India Gems Exports Slide Amid Trade and War Fears

Gems and Jewelry News: India’s gems and jewellery sector has begun the new financial year under mounting pressure, with exports falling sharply in April 2026 as geopolitical instability and uncertainty over US tariffs rattled global demand. Fresh figures released by the Gem and Jewellery Export Promotion Council (GJEPC) showed that overall exports slipped by 9.07 percent to $2.22 billion compared to $2.44 billion during the same month last year.

Industry insiders say the ongoing conflict in West Asia has disrupted shipping routes, weakened buyer sentiment, and slowed international orders across several major markets. At the same time, exporters are also facing anxiety surrounding possible tariff measures in the United States, which remains one of India’s largest destinations for gems and jewellery products. This Gems and Jewelry News report highlights how multiple external shocks are now colliding at once, creating one of the toughest openings to a financial year in recent memory for the Indian jewellery trade.

Diamonds Suffer Heavy Blow

The diamond segment recorded some of the steepest declines. Exports of cut and polished diamonds dropped nearly 20 percent to $890.91 million in April, down from $1.10 billion during the same period last year. The slowdown reflects weaker global demand, cautious inventory purchasing by retailers, and continued pressure on polished diamond prices in international markets.

Lab-grown diamonds also failed to escape the downturn. Exports of polished lab-grown stones declined 15.53 percent to $93.28 million compared to $110.43 million a year earlier. While the category had previously shown strong growth momentum, softer consumer spending in key western markets appears to have temporarily weakened demand.

Gold Jewellery Sector Faces Uneven Performance

Gold jewellery exports also struggled significantly. Total gold jewellery shipments fell 21.77 percent to $841.54 million in April from $1.07 billion recorded in April 2025. The biggest shock came from plain gold jewellery exports, which plunged by more than 47 percent to $341.08 million.

However, there was one bright spot within the gold segment. Studded gold jewellery exports rose by 16.02 percent, reaching $500.46 million compared to $431.35 million last year. Analysts believe premium and design-focused jewellery products continue to attract stronger international demand despite the broader slowdown.

Silver Jewellery Delivers Surprise Surge

In a dramatic turnaround, silver jewellery emerged as the biggest success story of the month. Exports skyrocketed by an astonishing 444 percent to $268.38 million, compared to just $49.33 million in April 2025. The surge has surprised many within the industry and is being linked to shifting consumer preferences, rising affordability concerns, and increased global interest in silver-based fashion jewellery.

GJEPC Chairman Kirit Bhansali said the industry continues to battle disruptions caused by geopolitical tensions and lingering uncertainty surrounding trade policies. Exporters are also increasingly focusing on boosting domestic sales in an effort to offset weakening overseas demand.

While the April numbers paint a challenging picture, many in the industry remain hopeful that stability in global markets and clearer trade policies could help revive momentum in the coming months. The sharp rise in silver jewellery exports and resilience in studded jewellery also indicate that opportunities still exist for companies willing to adapt to changing consumer trends and market realities.

For the latest Gems and Jewelry News, keep on logging to Bangkok Gems News.