India’s Gem and Jewellery Exports Hit $27.72 Billion in FY26, Show Stability Amid Challenges
Synopsis
India's gem and jewellery exports have reached $27.72 billion in FY26, reflecting a mix of growth and challenges. Despite geopolitical tensions and tariff issues, the sector showcases resilience and diversification into new markets. Discover how free trade agreements are shaping this industry!
Key Takeaways
Exports reached $27.72 billion in FY26.
Growth of 0.93 percent in rupee terms compared to FY25.
Strong performance despite geopolitical uncertainties and tariff issues.
Significant growth in UAE, Australia, and other markets.
Cut and polished diamonds make up 43.9 percent of total exports.
New Delhi, April 15 (NationPress) India's gem and jewellery exports reached $27.72 billion (approximately Rs 2,44,827.26 crore) for FY26, marking a slight increase of 0.93 percent in rupee terms compared to Rs 2,42,559.39 crore from the previous fiscal year (FY25).
In terms of dollars, the export figure reflects a modest decrease of 3.32 percent year-over-year.
This performance occurs against a backdrop of geopolitical uncertainties, changing U.S. tariff policies, and rising tensions in West Asia, highlighting a significant evolution in India's gem and jewellery export sector, as stated by the Gem and Jewellery Export Promotion Council (GJEPC).
Kirit Bhansali, Chairman of GJEPC, remarked: "FY 2025–26 signifies a structural transformation for the Indian gem and jewellery industry, characterized by a more diversified growth strategy that is less reliant on a single market. Exporters have proactively expanded into new regions, enhanced their value-added offerings, and quickly adapted to the changing dynamics of global trade."
While exports to the U.S. experienced a downturn due to tariff-related issues, markets such as the UAE, Hong Kong, Australia, and Canada have shown robust growth.
"The Free Trade Agreements with the UAE and Australia have been crucial in facilitating export diversification and maintaining growth momentum. Although exports to the UAE grew by over 22 percent during April–February 2026, the emerging tensions in the region tempered the overall growth to 10.52 percent for the full fiscal year, totaling $8.70 billion,” added Bhansali.
Meanwhile, Australia’s market has recorded a remarkable growth rate of 38.33 percent, underscoring the importance of FTA-driven market expansion in fostering a more resilient and diversified export ecosystem.
The anticipated implementation of FTAs with the UK and EU later this year is expected to bolster the growth of India's gem and jewellery exports further.
Within the gem and jewellery sector, cut and polished diamonds continue to dominate, constituting 43.9 percent of total exports in FY26.
Exports of gold jewellery, encompassing both plain and studded segments, remained stable at $11.36 billion, reflecting a minimal decline of 0.03 percent year-over-year.
Point of View
The current state of India’s gem and jewellery exports reflects both resilience and adaptability in the face of global challenges. The sector's ability to diversify and innovate amidst geopolitical uncertainties indicates a strong foundational shift, paving the way for sustainable growth.
NationPress
1 May 2026
Frequently Asked Questions
What was the value of India's gem and jewellery exports in FY26?
India's gem and jewellery exports reached $27.72 billion in FY26.
How much did the exports grow in rupee terms?
The exports registered a marginal growth of 0.93 percent in rupee terms.
Which markets showed significant growth?
Markets such as the UAE, Hong Kong, Australia, and Canada exhibited strong growth.
What role did Free Trade Agreements play?
FTAs with the UAE and Australia were crucial in supporting export diversification and sustaining growth.
What was the contribution of cut and polished diamonds to total exports?
Cut and polished diamonds constituted 43.9 percent of total exports in FY26.
