India’s Gems, Jewellery Exports Rise 3.86% in February; West Asia Tensions May Hit Trade

India’s Gems and Jewellery Exports rose 3.86% year-on-year to $2,680.79 million (₹24,340.05 crore) in February, according to data released by the Gem and Jewellery Export Promotion Council (GJEPC). 

Exports during the same month last year stood at $2,581.08 million (₹22,460.13 crore). The increase comes amid efforts by exporters to expand into alternative markets while navigating changes in global trade patterns and demand conditions. 

Limited Growth During the Financial Year 

Despite the rise in February, overall exports during the current financial year have remained largely unchanged. 

As per PTI reports, between April 2025 and February 2026, India’s gems and jewellery exports totalled $25,933.72 million (₹2,28,230.06 crore). This compares with $25,915.81 million (₹2,18,737.62 crore) recorded during the same period a year earlier. 

Industry officials said global trade conditions, including tariff changes in the United States and geopolitical uncertainties, have affected demand across several key markets. 

Mixed Performance Across Product Segments 

Export trends varied across different product categories during February. 

Shipments of cut and polished diamonds declined slightly by 0.84% to $1,351.17 million (₹12,268.05 crore), compared with $1,362.67 million (₹11,860.71 crore) in February last year. 

Exports of polished lab-grown diamonds increased 1.85% to $113.74 million (₹1,033.03 crore), while gold jewellery exports rose 3.23% to $928.85 million (₹8,432.16 crore). 

Meanwhile, silver jewellery exports recorded a sharp increase of 123.77%, reaching $116.37 million (₹1,056.30 crore) compared with $52.01 million (₹452.39 crore) in the same month last year. 

Market Diversification and Trade Agreements 

Exporters have expanded their presence in markets such as the United Arab Emirates and Australia, supported by trade agreements. 

Traditional hubs including Hong Kong  play an important role in the sector’s export network. Industry representatives also noted that recent adjustments in the US tariff framework have provided some support to the studded jewellery segment, although uncertainty remains over duties on natural diamonds and certain loose stones. 

West Asia Conflict Raises Concerns 

The ongoing conflict in West Asia has begun affecting shipments from India. 

According to GJEPC Executive Director Sabyasachi Ray, exports to the region have already declined by around 20% in the current month. If disruptions continue, exports worth about $1.2 billion could be affected over the next 3 months. 

The UAE and Gulf Cooperation Council countries together account for roughly $8.3 billion of India’s gems and jewellery exports, with Dubai functioning as a key trading hub. 

Read More: Indian Automotive Market to Hit 4.7 Million Sales in FY26 Despite Challenges! 

Conclusion 

February exports showed modest growth, although overall shipments during the financial year have remained stable. Developments in global trade policies and geopolitical conditions, particularly in West Asia, are likely to influence export trends in the coming months. 

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