India Gem and Jewellery Exports Rise to $14.3 Billion

India's gross gem and jewellery exports reached $14.30 billion between April and September 2026, marking a 3.07% increase in US dollar terms. Performance accelerated in September 2026, with exports growing 9.43% year-on-year to $2.95 billion.

The Gem and Jewellery Export Promotion Council attributed the growth to strong demand for silver jewellery, polished lab-grown diamonds, and studded gold jewellery, the latter of which surged 31.31% to $3.69 billion. These gains were supported by improved trade access under the India–UK trade agreement, reduced US tariffs, and anticipation of the global holiday season and domestic festive demand.

Conversely, plain gold jewellery exports fell 8.81% to $2.53 billion, a decline driven by a 31.17% spike in gold prices and difficult market conditions in the Middle East. Cut and polished diamonds showed a mixed recovery; while their US dollar value declined by 6.96%, export volumes rose 4.64% to 83.98 lakh carats, suggesting lower realization per carat rather than a drop in demand.