Datanomics: India's gems and jewellery export growth flat in FY26

Nearly half of the pearls and precious stones coming to India were imported from UAE in FY26 (till Jan). The UAE also supplied around 23% of India's gold imports in the same period

The West Asia conflict is poised to hamper India’s gems & jewellery exports to that region. The industry was already struggling to stay afloat after the US tariffs. India’s gems & jewellery export growth has remained flat in FY26 (till February) compared to FY25, according to data released by Gems and Jewellery Export Promotion Council. 

 

Declining export share 

 

India’s gems & jewellery exports, which have been declining, dropped further in FY25 to $29.85 billion — the lowest since FY11 barring the pandemic year FY21. Their share in India’s total exports is also at their lowest in this century. 

 

UAE India’s largest export market in FY26

 

The UAE has surpassed the US to become India’s largest jewellery export market in FY26 (till January), pointing to the success of India’s diversification efforts to tackle the impact of US tariffs. The exports to the US almost halved so far this year.  

 

Most pearls and precious stones come from UAE

 

Nearly half of the pearls and precious stones coming to India were imported from UAE in FY26 (till Jan). The UAE also supplied around 23 per cent of India’s gold imports in the same period.