Mumbai, Oct 14 (PTI) The overall gems and jewellery exports rose by 6.55 per cent in September to USD 2,914.29 million (Rs 25,737.50 crore) despite global headwinds as festive and wedding season demand gains momentum, the Gem and Jewellery Export Promotion Council (GJEPC) said on Tuesday.

Gem and jewellery exports stood at USD 2,735.26 million (Rs 22,925.81 crore) in in September 2024, GJEPC said in a statement.

In the first half of 2025-26, the overall gem and jewellery exports witnessed a growth of 3.66 per cent at USD 14.09 billion compared to USD 13.60 billion in the same period of the previous fiscal.

"The first half of this financial year reflects encouraging signs of recovery for the industry. Demand for gem and jewellery products has strengthened across key markets such as the UAE, Hong Kong, and the UK, with exports registering consistent growth. The upcoming festive and wedding season among the Indian diaspora, together with the holiday season demand in global markets, is expected to further sustain this positive momentum in the coming quarter," GJEPC Chairman Kirit Bhansali said.

However, the United States - a key destination for Indian gem and jewellery exports - continued to face challenges due to tariff-related factors, according to GJEPC data.

For the April-September period of 2025, overall exports to the US declined 40.28 per cent to USD 2,770.66 million, while exports of cut and polished diamonds fell 53.62 per cent to USD 1,175.09 million.

"GJEPC remains in close coordination with the government as exporters and manufacturers catering to the US market face significant stress due to the prevailing tariff situation.

"We are actively engaging with the government to advocate for relief-oriented measures to stabilise the sector. Key recommendations include deferment of interest on working capital loans, relief in pre-shipment finance, extension of the Interest Equalisation Scheme, permission for reverse job work in SEZs, allowing sales from SEZs to the Domestic Tariff Area (DTA), and provision of liquidity support packages for affected MSMEs," said Bhansali.

He further said safeguarding workers’ welfare is a key priority and GJEPC has also proposed concessional loans and liquidity support, restructuring of personal loans for affected workers, an education grant of Rs 1,000 per girl child, and temporary inclusion under Ayushman Bharat for healthcare cover.

These measures aim to ease financial pressures and provide vital social protection until normalcy returns, Bhansali stated.

Meanwhile, according to the GJEPC data, the overall exports of Cut and Polished diamonds (CPD) went up by 5.91 per cent at USD 1,368.04 million (Rs 12,079.91 crore) in September compared to USD 1,291.71 million (Rs 10,829.29 crore) for the same period of the previous year.

The total export of gold jewellery saw a growth of 2.4 per cent at USD 1,092.0 million (Rs 9,646.89 crore) in September compared to USD 1,066.37 million (Rs 8,935.48 crore) for the same period of the previous year.

“With global retail markets entering their busiest quarter, we expect the next few months to strengthen export performance further. India’s reputation as a reliable sourcing destination, supported by its craftsmanship and scale, continues to drive international demand,” Bhansali added. PTI SM MR

Gems and jewellery exports rose, but tariffs in a key market drove sharp declines, prompting relief proposals to stabilize exporters. Exports rose to USD 2,914.29 million in September with growth in cut and polished diamonds and gold jewellery, while exports to a key market fell sharply due to tariff pressures. The industry requested government relief: deferment of interest on working capital loans, pre shipment finance relief, extension of the Interest Equalisation Scheme, permission for reverse job work in SEZs, allowance of SEZ sales to the Domestic Tariff Area, liquidity support for MSMEs, and social protection measures for affected workers to stabilise cash flow and protect employment.