Gem and jewellery exports from India to the US dropped by 44.42% year on year during April to December 2025 to total $3.86 billion, compared to $6.95 billion in the corresponding period a year prior. This has caused the Gem and Jewellery Export Promotion Council to raise concerns.

 
“The United States remains India’s largest export destination, accounting for nearly 30% of our gem and jewellery exports,” said GJEPC chairman Kirit Bhansali in a press release. “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. That said, we have full faith in the Government of India and remain hopeful that ongoing bilateral trade discussions will lead to a positive and timely resolution.”
 
In December 2025, Indian gem and jewellery exports to the US declined by 50.44% year on year as a dip in demand and tariff-related pressures continued to affect the industry. However, despite the drop in US trade, India’s total gem and jewellery exports remained stable during the April to December 2025 period, according to the GJEPC. This has resulted in India’s total provisional gem and jewellery exports for the nine-month period being aggregated at $20.75 billion, representing a dip of 0.41% year on year and 3.69% growth in rupee terms.

“Free Trade Agreements with the UAE and Australia have come at a crucial time for the industry,” said Bhansali. “Recent FTAs with the UK, Oman, New Zealand, and others will further enhance competitiveness by reducing duties and easing trade barriers. With the Government of India currently negotiating multiple trade agreements, we are confident these will open new markets and strengthen India’s position globally on quality, value and trust.”