Gold jewellery exports rise 48.20%, studded gold jewellery grows 67.30%, while polished lab-grown diamond exports record 81.02% growth.
Key highlights
- 34.01% growth: India’s gross gem and jewellery exports reached US$2.92 billion in October 2026, compared with US$2.18 billion in October 2025.
- 44.71% growth in rupee terms: October exports totalled ₹27,862.82 crore.
- Gold jewellery exports: Increased 48.20%, with studded gold jewellery recording 67.30% growth.
- Silver jewellery exports: Rose 55.52% in October.
- Polished lab-grown diamonds: Recorded 81.02% growth in October.
- Cut and polished diamonds: Returned to positive growth, increasing 10.50% in October, although cumulative April–October exports declined 4.50%.
- Cumulative exports: Reached US$17.22 billion during April–October 2026, registering 7.28% growth in US dollar terms.
- Export outlook: GJEPC remains optimistic about achieving 10% export growth by the end of FY 2026–27, provided current momentum continues without major disruptions.
Important export data at a glance
October 2026 product-wise performance
| Product category | Growth in US dollar terms |
|---|---|
| Cut & polished diamonds | +10.50% |
| Gold jewellery – plain & studded | +48.20% |
| Plain gold jewellery | +17.54% |
| Studded gold jewellery | +67.30% |
| Silver jewellery | +55.52% |
| Polished lab-grown diamonds | +81.02% |
| Coloured gemstones | +71.46% |
| Platinum jewellery | +23.85% |
April–October 2026 cumulative performance
| Product category | Growth / decline in US dollar terms |
|---|---|
| Cut & polished diamonds | -4.50% |
| Gold jewellery – plain & studded | +16.28% |
| Plain gold jewellery | -5.96% |
| Studded gold jewellery | +36.98% |
| Silver jewellery | +28.98% |
| Polished lab-grown diamonds | +25.95% |
| Coloured gemstones | +0.91% |
| Platinum jewellery | +17.12% |
Source: GJEPC press release dated 12 November 2026. Growth rates are year-on-year comparisons for the respective reporting periods.
India’s gross gem and jewellery exports registered a strong growth of 34.01% in US dollar terms and 44.71% in rupee terms in October 2026, reaching US$2.92 billion (₹27,862.82 crore), compared with US$2.18 billion (₹19,253.60 crore) in October 2025, according to data released by the Gem & Jewellery Export Promotion Council (GJEPC).
The strong October performance reflects the industry’s continued export activity and efforts to meet international buyer requirements ahead of the year-end holiday shopping season, one of the most important selling periods for jewellery markets across the United States, Europe and other key global destinations.
The growth was broad-based across several product categories. Gold jewellery exports increased 48.20% in US dollar terms, with studded gold jewellery recording particularly strong growth of 67.30%. Silver jewellery exports rose 55.52%, while polished lab-grown diamond exports increased 81.02%. Cut and polished diamond exports also returned to positive growth, registering a 10.50% increase during the month.
However, GJEPC has noted that October’s year-on-year performance was also supported by a favourable base effect. Diwali-related manufacturing shutdowns took place in October last year, whereas this year’s festive break falls in November. This provided manufacturers and exporters with a longer operational window in October 2026 to complete production and dispatch orders ahead of the international holiday season.
April–October 2026: Cumulative exports register 7.28% growth
For the cumulative period April–October 2026, India’s gross gem and jewellery exports reached US$17.22 billion (₹1,63,961.74 crore), registering growth of 7.28% in US dollar terms and 17.76% in rupee terms over the corresponding period last year, when exports stood at US$16.05 billion.
Among India’s key export destinations, Hong Kong recorded growth of 18.80% during April–October 2026, with exports reaching US$3.95 billion. Exports to the United States increased 14.87% to US$3.61 billion, while Belgium registered growth of 30.02% to US$923.19 million.
Other markets recording growth included Singapore (22.38%), the United Kingdom (17.89%) and Canada (107.93%). However, exports to the UAE, India’s largest export destination, declined 10.27% to US$4.87 billion.
Kirit Bhansali highlights export momentum and improving diamond trade activity
Commenting on the export performance, Shri Kirit Bhansali, Chairman, GJEPC, said:
“The 34% growth in gem and jewellery exports in October is an encouraging indicator of the industry’s resilience and its ability to respond to opportunities in international markets. The strong performance comes at an important time, as global retailers and buyers prepare for the year-end holiday season, which traditionally drives significant demand for jewellery across major markets.
“On a cumulative basis, the 7.28% growth in exports during April–October is encouraging. It is particularly heartening to see exports to the US market register 14.87% growth during this period. We have witnessed consistent growth over the past three months, and if the current momentum continues without any major disruptions, we are optimistic about achieving 10% growth in exports by the end of FY 2026–27.”
“Cut and polished diamond exports have returned to positive growth, registering a 10.50% increase in October. This is an encouraging indication that momentum is gradually returning to the global diamond trade. Industry feedback points to improved trading activity, stronger order flows and renewed buying interest across key markets, while polished diamond prices have also shown signs of firming in recent months.
“On a cumulative basis, cut and polished diamond exports during April–October declined 4.50% in US dollar terms, although the pace of decline has moderated, with greater stability in polished diamond prices offering an encouraging sign for the segment.
“Gold jewellery has been a particularly strong contributor, with exports growing 48.20% in October and studded gold jewellery registering an impressive 67.30% growth. This performance reflects the combined impact of higher international gold prices and sustained demand for Indian-made jewellery in key global markets. While rising gold prices have contributed to higher export values, the growth also points to continued business activity and buyer interest.
“Silver jewellery exports grew 28.98% during April–October, reflecting sustained international demand. While higher silver prices have boosted export values, they have also increased raw material and working capital costs, making buyers more cautious about order quantities. Manufacturers are responding with lightweight designs and value engineering. India’s strengths in design, craftsmanship and manufacturing continue to support the segment’s competitiveness.”
“The international holiday season presents an important opportunity for Indian exporters. Our industry has been actively engaging with global buyers, developing new collections and strengthening its market presence. With improving trade access through India’s Free Trade Agreements and continued efforts towards market diversification, we remain optimistic about the sector’s export prospects in the months ahead.
“Monthly export figures also reflect the timing of production cycles, festive holidays and shipment schedules across manufacturing centres. As the industry moves through the Diwali period, we will continue to engage with exporters to assess market demand and the evolving export outlook.”
October 2026: Product-wise export performance
The October figures show strong growth across several major product categories:
- Cut and polished diamonds: Exports increased 10.50% in US dollar terms and 19.26% in rupee terms to US$1.13 billion (₹10,817.54 crore).
- Gold jewellery (plain and studded): Exports increased 48.20% in US dollar terms and 60.07% in rupee terms to US$1.26 billion (₹12,017.78 crore).
- Plain gold jewellery: Exports grew 17.54% in US dollar terms and 26.98% in rupee terms to US$383.11 million (₹3,660.92 crore).
- Studded gold jewellery: Exports surged 67.30% in US dollar terms and 80.69% in rupee terms to US$875.02 million (₹8,356.85 crore).
- Silver jewellery: Exports increased 55.52% in US dollar terms and 68.16% in rupee terms to US$203.83 million (₹1,948.11 crore).
- Polished lab-grown diamonds: Exports registered growth of 81.02% in US dollar terms and 95.52% in rupee terms to US$170.46 million (₹1,627.94 crore).
- Coloured gemstones: Exports increased 71.46% in US dollar terms and 85.19% in rupee terms to US$27.07 million (₹258.54 crore).
- Platinum jewellery: Exports grew 23.85% in US dollar terms and 33.86% in rupee terms to US$26.80 million (₹255.97 crore).
April–October 2026: Segment-wise trends and key markets
The cumulative export performance presents a more differentiated picture across product categories.
Cut and polished diamonds
Exports stood at US$6.95 billion, registering a decline of 4.50% in US dollar terms, although they increased 4.74% in rupee terms. Belgium, Canada, the UK and Mexico recorded growth, while declines in the UAE and the USA weighed on overall performance.
Gold jewellery
Plain and studded gold jewellery exports increased 16.28% in US dollar terms and 27.81% in rupee terms to US$7.49 billion. Growth was supported by demand from the USA, Hong Kong, Singapore and the UK.
Within this category, plain gold jewellery exports stood at US$2.92 billion, declining 5.96% in US dollar terms while recording growth of 3.49% in rupee terms.
Studded gold jewellery exports registered growth of 36.98% in US dollar terms and 50.40% in rupee terms to US$4.57 billion. The USA and Hong Kong were major contributors to this performance.
Silver jewellery
Exports grew 28.98% in US dollar terms and 40.57% in rupee terms to US$933.15 million. Growth was led by Hong Kong, the USA and Thailand, with the UK and Australia also contributing positively.
Polished lab-grown diamonds
Exports increased 25.95% in US dollar terms and 38.27% in rupee terms to US$855.56 million. Hong Kong was the key growth driver, while Canada, Thailand, Israel, Belgium and Russia also recorded increases.
Coloured gemstones
Exports registered growth of 0.91% in US dollar terms and 10.45% in rupee terms to US$254.62 million. Growth was supported by Thailand, the USA, the UAE and Italy, despite a decline in exports to Hong Kong.
Platinum jewellery
Exports grew 17.12% in US dollar terms and 28.34% in rupee terms to US$150.09 million.
Value-added jewellery segments support export performance
The performance across product categories highlights the growing contribution of value-added jewellery segments to India’s export basket. In particular, the sustained growth in studded gold jewellery, silver jewellery and polished lab-grown diamonds is helping support the sector’s overall export performance.
With the year-end holiday season underway and global buyers preparing for one of the industry’s important selling periods, GJEPC remains optimistic about India’s export prospects in the coming months. The Council will continue to engage with exporters to assess market demand and the evolving export outlook.
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