New Delhi, April 15 -- India's gem and jewellery exports declined in the financial year 2025-26, impacted by tariff-related uncertainties in key markets such as the United States, even as countries like the UAE, Hong Kong, Australia and Canada demonstrated strong growth, reflecting a shift towards market diversification.

According to data released by the Gem and Jewellery Export Promotion Council, exports stood at USD 27.72 billion in FY26, registering a decline of 3.32 per cent year-on-year. In rupee terms, however, exports rose marginally by 0.93 per cent to Rs 2,44,827.26 crore compared to Rs 2,42,559.39 crore in the previous financial year.

The decline was largely attributed to evolving tariff regimes in the US, along with global in...