As the auspicious festival of Akshaya Tritiya concludes, the Indian bullion and jewellery market has witnessed a significant shift in consumer behaviour, marked by recordbreaking value sales despite a sharp rise in precious metal prices compared to the previous year. Industry data released today highlights a fascinating trend: while the volume of gold sold has increased moderately, the total market value has more than doubled, reflecting the aggressive rally in gold prices over the last twelve months.

India’s gem and jewellery exports stood at $27.72 billion (Rs 2.44 lakh crore approx) in FY 2025-26, a 3.32% decline, amid global headwinds and tariff uncertainties, according to the Gem and Jewellery Export Promotion Council (GJEPC).

The performance comes amid a year marked by geopolitical uncertainties, evolving US tariff regimes, and emerging tensions in West Asia, yet underscores a deeper transformation underway in India’s gem and jewellery export landscape.