India, Jan. 16 -- India's gem and jewellery exports were almost flat during April-December 2025 over the previous year, but exports to the United States during the same period declined 44% from $6.95 billion in April-December 2024 to $ 3.86 billion for the nine months of 2025, the Gem and Jewellery Export Promotion Council (GJEPC) said on Friday.

Provisional exports for the nine-month period of 2025 stood at $ 20.75 billion, a marginal year-on-year decline of 0.41%, while recording a growth of 3.69% in rupee terms.

Exports to the US declined 50.44% year on year in December 2025, reflecting tariff-related pressures and subdued discretionary demand. The United States is India's largest export market for gems and jewellery, accounting for ...