Editor’s Note
**Editor’s Note:** India’s gem and jewellery exports saw a sharp 35.23% decline in March, driven by ongoing geopolitical tensions in West Asia. The figures, released by the GJEPC, underscore the sector’s vulnerability to global instability.
India’s gem and jewellery exports fell by 35.23% in March this year to $2,771.74 crore (₹2,44,827.26 crore), primarily due to the West Asia conflict, according to the Gem and Jewellery Export Promotion Council (GJEPC) on Tuesday.
According to GJEPC data, total gem and jewellery exports in March 2025 stood at $2,866.95 crore (₹2,42,559.39 crore).
GJEPC Chairman Kirit Bhansali told PTI-Bhasha:
However, Bhansali said that with policy support, this situation could become an opportunity for India, making the country a hub for rough diamond trading.
Bhansali said:
Since 2020, the UAE has become a major hub for rough diamond trading due to easy access to India.
Meanwhile, total gem and jewellery exports in 2025-26 saw a marginal decline of 3.32% to $2,771.74 crore (₹2,44,827.26 crore), compared to $2,866.95 crore (₹2,42,559.39 crore) in FY 2024-25.
Bhansali said the impact of US tariffs has diminished as GJEPC has explored other markets.
According to data, total exports of cut and polished diamonds (CPD) fell 27.48% in March to $83.875 crore (₹7,798.82 crore), compared to $115.66 crore (₹10,002.52 crore) in the same period last year.
