India’s Gem and Jewellery Exports Fall 5.79% to $2.24 Billion in January

India’s gem and jewellery exports declined in January as tariff pressures and weak demand in key markets, especially the US, weighed on shipments, even as diversification into other geographies helped cushion the broader trend, as per PTI report. 

January Export Performance and Segment Trends 

Total gem and jewellery exports stood at $2,238.54 million in January, down 5.79% from $2,376.02 million in the same month last year, according to industry data released by the GJEPC. 

For the April 2025–January 2026 period, exports were largely steady at $23,185.87 million, showing only a 0.64% decline compared with $23,334.73 million in the corresponding previous period, indicating relative stability despite global trade headwinds. 

Category-wise, cut and polished diamond exports fell 3.64% in January to $979.27 million. Polished lab-grown diamond exports slipped 2.81% to $83.45 million, while gold jewellery shipments saw a sharper 16.57% drop to $883.12 million year-on-year. 

Market Diversification and Industry Outlook 

Shipments to the United States, India’s largest export destination for gems and jewellery, contracted by over 45%, mainly due to higher tariffs and pricing disadvantages in that market. 

At the same time, exporters increased their presence in alternative markets. During April–January, exports to the UAE rose 23.71%, Hong Kong grew 33.5%, and Australia and France recorded growth of over 36% each. Belgium, Thailand and Israel also posted double-digit gains. 

Read More: Export Preparedness Index Highlights India’s $8–10 Trillion Export Ambition by 2047! 

Conclusion 

Despite a weak January, diversified market exposure and easing tariff structures are expected to support recovery momentum for India’s gem and jewellery exporters. 

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