India’s gems and jewellery export sector showed modest growth in February, reflecting the industry’s resilience amid global economic uncertainty. Exports increased by 3.86 percent year-on-year, reaching USD 2,680.79 million, equivalent to approximately Rs 24,340.05 crore. The growth was driven largely by diversification into emerging international markets as exporters adapted to shifting global demand. Despite geopolitical tensions, evolving trade policies, and fluctuating consumer preferences in key economies, the sector managed to maintain stable performance during the current financial year. Industry leaders believe strategic market expansion and product innovation have helped sustain India’s position as a leading global hub for jewellery manufacturing and exports.

Export Performance Shows Positive Momentum

India’s gems and jewellery export sector registered steady growth in February, highlighting the industry’s ability to navigate complex global market conditions. According to industry data, exports rose to USD 2,680.79 million during the month, equivalent to around Rs 24,340.05 crore.

This represents a year-on-year increase of 3.86 percent compared with February of the previous year, when exports stood at USD 2,581.08 million, or approximately Rs 22,460.13 crore.

The improvement reflects a gradual recovery in international demand as exporters adapt to shifting market dynamics and explore new opportunities beyond traditional trading partners.

Diversification Strategy Supports Growth

One of the key factors behind the sector’s improved performance has been a strategic shift toward market diversification. Indian exporters have increasingly expanded their presence in emerging markets to reduce dependence on a limited number of traditional destinations.

By strengthening trade relationships across multiple regions, the industry has been able to mitigate the impact of demand fluctuations in established markets. This approach has also allowed exporters to identify new consumer segments and adapt product offerings to suit regional preferences.

Industry analysts note that diversification has become an essential strategy for maintaining export stability in an unpredictable global environment.

Performance During the Current Financial Year

Despite the positive momentum in February, the overall performance of India’s gems and jewellery exports during the current financial year has remained largely stable rather than strongly expansionary.

From April 2025 to February 2026, total exports reached USD 25,933.72 million, equivalent to approximately Rs 2,28,230.06 crore. During the same period in the previous financial year, exports stood at USD 25,915.81 million, or roughly Rs 2,18,737.62 crore.

The marginal difference indicates that while the sector has avoided significant decline, global economic conditions have limited the pace of growth.

Global Challenges Affecting the Industry

The international gems and jewellery market has experienced several headwinds over the past year. Trade policies in major economies, particularly the United States, have introduced uncertainties that affect export planning and pricing strategies.

At the same time, geopolitical tensions in various parts of the world have contributed to volatility in global financial markets, influencing consumer spending patterns in luxury segments such as jewellery.

Changing consumer preferences have also reshaped demand trends, with buyers increasingly seeking sustainable, ethically sourced, and design-driven products.

These factors have compelled exporters to adopt more agile strategies in order to remain competitive.

Resilience of India’s Jewellery Sector

Despite these challenges, India’s gems and jewellery industry has demonstrated notable resilience. The country remains one of the world’s largest centres for diamond cutting, polishing, and jewellery manufacturing.

Strong manufacturing capabilities, skilled craftsmanship, and a well-established supply chain continue to support the sector’s global competitiveness.

In addition, industry stakeholders have been actively investing in design innovation, branding, and international marketing initiatives to strengthen India’s position in global jewellery markets.

Economic Significance for India

The gems and jewellery sector plays a crucial role in India’s export economy. It contributes significantly to foreign exchange earnings and supports millions of jobs across the country’s manufacturing and trading ecosystem.

Major production hubs such as Mumbai, Surat, and Jaipur remain central to the industry’s global operations, serving as key centres for diamond processing and jewellery fabrication.

As global demand evolves, the sector’s ability to adapt through innovation and market expansion will remain critical for sustaining its economic contribution.

Outlook for the Sector

Looking ahead, industry leaders remain cautiously optimistic about the future of India’s gems and jewellery exports. Continued diversification into emerging markets, combined with product innovation and improved branding, is expected to support gradual growth.

However, global economic uncertainties and geopolitical developments will continue to influence demand patterns in the luxury goods market.

For exporters, maintaining flexibility in supply chains and strengthening international partnerships will be essential to navigating these challenges.

If current strategies prove effective, India’s gems and jewellery industry could reinforce its position as a dominant player in the global jewellery trade while sustaining steady export growth in the years ahead.