India gems & jewellery exports up 6.66% in May to $2.53 billion

India's gems and jewellery exports rose by 6.66% year-on-year to $2.53 billion in May 2026, according to data from the Gem and Jewellery Export Promotion Council (GJEPC). This marks a recovery in the sector after a period of decline, particularly in the previous fiscal year, when exports fell to a five-year low due to U.S. tariffs and global trade disruptions.

The increase in May 2026 reflects improved demand in key markets and the gradual easing of trade tensions. Earlier in April 2026, the sector had experienced a 9.07% decline in exports year-on-year to $2.226 billion, highlighting the volatility in the market. However, the May figures indicate a positive trend, with the industry showing resilience amid ongoing global uncertainties.

The GJEPC has noted that while exports to the U.S. have been significantly impacted by additional duties, other markets have shown strong growth such as the UAE, Hong Kong, Australia, and Canada. The organization also anticipates that free trade agreements will further support the sector's recovery and growth with the UK and EU in the current fiscal year.

Despite the recent uptick, the overall gem and jewellery exports for the fiscal year 2025/26 still stand at $27.72 billion, a 3.3% decline compared to the previous fiscal year. This underscores the need for continued policy support and market diversification to sustain long-term growth in the sector.