Report on deployment of bank credit to G and J Sector - May 2026

The Gem & Jewellery Export Promotion Council |Published in July’26 Deployment of bank credit May, 2026 ▪ Bank credit deployed as on May’26 ▪ Monthly movement in deployment of bank credit ▪ Monthly export performance of the G&J sector ▪ Export performance vs Bank credit deployed

Source : Reserve Bank of India Credit deployed to the all industries Credit deployed to the G&J Sector* Bank credit deployed as on May - 2026

• Deployment of credit pertains to the entire G&J sector not limited to SEZ, export or domestic markets. 3,703 3,882 4,624

500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 May-24 May-25 May-26 INR Crores in '000 82.8 87.0 117.9

20.0 40.0 60.0 80.0 100.0 120.0 140.0 May-24 May-25 May-26 INR Crores in '000 4.8% 19.1% 5.1% 35.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% May-25 May-26 Change in credit to G&J Sector (Y-O-Y) Change in credit to Industry (Y-O-Y)

Monthly o/s credit to all industries Monthly o/s credit to the G&J Sector Source : Reserve Bank of India Monthly movement in deployment of bank credit 3,933 3,948 4,002 4,081 4,193 4,219 4,413 4,388 4,447 4,582 4,538 4,624 3,800 3,900 4,000 4,100 4,200 4,300 4,400 4,500 4,600 4,700 Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 INR Crores in '000 88.8 91.5 94.1 100.4 102.1 103.4 110.1 117.2 116.5 121.4 114.6 117.9 70.0 80.0 90.0 100.0 110.0 120.0 130.0 Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 INR Crores in'000 1.3% 0.4% 1.4% 2.0% 2.7% 0.6% 4.6% -0.6% 1.3% 3.0% -1.0% 1.9% 2.1% 3.0% 2.8% 6.7% 1.7% 1.3% 6.5% 6.5% -0.6% 4.1%

00.0 110.0 120.0 130.0 Feb-25 May-25 Aug-25 Dec-25 Mar-26 Jun-26 INR Crores in'000 1.3% 0.4% 1.4% 2.0% 2.7% 0.6% 4.6% -0.6% 1.3% 3.0% -1.0% 1.9% 2.1% 3.0% 2.8% 6.7% 1.7% 1.3% 6.5% 6.5% -0.6% 4.1% -5.5% 2.9% -10.0% -5.0% 0.0% 5.0% 10.0% Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Change in credit to Industry Change in credit to G&J Sector

Source : GJEPC Analysis Export performance of the G&J sector 6.46 6.22 6.95 7.24 2.48 5.93 7.21 6.56 6.70 2.26 4.27 2.05

1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 Q1 - April to June Q2 - July to September Q3 - October to December Q4 - January to March May USD Billion FY 2025 FY 2026 FY 2027 (Q1 Consists of data till May 26)

Source : GJEPC Analysis Commodity wise exports 22047.72 1680.29 9618.81 4390.23 15967.02 1402.44 11230.17 3686.22 13292.43 1267.28 11367.77 2743.58 12159.83 1133 11364.32 3060.25 0 5000 10000 15000 20000 25000 Cut & Polished Diamonds Worked LGD Gold Jewellery (Plain & Studded) Others USD Mn 2022-2023 2023-2024 2024-2025 2025-2026 (Provisional)

Import & Export Trends Source : GJEPC Analysis 32.29 28.67 26.40 4.27 22.42 19.61 19.97 3.25 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 2023-24 2024-25 2025-26 2026-27 (FY 27 consists data till May 26) USD Bn Export Import

ce : GJEPC Analysis 32.29 28.67 26.40 4.27 22.42 19.61 19.97 3.25 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 2023-24 2024-25 2025-26 2026-27 (FY 27 consists data till May 26) USD Bn Export Import

Source : GJEPC Analysis Export performance vs Bank credit deployed 49% 40% 27% 25% 25.5 39.57 37.72 29.70 26.87 26.40 10.16 10.62 9.45 10.36 10.02 12.98 0 5 10 15 20 25 30 35 40 45 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 USD Billion Industry export turnover Gross bank credit 35% *There are some marginal changes as compared to previous data with reference taken from GJEPC portal 37%

Latest references issued by RBI: • RBI/2025-26/195 DOR.STR.REC.393/04.02.001/2025-26 dated 19th January 2026 Interest Subvention for Pre- and Post- Shipment Export Credit under Export Promotion Mission (EPM) – Niryat Prothsahan • Notification No. FEMA 23(R)/2026-RB dated 13th January 2026 Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026. • RBI/2025-26/96 DOR.STR.REC.60/21.04.048/2025-26 dated 14th November 2025 Reserve Bank of India (Trade Relief Measures) Directions, 2025 • RBI/2025-26/263 DOR.STR.REC.No.455/21.04.048/2025-26 dated 31st March 2026 Reserve Bank of India (Trade Relief Measures) Directions, 2026 • RBI/2026-2027/08 CO.DPSS.ID.No.S20/06-08-017/2026-2027 dated 9th April 2026 Guidelines to facilitate faster cross-border inward payments Source : GJEPC Analysis

Relief Measures) Directions, 2026 • RBI/2026-2027/08 CO.DPSS.ID.No.S20/06-08-017/2026-2027 dated 9th April 2026 Guidelines to facilitate faster cross-border inward payments Source : GJEPC Analysis

Latest references issued by RBI: • RBI/2026-2027/26 DOR.STR.REC.10/07-02-001/2026-27 dated 27th April 2026 Reserve Bank of India (Commercial Banks – Credit Risk Management) – Second Amendment Directions • Notification No. FEMA 23(R)/(8)/2026-RB dated June 05, 2026, Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 • RBI/2026-27/174 A. P. (DIR Series) Circular No 17 dtd. 24th June 2026, Modification of Returns/Reporting requirements under FEMA, 1999 • RBI/DPSS/2026-27/406 CO. DPSS.POLC.NO. S257/02-01-010/2026-27 dtd. 23rd June 2026, Reserve Bank of India (Trade Receivable Discounting System) Directions, 2026 Source : GJEPC Analysis

For any information contact: Mr. Sudhir Patil Manager – Trade Policy & Projects Tel : +91 22 4226 3600 ho@gjepcindia.com | www.gjepc.org Disclaimer This report is prepared by The Gems and Jewellery Export Promotion Council (GJEPC) for general guidance and information purposes only and should not be reproduced or disseminated to others without the permission of The Gems and Jewellery Export Promotion Council. Though, every effort is done to confirm the accuracy and completeness of the data contained, the GJEPC takes no responsibility and assumes no liability for any error/ omission or accuracy of the report. Readers of the report should seek professional advice or

teness of the data contained, the GJEPC takes no responsibility and assumes no liability for any error/ omission or accuracy of the report. Readers of the report should seek professional advice or arrive at their own judgement and conclusion before making any decision based on this report.