Surat: India’s gem and jewellery exports grew by 3.86% in Feb, with silver and platinum jewellery driving the growth, largely due to rising bullion prices. Industry data indicates that while the effect of US tariffs continues to weigh on exports, the sharp decline seen last year has stabilized in recent months.Gross exports of gems and jewellery stood at $2.6 billion in Feb, compared to $2.5 billion in the same month last year. Notably, exports had declined by 23% in Feb 2025 compared to the previous year.For the period from April 2025 to Feb 2026, total exports were $25.93 billion, marginally higher than $25.91 billion during the same period a year earlier.Cut and polished diamond (CPD) exports declined slightly during the month to $1.35 billion, down 0.84% from $1.36 billion in February last year. For the April-Feb period, CPD exports fell by 6.71% to $11.32 billion, compared to $12.13 billion in the corresponding period of the previous year.Exports of polished lab-grown diamonds (LGD) stood at $114 million in Feb, growing by 1.85% from $112 million last year. However, between April 2025 and Feb 2026, LGD exports declined by 8.58% to $1.03 billion, compared to $1.13 billion a year earlier.Silver jewellery exports recorded the sharpest rise, growing by 124% in Feb to $116 million from $52 million last year. In the first 11 months of the financial year, exports rose by 55% to $1.39 billion from $898 million. The surge was largely attributed to a nearly 68% increase in silver prices.Platinum jewellery exports also saw strong growth, rising by 44% between April 2025 and Feb 2026 to $236 million from $164 million a year earlier. Platinum prices rose by about 59% during the financial year.Studded gold jewellery exports grew by 11% in Feb to $509 million from $460 million last year. During April 2025 to Feb 2026, exports increased by 9% to $6.07 billion from $5.57 billion.In contrast, plain gold jewellery exports declined by 5% in Feb to $419 million from $440 million a year earlier. However, exports for the April-Feb period grew by 2.44% to $4.63 billion from $4.52 billion. Gold prices rose by around 52% during the current financial year.
