India’s gross gem and jewellery exports rose 9.43% in US dollar terms to $2.95 billion in September 2026. In rupee terms, exports increased 18% year-on-year to ₹28,158 crore.
For April–September 2026, exports reached $14.30 billion, registering growth of 3% in dollar terms and 13% in rupee terms. Strong performances in studded gold jewellery, silver jewellery and polished lab-grown diamonds supported the growth.
Studded gold jewellery leads growth
“The growth in exports in September and during the first half of FY27 is encouraging, demonstrating that India’s gem and jewellery exports continue to grow despite an uncertain global trade environment,” Gem and Jewellery Export Promotion Council (GJEPC), Chairman, Kirit Bhansali, said.
Studded gold jewellery exports rose 31% to $3.69 billion during April–September. Improved trade access under the India–UK trade agreement, reduced US tariffs and demand from Hong Kong, Singapore and France supported the segment.
Gold prices pressure plain jewellery
Gold prices increased 31% to $4,416 per troy ounce during April–September, against $3,366 a year earlier. Plain gold jewellery exports declined 9% to $2.53 billion amid higher prices and challenging demand, particularly in the Middle East.
Diamond exports show mixed trends
Cut and polished diamond exports declined 7% in dollar terms to $5.81 billion. However, export volumes rose 5% to 83.98 lakh carats, while rupee-value exports grew 2%, indicating signs of gradual recovery.
Lab-grown diamonds and silver gain
Polished lab-grown diamond exports increased 17% to $685 million, supported by steady prices. Silver jewellery exports grew 23%, reflecting stronger international demand for higher-value, design-led collections.
The sector’s performance highlights diverging trends across product categories, with selected segments offsetting pressure on plain gold jewellery and cut and polished diamonds.