India's Gem and Jewellery Exports Shine Despite Global Challenges

India's gem and jewellery exports grew by 3.86% in February, reaching USD 2,680.79 million. Despite global challenges like geopolitical uncertainties and US tariff policies, the industry showed resilience through market diversification. Significant export growth was noted in gold and silver jewellery, though diamond exports faced slight declines.

India's gem and jewellery exports witnessed a 3.86% year-on-year growth in February, reaching USD 2,680.79 million, the Gem and Jewellery Export Promotion Council (GJEPC) reported.

The industry's resilience amid global challenges such as evolving US tariff policies and geopolitical uncertainties is underscored by their strategic diversification into markets like the UAE and Australia. These efforts have bolstered their export statistics despite adversities.

While cut and polished diamond exports dipped slightly, there was notable growth in polished lab-grown diamonds, gold, and silver jewellery exports. The industry remains vigilant of geopolitical situations, especially in West Asia, while navigating the final quarter of the financial year, GJEPC Chairman Kirit Bhansali commented.

(With inputs from agencies.)