Indian gems exporters face US market challenges

India’s gems and jewellery exporters faced a difficult year in the US market in 2025-26 due to additional tariffs and uncertainty. Exports to the US dropped 45% during the year, but shipments grew by 6% in the first half of the current fiscal.

Natural diamond shipments to the US fell 60% year-on-year to $1.45 billion. Exporters are now focusing on other markets like the UAE, Hong Kong, and France to offset the loss of US business.