India’s gem and jewellery exports remained stable at US$ 23.19 billion (?2,03,280.72 crore) during April 2025–January 2026, reflecting resilience amid global trade challenges. Dollar-value exports dipped marginally by 0.64%, while rupee terms grew 3.57% compared to the previous year. Exports to the US, India’s largest market, fell over 45% due to tariffs, but the new India–US trade deal, restoring an 18% tariff, is expected to boost exports by up to US$ 3 billion. Meanwhile, India diversified successfully, with strong growth to the UAE (+23.7%), Hong Kong (+33.5%), Australia, France (+36% each), Belgium, Thailand, and Israel, demonstrating adaptability and a growing global footprint.