Written by Kamal SaiyedSurat | October 15, 2025 01:40 AM IST 2 min readThe US is the largest export market for CPD, accounting for nearly a third of India’s annual gems and jewellery exports valued at nearly $10 billion of its total exports in this sectorEXPORTS OF cut and polished diamonds (CPD) to the US, a major market for the gemstone, fell by over more than half this year compared to the corresponding first half of the previous financial year (April-September 2024) while exports to the UAE, Hong Kong and the UK surged, as per data released by the Gems and Jewellery Export Promotion Council (GJEPC) Tuesday.The highest surge was seen in the UAE market that grew by 65.23% (nearly $1,300 million) followed by an 18% rise in the Hong Kong market at $2057 million and the UK, which saw a 17% rise valued at $155.50 million, as compared to the 53.62% fall in the US market ($1,175 million), a statement issued by the Council said.The US is the largest export market for CPD, accounting for nearly a third of India’s annual gems and jewellery exports valued at nearly $10 billion of its total exports in this sector, which was badly hit after the new tariffs imposed in the sector by President Donald Trump which kicked in from August.A statement from the Council said that overall the gems and jewellery export witnessed a growth of 3.66% valued at $14.09 billion in the April- September 2025, compared to exports worth $13.60 billion in the same period last year.GJEPC chairman Kirit Bhansali was quoted as saying the Council was in “close coordination with the Indian Government” to help the industry. He said that as exporters and manufacturers catering to the US market faced a significant drop due to the prevailing tariff situation.Stay updated with the latest - Click here to follow us on Instagram© The Indian Express Pvt LtdTags:diamond marketGJEPC