Gems & jewellery exports slipped 30% to $2.17 billion in October: GJEPC

Sector hopes for relief as FTA talks with the US and EU progress; FY26 exports may still reach $30-35 billion

India’s gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 billion, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products. 

Gems and Jewellery Export Promotion Council (GJEPC) chairman Kirit Bhansali, however, exuded optimism despite the external challenges. He expects exports for FY26 to hover around $30-35 billion, compared to $29.8 billion in the same period a year earlier. 

“Despite tariff issues, we have maintained our target for natural diamonds; the demand is good. The lab-grown diamond segment is doing well; so there is no