India's Gems and Jewellery Exports Nearly Flat Amid US Decline and Growth in Other Markets

India's gems and jewellery exports remained nearly flat in the first nine months of 2025, with a slight 0.41% decline year-on-year to $20.75 billion. December exports fell 4.98% to $1.88 billion, mainly due to a 50% drop in shipments to the US amid tariff concerns and subdued demand. Growth in gold, silver, and platinum jewellery exports, along with increased shipments to the UAE, Hong Kong, and Australia supported overall stability. Industry leaders emphasize the role of Free Trade Agreements and ongoing trade discussions to address challenges.