Home / Business and Economy / India's Gem Exports Dip 5.79% Amid Global Headwinds
India's Gem Exports Dip 5.79% Amid Global Headwinds
13 Feb
Summary
- January exports fell 5.79% to $2,238.54 million due to global pressures.
- US market exports plummeted over 45% due to tariffs and pricing issues.
- Exports to UAE, Hong Kong, Australia, and France showed strong growth.
India's gem and jewellery exports saw a 5.79% decrease in January, totaling USD 2,238.54 million. This decline is attributed to global trade challenges and tariff issues in major markets. Exports to the United States, India's primary export destination, fell sharply by over 45% due to increased tariffs and unfavorable pricing.
Despite this setback, the sector has effectively diversified its export base. During April 2025-January 2026, exports to the United Arab Emirates grew by 23.71%, Hong Kong by 33.5%, and Australia and France each by over 36%. Other markets like Belgium, Thailand, and Israel also experienced double-digit growth, highlighting the industry's adaptability.
The overall exports for April 2025-January 2026 remained largely stable, with a marginal decline of 0.64% to USD 23,185.87 million. Industry leaders expressed optimism, noting the positive impact of the India-US trade deal framework, which includes revised tariffs. This is expected to help regain market share in the US.
Positive domestic reforms, including budget provisions for ease of doing business and customs modernization, further support the sector's long-term vision of achieving USD 100 billion in exports by 2047. While polished diamond and gold jewellery exports declined in January, silver jewellery exports surged by over 107%.
