Shipments to the U.S. fell 45% from a year earlier to $5.09 billion, as exports were disrupted for several months after Washington imposed reciprocal tariffs and later added a further 25% duty on Indian goods, GJEPC data showed.
Gems and jewellery exports in the 2025/26 fiscal year dipped 3.3% from a year earlier to their lowest level in five years, as shipments to the top buyer, the U.S., nearly halved, a leading trade body said on Wednesday (April 15, 2026), reflecting the impact of tariffs and duties.
Gem and jewellery exports in the year to the end of March fell to $27.72 billion, the lowest since 2020/21, when pandemic-led lockdowns disrupted trade, and down from $28.7 billion in the previous year, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement.