India's gross gem and jewellery exports climbed 2.44 per cent in US dollar terms to $9.17 billion during April–July 2026, driven by robust demand in value-added segments including studded gold and silver jewellery, according to data released by the Gem and Jewellery Export Promotion Council (GJEPC) on 13 August 2026. In rupee terms, the sector posted an even sharper rise of 13.58 per cent to ₹87,078.01 crore over the same four-month period compared with the year-ago period.

Value-Added Segments Drive Growth

Studded gold jewellery was the standout performer, with exports surging 21.09 per cent to $2.24 billion. Silver jewellery posted the sharpest jump in the basket, rising 72.19 per cent to $508.18 million. Platinum jewellery exports advanced 17.20 per cent to $77.82 million, while polished lab-grown diamond exports grew 7.47 per cent to $408.50 million. Overall gold jewellery exports — covering both plain and studded categories — expanded 5.87 per cent to $4.03 billion.

Weak Spots: Diamonds and Plain Gold

Not all segments shared in the gains. Cut and polished diamond exports fell 8 per cent to $3.60 billion, continuing a trend of pressure on the natural-diamond processing trade amid shifting global preferences. Plain gold jewellery exports also contracted, declining 8.46 per cent to $1.80 billion. These two categories remain the sector's largest by volume, meaning their underperformance partly offset the strong gains posted elsewhere.

Key Demand Markets

According to GJEPC data, growth was anchored by strong demand from the United States, Singapore, Hong Kong, and the United Kingdom. The US in particular has emerged as a critical destination for Indian value-added jewellery, as buyers there shift toward finished, design-led pieces over raw or semi-processed stones. This comes amid broader global uncertainty around trade tariffs and currency fluctuations that have made some markets more cautious.

What the GJEPC Said

GJEPC Chairman Kirit Bhansali said the sector had demonstrated resilience despite a challenging global environment, with value-added segments leading export growth. He noted that easing gold prices could support demand in key consuming markets in the months ahead. Bhansali also expressed optimism that business generated at IIJS Bharat Premiere 2026 — which drew more than 61,000 visitors, including over 5,000 international visitors from 80 countries — would translate into actual shipments in the coming quarters.

Diamond Trading Hub Ambition

On the Taxation and Other Laws (Amendment) Bill, 2026, Bhansali said the proposed 15-year income tax exemption for foreign companies trading rough diamonds through Special Notified Zones could catalyse a structural shift for India — from a diamond processing centre to a global diamond trading hub. The move, if implemented effectively, could attract international diamond traders currently based in Antwerp and Dubai, positioning India more centrally in the global diamond value chain. The sector will be watching closely for implementation details in the months ahead.