GJEPC puts FY2025-26 exports at $27.72bn, members at 10,910
The council's 60th annual meeting sat at the Bharat Diamond Bourse on 23 September. Chairman Kirit Bhansali counted four free trade agreements signed in the year, with the UK, EU, Oman and New Zealand.
By The Diamonds Desk
What changed
India's council counts $27.72bn. GJEPC told its 60th annual general meeting that Indian gem and jewellery exports stood at US$27.72bn in FY2025-26. Membership rose to 10,910 over the same year.
What it means
- If you export from India: Four new agreements covering the UK, EU, Oman and New Zealand now sit alongside the UAE CEPA and Australia ECTA.
- If you buy Indian goods: The council names the UAE, Hong Kong, Australia, Canada and France as its stronger markets in the year.
- What this is not: A growth figure. The council gave the FY2025-26 total and no prior-year comparison, so nothing here says exports rose or fell.
Key figures
| Gem & jewellery exports, FY2025-26council's own figure | US$27.72bn |
|---|---|
| GJEPC membershipincreased during the year | 10,910 |
| FTAs signed in the yearUK, EU, Oman, New Zealand | 4 |
| Annual general meeting23 September, Mumbai | 60th |
Source: GJEPC's own release on the 60th annual general meeting, held 23 September 2026 at the Bharat Diamond Bourse, Mumbai, in hybrid mode
Six agreements, four of them new
Four were signed. Bhansali named agreements with the UK, the EU, Oman and New Zealand as signed during FY2025-26.
Two already ran. The UAE CEPA and Australia ECTA predate the year. The council says the set gives zero or near-zero duty access in several major markets.
| Item | Detail | Where it appears |
|---|---|---|
| Gem & jewellery exports, FY2025-26 | US$27.72bn | Chairman's address |
| Membership | 10,910 | Chairman's address |
| FTAs signed in the year | UK, EU, Oman, New Zealand | Chairman's address |
| Agreements already in force | UAE CEPA, Australia ECTA | Chairman's address |
| Directors regularised | 10 | AGM agenda |
| Statutory auditors proposed | CNK & Associates LLP, five years | AGM agenda |
| Scrutiniser | Pramod Shah & Associates | AGM procedure |
Notes on this table
The dateline. the release's own body reads "held its 60th Annual General Meeting (AGM) on 23rd September, 2026, at the Bharat Diamond Bourse, Mumbai, in hybrid mode", and the page's own stamp reads Sep 23, 2026. The 4 agreements counted in the key figures are the 4 named in the row below: the UK, the EU, Oman and New Zealand.
One document, no arithmetic. every figure in this table is stated in GJEPC's own release and none of it is derived here. The release gives no prior-year export total, no percentage change and no monthly breakdown, so no growth rate is computed or implied anywhere in this article.
The currency is the council's. the export total is published as US$27.72 billion by GJEPC itself; no rupee figure is given and none is converted.
What the release does not carry. it does not state the value of trade covered by the four new agreements, the duty rates they set, a membership figure for the prior year, or the vote counts on any resolution.
On the platform. the release names Kirit Bhansali as chairman presiding, with Shaunak Parikh, vice chairman; Anil Virani, convener, audit and finance; Sabyasachi Ray, executive director; and Sandeep Sharma, chief financial officer.
Procedure. the meeting ran physically and virtually with e-voting, and the scrutiniser's report is due within three days of the AGM.
Five markets named as stronger
Demand moved unevenly. The chairman cited the UAE, Hong Kong, Australia, Canada and France as stronger markets in the year.
Value-added grew. He named studded gold, silver and platinum jewellery as growth categories, set against weak global demand and changing US tariff policy.
The meeting's own business
Accounts were adopted. The agenda covered audited standalone and consolidated statements for FY2025-26 and branch auditor appointments.
Ten seats were confirmed. Members considered resolutions regularising 10 directors earlier appointed as additional directors. CNK & Associates LLP was proposed as statutory auditors for five years.
What to watch
- By 26 September 2026The scrutiniser's report on the e-voting, which Pramod Shah & Associates is to submit within three days of the meeting.
- Mid-October 2026GJEPC's next monthly export and import print, the first dated flow reading after this annual total.
- FY2026-27The first full year in which the UK, EU, Oman and New Zealand agreements can show up in the monthly prints.
The story so far
Go deeper
What would change this call
A restated total. An annual figure given in a chairman's address can be revised when the council publishes its audited or month-summed series, and GJEPC's own monthly prints have been revised before. A rupee-denominated total struck at a different exchange rate would also change the dollar figure printed here without any trade having changed.
An export total and a monthly print are not the same series
GJEPC publishes monthly gross export and import figures by category and, separately, annual totals in board and meeting documents. The two are built from the same customs base but they are compiled at different times and can be revised on different clocks, so a full-year figure quoted in September need not equal the sum of the twelve monthly prints as they stood when each was published. A financial year in India runs April to March, so FY2025-26 closed on 31 March 2026, roughly six months before this meeting. That gap is why an annual figure can appear settled while the monthly series behind it is still moving. This paper has covered several of those monthly prints by destination market and category, and none of them carried this annual total.
Method
The release was fetched directly from GJEPC's own site rather than from a trade-press syndication: 200, 34,581 bytes, and the body text was read out of the served page. The dateline in that body reads "held its 60th Annual General Meeting (AGM) on 23rd September, 2026, at the Bharat Diamond Bourse, Mumbai, in hybrid mode", and the page's own date stamp reads Sep 23, 2026. The export figure appears as "total exports stood at US$27.72 billion" and the membership figure as "GJEPC's membership increased to 10,910 during the year" - both quoted from that page and neither taken from an upstream desk's summary. The four agreements, the two already in force, the five named stronger markets, the three value-added categories, the ten directors, the five-year auditor proposal and the scrutiniser's three-day deadline are each stated in that same body. The archive was checked by opening every hit rather than counting them. A search for "27.72", "$27.7" and "27,72" across the built site returns nothing. A search for "Bhansali" returns three files; all three were opened, and they are a Delhi customs grievance meeting in Mumbai and Bart De Wever's Antwerp delegation to India, plus the record index - neither is this meeting. A search for "Annual General Meeting" returns nothing and "10,910" returns nothing. A search for "FY2025-26" returns five articles, each of which was opened: they are per-market and per-category export stories on China, Australia, New Zealand, Russia's cutting cluster and silver assay volumes, and none of them carries a full-year total. Under the Period Rule this is the same entity on a period this paper has not covered - the full financial year and the meeting that reviewed it - so the verdict is new rather than a repeat. No growth rate is stated here because the release states none, and none was constructed from our own archived monthly figures, which are compiled on a different clock.