India’s Gem & Jewellery Exports Rise 2.44% to $9.17 Billion
India’s gross gem and jewellery exports reached US$9.17 billion (₹87,078.01 crore) during April-July 2026, recording a 2.44% increase in US dollar terms and 13.58% growth in rupee terms compared with the same period last year, according to industry data.
Growth during the four-month period was led by value-added jewellery segments. Studded gold jewellery exports increased 21.09% to US$2.24 billion, while silver jewellery exports surged 72.19% to US$508.18 million. Platinum jewellery exports rose 17.20% to US$77.82 million, while polished lab-grown diamond exports grew 7.47% to US$408.50 million.
July Exports Remain Stable
India’s gross gem and jewellery exports in July 2026 stood at US$2.35 billion (₹22,511.64 crore), compared with US$2.34 billion (₹20,157.76 crore) in July 2025. This represents a marginal 0.38% growth in US dollar terms and an 11.68% increase in rupee terms.
Gold jewellery remained a key contributor during the month, with exports increasing 8.73% year-on-year to US$1.04 billion. Studded gold jewellery exports rose 21.36% to US$569.44 million, supported by demand from the UAE, Hong Kong and Singapore.
Meanwhile, cut and polished diamond exports declined 18.23% year-on-year to US$876.39 million. Polished lab-grown diamond exports also fell 8.23% to US$112.26 million during July.
Value-Added Jewellery Drives April-July Growth
Between April and July 2026, total gold jewellery exports, including plain and studded jewellery, increased 5.87% to US$4.03 billion. Studded gold jewellery was the stronger performer, rising 21.09%, while plain gold jewellery exports declined 8.46% to US$1.80 billion.
Silver jewellery recorded one of the strongest gains, with exports increasing 72.19% to US$508.18 million. Platinum jewellery exports rose 17.20% to US$77.82 million, while polished lab-grown diamonds grew 7.47% to US$408.50 million.
In contrast, cut and polished diamond exports declined 8% to US$3.60 billion, while coloured gemstone exports fell 13.04% to US$103.54 million.
Industry Outlook
Kirit Bhansali, Chairman, GJEPC, said, “Despite a challenging global environment, India’s gem and jewellery exports have shown encouraging resilience, with value-added segments such as studded gold jewellery, silver and platinum jewellery leading the way. The easing of gold prices is also expected to support demand in key consuming markets. Looking ahead, we remain optimistic. IIJS Bharat Premiere 2026 was a resounding success, attracting over 61,000 visitors, including more than 5,000 international visitors from 80 countries. The business generated at the show is expected to translate into shipments in the coming months, and we are confident this will contribute positively to India’s export performance ahead.”
Gold prices continued to soften in July, falling 3.88% from US$4,238.32 per troy ounce in June to US$4,073.92 per troy ounce. This followed a 10.28% month-on-month decline in June, marking the second consecutive month of price correction.
New Diamond Trading Policy
Commenting on the recently introduced Taxation and Other Laws (Amendment) Bill 2026, Kirit Bhansali highlighted its potential impact on India’s diamond trade.
He said the proposed 15-year income tax exemption for foreign companies trading rough diamonds through Special Notified Zones could help address the industry’s dependence on imported rough diamonds and strengthen India’s position as a global diamond trading hub.
The April-July performance indicates continued momentum in India’s value-added jewellery exports, even as the diamond and coloured gemstone segments face pressure.
