India's gems and jewellery exports fell over 9% year-on-year in April 2026 due to weak global demand and volatile precious metal prices. Gross exports declined to $2.23 billion (₹20,825 crore) from a year earlier, as per industry data. Imports also dropped 9.54% to $1.84 billion (₹17,195 crore) amid cautious buyer sentiment and geopolitical tensions.