The Gem & Jewellery Export Promotion Council of India (GJEPC) has announced that industry’s shipments to the United States have declined 44.4% year on year in April-December of 2025.
In value terms, exports to US were down to $3.86 billion, compared to $6.95 billion compared to the same period of the previous year. In December alone, they fell 50.4%, reflecting the continued impact of tariff-related pressures and subdued discretionary demand.
"The United States remains India’s largest export destination, accounting for nearly 30% of our gem and jewellery exports. The sharp decline in shipments is a matter of serious concern. Prolonged uncertainty around tariffs could adversely impact the long-term viability of the US market for Indian jewellery exporters," said GJEPC chairman Kirit Bhansali.
Despite the sharp contraction in the US market, India’s overall gem and jewellery exports remained stable during the reporting period, the trade body reported. Provisional exports for the nine-month period amounted to $20.75 billion, reflecting a marginal dip of 0.41% year-on-year, supported by currency exchange rates and steady trade flows.
A key stabilising factor has been the industry’s ability to leverage free trade agreements and deepen its presence in alternative markets, GJEPC noted. Exporters are steadily expanding their footprint across West Asia, Asia-Pacific, Australia, Latin America and other emerging regions, building a more balanced and future-ready export base.
Polished diamond and gold jewellery continue to dominate India’s exports in the sector. In April-December of 2025, polished diamond exports were down 7.9% year on year to $8.99 billion, while gold jewellery exports, including plain and studded jewellery, grew 7.28% to $8.67 billion.
Theodor Lisovoy, Managing Editor, Rough&Polished
