India’s gem and jewellery exports reach US$2.30 billion in August 2026 as value-added jewellery drives growth despite pressure on plain gold jewellery exports.
Key Highlights
- Gross gem and jewellery exports rose 3.14% to US$2.30 billion in August 2026.
- Studded gold jewellery exports surged 51.22% to US$642.85 million.
- Cut and polished diamond export volumes increased 3.23% to 13.36 lakh carats.
- Gold jewellery exports (plain + studded) grew 11.81% to US$999.83 million.
- Plain gold jewellery exports fell 23.90% amid elevated gold prices.
- Platinum jewellery exports rose 29.09%.
- Polished lab-grown diamond exports increased 28.45%.
- April–August 2026 exports reached US$11.47 billion, up 2.58% year on year.
India’s gem and jewellery industry maintained positive export momentum in August 2026, with gross exports rising 3.14% year-on-year to US$2.30 billion, driven by a sharp increase in value-added jewellery exports even as plain gold jewellery continued to face pressure from elevated gold prices.
The standout performer during the month was studded gold jewellery, with exports soaring 51.22% to US$642.85 million, signalling stronger international demand for finished jewellery and highlighting India’s growing focus on value addition across the manufacturing chain.
At the same time, cut and polished diamond exports showed early signs of recovery in volume terms, increasing from 12.94 lakh carats in August 2025 to 13.36 lakh carats in August 2026, although export values remained under pressure.
Overall, India’s gross gem and jewellery exports reached US$2.30 billion (₹21,945.87 crore) in August 2026, compared with US$2.23 billion (₹19,503.52 crore) during the same month last year.
Value-added jewellery leads export growth
The growing contribution of finished jewellery exports marks an important shift for India’s gem and jewellery ecosystem, with more diamonds being incorporated into jewellery within the country, creating higher value across the manufacturing chain while supporting employment and economic activity.
Shri Kirit Bhansali, Chairman, GJEPC, said:
“August’s export performance reflects the resilience and adaptability of India’s gem and jewellery industry. The increase in diamond export volumes, along with the sharp growth in studded gold jewellery exports, highlights India’s growing ability to create greater value by transforming precious materials into finished jewellery.
This marks an important step in India’s evolution from a major processing centre to a global hub for design, manufacturing and value addition. With continued policy support, innovation and access to international markets, India is well positioned to capture a larger share of value across the global jewellery supply chain.”
Plain gold jewellery remains under pressure
While overall jewellery exports strengthened, plain gold jewellery exports declined 23.90% in US dollar terms to US$356.97 million (₹3,408.32 crore).
According to GJEPC, the decline reflects elevated gold prices and the limited availability of duty-free gold for exporters, which increased input costs and affected the competitiveness of plain gold jewellery exports.
Gold prices also climbed sharply during the month, rising 8.27% month-on-month, from US$4,073.92 per troy ounce in July to US$4,410.89 per troy ounce in August.
April–August exports remain positive
For the April–August 2026 period, India’s overall gross gem and jewellery exports reached US$11.47 billion (₹109,023.88 crore), registering 2.58% growth in US dollar terms and 13.36% growth in rupee terms over the corresponding period last year, demonstrating resilience despite continued global economic uncertainties and higher precious metal prices.
August 2026: Product-wise Export Performance
- Gold Jewellery (Plain & Studded): Up 11.81% to US$999.83 million (₹9,546.12 crore), supported by demand from the USA, Hong Kong, Singapore, the UK and France.
- Plain Gold Jewellery: Down 23.90% to US$356.97 million (₹3,408.32 crore).
- Studded Gold Jewellery: Up 51.22% to US$642.85 million (₹6,137.81 crore), driven by demand from the USA, UAE, Hong Kong, the UK and France.
- Cut & Polished Diamonds: Down 4.93% in value to US$924.51 million (₹8,828.65 crore), while export volumes increased 3.23%.
- Silver Jewellery: Down 39.66% to US$86.68 million (₹827.20 crore).
- Platinum Jewellery: Up 29.09% to US$22.50 million (₹214.94 crore), led by demand from the USA, UK, the Netherlands and Canada.
- Polished Lab-Grown Diamonds: Up 28.45% to US$125.17 million (₹1,195.18 crore), supported by demand from Hong Kong, Israel, Thailand, Russia and Canada.
- Coloured Gemstones: Up 34.40% to US$49.07 million (₹468.78 crore), driven by demand from Thailand, Hong Kong, Italy and the USA.
April–August 2026: Product-wise Export Performance
During the first five months of the financial year, Gold Jewellery (Plain & Studded) exports increased 7.00% to US$5.03 billion.
- Plain Gold Jewellery: Down 11.44% to US$2.15 billion.
- Studded Gold Jewellery: Up 26.73% to US$2.88 billion.
- Cut & Polished Diamonds: Down 7.38% to US$4.52 billion.
- Silver Jewellery: Up 35.57% to US$594.86 million.
- Platinum Jewellery: Up 19.67% to US$100.32 million.
- Polished Lab-Grown Diamonds: Up 11.76% to US$533.67 million.
- Coloured Gemstones: Down 1.92% to US$152.61 million.
The August performance reinforces India’s continued transition towards higher-value jewellery manufacturing while highlighting encouraging signs of renewed demand in global diamond markets.
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