India’s Gem & Jewellery Exports Hold at $19 Billion Despite US Tariffs: GJEPC

According to Gem and Jewelry Export Promotion Council (GJEPC), despite the US tariffs and a slump in demand from China, gem and jewelry exports from India remained stable in the year 2025 with the help of Free Trade Agreements (FTAs). Gem and jewelry exports are currently valued at $19 billion as of November last year. GJEPC Chairman Kirit Bhansali said that gem and jewelry exports are maintaining the level of $19 billion in new markets.

He noted that China has experienced an economic slowdown, but diversification has mitigated its impact. The free trade agreement has assisted in mitigating the slowdown experienced by countries such as West Asia, Europe, and Africa. Exports to countries such as the United Arab Emirates, New Zealand, Australia, the United Kingdom, and Oman are increasing rapidly; exports to the United Arab Emirates are up by close to 30 percent in the current year.

He explained that our exports to the US market have declined by more than 30 percent following the tariff hike. Bhansali said that 2026 may be difficult due to uncertainty between the US and China, but market diversification and policy support from the FTA will remain essential to the region's export strategy. It would not be wrong to say that the US is a significant market for us, and we do not want to lose it. Under the leadership of Prime Minister Narendra Modi, we hope that trade talks will progress soon.