India’s gems and jewellery exports reported a significant rise in September 2025, reflecting the resilience of the industry despite global economic uncertainties. According to the Gem and Jewellery Export Promotion Council (GJEPC), the country’s exports grew 6.55% year-on-year to Rs. 25,844 crore (US$ 2.91 billion) in September 2025, compared to Rs. 24,245 crore (US$ 2.73 billion) recorded in the same month of 2024. This increase highlights the strength of the sector during the festive and wedding season, a period that traditionally drives jewellery demand both in India and among the diaspora abroad.

During the first half of FY26 (April to September 2025), overall gems and jewellery exports rose 3.66% to Rs. 1,25,133 crore (US$ 14.09 billion), compared to Rs. 1,20,782 crore (US$ 13.60 billion) in H1 FY25. This performance demonstrates gradual recovery in international markets despite ongoing inflationary pressures, geopolitical instability, and cautious consumer spending trends in several developed economies.

Growth across key categories

Within the overall performance, cut and polished diamonds exports registered a 5.91% rise to Rs. 12,078 crore (US$ 1.36 billion) in September 2025. Meanwhile, gold jewellery exports recorded a growth of 2.40% to Rs. 9,680 crore (US$ 1.09 billion), showing steady consumer preference for gold ornaments globally. These categories remain vital contributors to India’s jewellery export basket, reinforcing the country’s position as one of the leading suppliers of handcrafted and machine-crafted jewellery to international markets.

The Chairman of GJEPC, Mr. Kirit Bhansali, highlighted that the growth was primarily supported by improved demand in key export markets such as the United Arab Emirates (UAE), Hong Kong, and the United Kingdom (UK). The revival of these regions is encouraging since they form a substantial part of India’s jewellery export ecosystem. Additionally, the festive season demand in India and among the global Indian diaspora has added momentum to this recovery.

Policy support and relief measures

While exports have improved, the sector continues to face several challenges, especially smaller exporters who are struggling with liquidity constraints. Recognising this, the GJEPC is working with the Indian government to introduce relief measures. The council has suggested a deferment of loan interest, relief in pre-shipment finance, and extension of the Interest Equalisation Scheme to support exporters in sustaining growth. Additionally, it has proposed concessional loans, liquidity support packages, and temporary healthcare coverage under Ayushman Bharat for workers employed in the industry.

Such measures, if implemented, would help exporters better manage rising costs and navigate the uncertain global economic landscape while ensuring continuity of employment in the labour-intensive gems and jewellery sector.

Global positioning of Indian jewellery

India has historically held a strong position in the global gems and jewellery industry due to its craftsmanship, design expertise, and reliability. Despite competition from other manufacturing hubs, Indian jewellery continues to attract international buyers for its unique blend of tradition and innovation. The steady demand for cut and polished diamonds, gold jewellery, and other gem-studded ornaments reflects global confidence in Indian exporters.

As the global retail markets enter their busiest quarter—with festivals, weddings, and holiday shopping seasons approaching—India is expected to witness sustained demand. This period, spanning from October to December, is typically the strongest for the jewellery trade worldwide. The continued recovery of markets in the UAE, Hong Kong, UK, and the US further supports this positive outlook.

Half-yearly performance and outlook

For the first half of FY26, the export growth of 3.66% may seem modest, but it is crucial given the current global uncertainties. The gems and jewellery industry is navigating challenges such as fluctuating raw material prices, currency volatility, and softening demand in some Western markets. Despite these obstacles, India’s exports have managed to stay resilient.

Industry leaders remain optimistic that the upcoming festive and wedding seasons, both in India and abroad, will provide the necessary push to accelerate growth further. The global jewellery retail market is entering its peak sales cycle, and India, as one of the world’s largest suppliers, is expected to benefit.

Role of GJEPC in industry development

The GJEPC continues to play a pivotal role in strengthening India’s gems and jewellery exports. Beyond advocating for relief measures, it is actively engaging with exporters, government authorities, and international trade partners to expand India’s market share. By promoting innovation, modernisation, and workforce welfare, the council aims to ensure long-term sustainability of the sector.

Conclusion

India’s gems and jewellery exports rising 6.5% to US$ 2.9 billion in September 2025 underlines the resilience of the industry during challenging times. The combination of festive demand, improved international recovery, and policy support is expected to sustain growth in the coming months.

The performance of cut and polished diamonds exports and gold jewellery exports demonstrates steady consumer interest across global markets. With GJEPC’s proposed relief measures and government support, the sector is poised to navigate challenges effectively. As India’s jewellery exports to UAE, Hong Kong, UK, and other regions continue to recover, the outlook for FY26 remains promising.

The gems and jewellery industry, known for its craftsmanship, innovation, and reliability, remains a key driver of India’s export earnings and continues to strengthen its position in the global market. The coming festive and holiday season is likely to be another crucial phase where India can leverage both domestic and international demand to further boost its gems and jewellery exports.

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