India’s Gems, Jewellery Exports up 3.86% at $2,680.79 Mn in Feb: GJEPC

India's gems and jewellery exports grew 3.86 per cent year-on-year to USD 2,680.79 million (Rs 24,340.05 crore) in February, following the industry's diversification into other markets, according to the Gem and Jewellery Export Promotion Council (GJEPC).

The overall exports stood at USD 2,581.08 million (Rs 22,460.13 crore) during the corresponding month of 2025, GJEPC data showed.

From April 2025 to February 2026, total gems and jewellery exports were almost flat at USD 25,933.72 million (Rs 2,28,230.06 crores) compared to USD 25,915.81 million (Rs 2,18,737.62 crores) in the year-ago period.

"The past year has been challenging for the global gem and jewellery industry, shaped by evolving US tariff policies, geopolitical uncertainties, and changing consumer preferences across key markets. Despite these headwinds, the Indian gem and jewellery sector has demonstrated remarkable resilience," GJEPC Chairman Kirit Bhansali said.

Exporters have actively diversified their export markets, strengthening their presence in destinations such as the UAE and Australia, where free trade agreements have played a significant role, while markets like Hong Kong have continued to provide strong support, he added.

Recent developments in the US tariff framework have also provided some support to the studded jewellery segment; however, the industry awaits greater clarity regarding the final tariff treatment for natural diamonds and certain loose stone categories, which are currently subject to a 10 per cent import duty under the prevailing US executive order, Bhansali said.

According to GJEPC data, exports of cut and polished diamonds slipped marginally by 0.84 per cent to USD 1,351.17 million (Rs 12,268.05 crore) in February compared to USD 1,362.67 million (Rs 11,860.71 crore) a year ago.

Exports of polished lab-grown diamonds grew 1.85 per cent last month to USD 113.74 million (Rs 1,033.03 crore) from USD 111.68 million (Rs 972.04 crore).

The total exports of gold jewellery witnessed a 3.23 per cent growth to USD 928.85 million (Rs 8,432.16 crore) last month compared to USD 899.82 million (Rs 7,828.05 crore) a year earlier.

Silver jewellery exports surged by 123.77 per cent in February to USD 116.37 million (Rs 1,056.30 crores) against USD 52.01 million (Rs 452.39 crores) in the year-ago month.

Talking about the geopolitical tension in the West Asia region, Bhansali said the industry remains watchful of evolving geopolitical developments and global trade conditions as we move into the final phase of the financial year.

"Exporters are closely monitoring the situation and working with trade partners to ensure continuity of shipments and supply chains," he added.