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Gems, jewelery exports almost stable despite 44% decline in exports to US Business News & more related News Here

India’s gems and jewelery exports during April-December 2025 remained almost stable compared to the previous year, but exports to the United States during the same period declined by 44% from $6.95 billion in April-December 2024 to $3.86 billion in the nine months of 2025, the Gem and Jewelery Export Promotion Council (GJEPC) said on Friday.

Exports to the US declined 50.44% year on year in December 2025, reflecting tariff-related pressure and lower discretionary demand (PIXABAY)
Exports to the US declined 50.44% year on year in December 2025, reflecting tariff-related pressure and lower discretionary demand (PIXABAY)

Provisional exports for the nine-month period to 2025 stood at $20.75 billion, a marginal decline of 0.41% year-on-year, while registering a growth of 3.69% in rupee terms.

Exports to the US declined by 50.44% year-on-year in December 2025, reflecting tariff-related pressure and lower discretionary demand. According to the council, the United States is India’s largest export market for gems and jewellery, accounting for about 30% of total exports.

GJEPC Chairperson Kirit Bhansali said in a statement that the sharp decline in shipments is a matter of serious concern. “Prolonged uncertainty over tariffs could adversely impact the long-term viability of the US market for Indian jewelery exporters. We have full confidence in the Government of India and are hopeful that the ongoing bilateral trade discussions will yield positive and timely solutions,” he said.

Surat, which processes eight out of every ten diamonds sold globally, has been facing continuing challenges in recent years. Global disruptions, including supply chain disruptions, declining demand and United States sanctions on polished diamonds made from Russian rough stones, which account for about 33% of Surat’s supply, have led to factory slowdowns and job losses.

According to GJEPC, the softening in diamonds was offset by growth in jewelery exports, cut and polished diamonds from gold, silver and platinum jewelery and lower exports of laboratory grown diamonds.

Exports to alternative markets supported overall trade. Exports to the UAE increased 28% year-on-year to $6.89 billion, exports to Hong Kong increased 28% to $4.25 billion and exports to Australia increased nearly 40% to $277.76 million.

Bhansali said the free trade agreement with UAE and Australia comes at an important time for the industry. “The recent FTAs ​​with the UK, Oman, New Zealand and others will further enhance competitiveness by reducing duties and reducing trade barriers. The Indian government is currently negotiating several trade agreements that we are confident will open up new markets and strengthen India’s position globally on quality, value and trust.”

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