India’s gems and jewelery exports jumped 3.86% in February, reaching Rs 24,340 crore! 123% increase in silver jewelery

Mumbai: India’s gems and jewelery exports increased by 3.86 per cent year-on-year to $268.07 million (Rs 24,340.05 crore) in February. According to industry organization Gems and Jewelery Export Promotion Council (GJEPC), this increase in exports was recorded due to expansion in other markets.

According to the council’s data, total exports in the same month a year ago stood at $ 258.10 million (Rs 22,460.13 crore). Total gems and jewelery exports during April, 2025 to February, 2026 remained almost stable at $ 2,593.37 crore (Rs 2,28,230.06 crore), compared to $ 2,591.58 crore (Rs 2,18,737.62 crore) in the same period a year earlier. Kirit Bhansali, Chairman of Gems and Jewelery Export Promotion Council, said that the past year has been challenging for the global gems and jewelery industry. During this period, factors like changes in US tariff policies, geopolitical uncertainty and changing consumer preferences in major markets had an impact.

He said that despite these challenges, India’s gems and jewelery sector has shown remarkable strength. Bhansali said exporters have actively expanded into new markets and strengthened their presence in countries like the UAE and Australia, where free trade agreements have played an important role. At the same time, there has been continuous strong support from markets like Hong Kong. He said recent changes in the US tariff regime have provided some support to the studded jewelery segment.

However, the industry is awaiting more clarity on the final duty regime on natural diamonds and certain stone categories. Under the current US order, 10 percent import duty has been imposed on them. According to the council data, exports of cut and polished diamonds declined marginally 0.84 per cent to $1351.2 million (Rs 12,268.05 crore) in February from $1362.7 million (Rs 11,860.71 crore) in the same month a year ago. Exports of lab-grown polished diamonds rose 1.85 percent to $113.7 million (Rs 1,033.03 crore) last month from $111.7 million (Rs 972.04 crore) a year ago.

Total exports of gold jewelery increased by 3.23 per cent to $928.9 million (Rs 8,432.16 crore) last month, compared to $899.8 million (Rs 7,828.05 crore) in the same period a year ago. Exports of silver jewelery increased by 123.77 percent to $ 116.4 million (Rs 1,056.30 crore) in February, from $ 52 million (Rs 452.39 crore) in the same month a year ago. Regarding the ongoing geopolitical tensions in the West Asia region, Bhansali said the industry is keeping an eye on global trade conditions and changing geopolitical developments as we enter the final phase of the financial year. He said exporters are closely monitoring the situation and working closely with trading partners to ensure smooth supply of goods and supply chains.