India Jewellery Exports: February Mein **3.86%** Ka Jump! Par Geopolitics Aur US Tariffs Ki Tension Hai

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AuthorIshaan Verma|Published at:
India Jewellery Exports: February Mein **3.86%** Ka Jump! Par Geopolitics Aur US Tariffs Ki Tension Hai
Overview

Yaar, apne desh ke jewellery exports ne February mein achhi khabar di hai! Export **3.86%** badh kar **$2.68 billion** tak pahunch gaye. UAE aur Australia jaise naye markets mein FTA ki wajah se ye growth hui hai.

Toh hua kya hai ki Gem and Jewellery Export Promotion Council (GJEPC) ne bataya hai ki February mein exports 3.86% badh kar $2.68 billion ho gaye. Ye number Fiscal Year 2025-26 ke liye saal bhar ke performance ko dekhte hue thoda achha lag raha hai, kyunki ab tak total exports lagbhag flat ( $25.93 billion ) rahe hain. Industry ne strategy change ki hai, UAE aur Australia jaise countries mein FTAs ke through trade badhaya hai. Hong Kong jaise purane markets bhi support kar rahe hain. Ye diversification isliye zaruri hai kyunki saal ke 11 mahino mein exports lagbhag same hi rahe hain, pichhle saal ke $25.92 billion se zyada change nahi hai.

Ab ye 3.86% ka rise aise hi nahi hua. Global trade mein kaafi complications chal rahi hain. GJEPC ne kaha hai ki US ke tariffs rules mein kuch changes se studded jewellery segment ko thoda support mila hai, par uncertainty abhi bhi hai. Pehle US ne natural diamonds aur loose stones par 10% import duty laga di thi, jisse tension thi. Lekin ab India aur US ke beech ek trade deal ho sakti hai jisme India se loose natural diamonds aur gemstones par tariff 0% ho jayega, toh ye ek achhi khabar hai, haalanki abhi finalize nahi hua hai. FTAs ka asar toh dikh raha hai. India-UAE CEPA ne Gulf region mein gold aur diamond jewellery exports ko kaafi boost kiya hai. Australia ke saath ECTA ne bhi tariffs hataye hain, jisse wahan market access easy hua hai aur April-November 2025 period mein exports 36% badhe hain. Ye market expansion important hai kyunki US, jo hamara sabse bada market hai, wahan April-November 2025 mein exports 43.8% kam ho gaye the.

February mein figures acche lagein, par alag-alag segments mein performance mixed rahi. Cut aur polished diamonds exports 0.84% gir kar $1.35 billion ho gaye. Polished lab-grown diamonds mein 1.85% ki halki badhotri hui. Gold jewellery exports 3.23% badh kar $928.85 million ho gaye, demand abhi bhi solid hai. Lekin sabse zabardast toh silver jewellery ne kiya, export 123.77% bhaga aur $116.37 million pahunch gaye! Ye diamond segment ke overall struggles se alag hai, jahan April-February FY26 mein cut aur polished diamond exports 6.7% gir kar $11.32 billion ho gaye the. Aur tension toh abhi khatam nahi hui hai. West Asia mein chal rahe geopolitical issues exports ko aur complicated bana rahe hain. Strait of Hormuz jaise important shipping routes mein problems se freight aur insurance costs badh rahe hain, aur supply chain ki reliability bhi kam ho rahi hai. GCC region, jo India ke total exports ka kaafi bada hissa (April-December 2025 mein around 36%) hai, wo gems aur jewellery ke liye ek key market hai aur raw material ka source bhi. Yahan ka conflict in flows ke liye direct risk hai, jisse UAE jaise important centers mein demand affect ho sakti hai aur rough diamonds aur bullion ka inflow bhi disturb ho sakta hai, jo India ki processing industry ke liye zaruri hai.

Agar bade listed jewellery companies ki baat karein toh Titan ka P/E ratio lagbhag 94.6x hai aur market cap ₹3.61 trillion ke aas paas hai. Kalyan Jewellers ka P/E 34.68x aur market cap ₹39,141 crore hai. PC Jeweller thoda conservative hai, P/E 10.4x aur market cap ₹6.82 billion hai. Industry ka future outlook toh growth dikha raha hai, Indian market 2034 tak $231.9 billion ka ho sakta hai, jo 8.83% CAGR se badhega. Lekin abhi geopolitical instability aur US market ke trade tariff issues ko solve karna sector ke liye ek bada test hoga.

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