Surat: India’s gems and jewellery trade began the new financial year on a weak note in April, with exports and imports falling year-on-year amid geopolitical uncertainty and subdued global demand, though select high-value segments showed resilience.Gross exports of gems and jewellery stood at $2.2 billion in April, down 9% from $2.4 billion in the same month last year. Gross imports also declined by 9.54% to $1.8 billion from $2 billion a year earlier, according to data released by the Gem and Jewellery Export Promotion Council.Diamonds remained under the sharpest pressure. Cut and polished diamond exports fell 19% to $890 million in April from $1.1 billion in April 2025. Polished lab-grown diamond exports also dropped 15% to $93 million from $110 million a year earlier.Plain gold jewellery exports saw a steep fall of 47%, slipping to $341 million in April 2026 from $644 million a year ago, pointing to subdued demand in one of the sector’s key categories.Some segments, however, showed strength despite the broader slowdown. Studded gold jewellery exports rose to $500 million in April 2026 from $431 million in April 2025, indicating better demand for value-added products. Platinum jewellery exports recorded the strongest growth among reported categories, rising 90% to $22 million from $11 million a year earlier.The mixed performance reflects a shift in export demand within the sector. While diamonds and plain gold jewellery continued to face pressure, higher-value and niche segments such as studded gold and platinum jewellery posted healthy gains.Overall, the April data points to a challenging external environment, with the decline in both exports and imports suggesting that global demand conditions for India’s gems and jewellery trade remain uneven.Silver jewellery exports grew by 444%Surat: Silver jewellery exports surged 444% to $268 million in April 2026 from $49 million in April 2025, according to the latest trade data. The sharp rise came despite a steep increase in silver prices, which have climbed 134% in dollar terms over the past year. Industry observers said strong overseas demand, higher value realisation and a shift in buyer preference towards silver supported export growth. The trend highlights the emergence of the silver jewellery segment amid volatile markets, with exporters expected to benefit further if demand stays firm in key international destinations despite elevated raw material costs.
