other hubs. The industry's success must be shared with the artisans who are its backbone.
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Rahul R
The decline in dollar terms is a bit worrying, no? ₹ vs $ exchange rate must be playing a role. But FTAs with UK and EU coming up could be a game-changer. Our designs are world-class, we just need more market access.
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Aman W
Heartening to see the UAE market doing so well! The strong cultural and business ties are paying off. Hope the tensions in West Asia ease so that growth isn't impacted. Jai Hind!
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Nisha Z
While the numbers look stable, I respectfully think the industry needs to push branding. "India" as a brand for jewellery should be as strong as "Swiss" for watches. We need more global marketing for our craftsmanship.

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