India's gem and jewellery exports registered a robust growth of 34.01% in US dollar terms and 44.71% in rupee terms in October 2026, reaching US$ 2.92 billion (Rs. 27,862.82 crore), compared to US$ 2.18 billion (Rs. 19,253.60 crore) in October 2025.

The strong October performance reflects the industry's continued export momentum and its efforts to meet international buyer requirements ahead of the year-end holiday season, one of the most important selling periods for jewellery markets across the United States, Europe and other key global destinations.

For the cumulative period April–October 2026, India's gross gem and jewellery exports reached US$ 17.22 billion (Rs. 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, while exports to the USA increased 14.87% to US$ 3.61 billion. Belgium registered strong growth of 30.02% to US$ 923.19 million, followed by Singapore (22.38%), the UK (17.89%) and Canada (107.93%). However, exports to the UAE, India's largest export destination, declined 10.27% to US$ 4.87 billion.

The October performance also needs to be viewed in the context of the differing festive calendars. Diwali fell in October last year, when manufacturing units across major jewellery centres observed their customary festive shutdowns. This year, with Diwali falling in November, October provided a longer operational window for manufacturers and exporters to complete production and dispatch orders ahead of the international holiday season.

Commenting on the export performance, 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

Cut & Polished Diamonds exports increased 10.50% in US dollar terms and 19.26% in rupee terms to US$ 1.13 billion (Rs. 10,817.54 crore).

Gold Jewellery (Plain & Studded) exports increased 48.20% in US dollar terms and 60.07% in rupee terms to US$ 1.26 billion (Rs. 12,017.78 crore), compared to US$ 848.95 million in October 2025.

Plain Gold Jewellery exports grew 17.54% in US dollar terms and 26.98% in rupee terms to US$ 383.11 million (Rs. 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 (Rs. 8,356.85 crore).

Silver Jewellery exports surged 55.52% in US dollar terms and 68.16% in rupee terms to US$ 203.83 million (Rs. 1,948.11 crore), compared to US$ 131.07 million in October 2025.

Polished Lab-Grown Diamonds exports registered an impressive growth of 81.02% in US dollar terms and 95.52% in rupee terms to US$ 170.46 million (Rs. 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 (Rs. 258.54 crore), compared to US$ 15.79 million in October 2025.

Platinum Jewellery exports grew 23.85% in US dollar terms and 33.86% in rupee terms to US$ 26.80 million (Rs. 255.97 crore), compared to US$ 21.64 million in October 2025.

April–October 2026

Cut & Polished Diamonds exports stood at US$ 6.95 billion, registering a decline of 4.50% in US dollar terms, while increasing 4.74% in rupee terms to (Rs. 66153.71 crores). Among the key markets, Belgium (29.07% to US$ 809.36 million), Canada (319% to US$ 225.30 million), the UK (20.56% to US$ 110.96 million) and Mexico (48.05% to US$ 63.71 million) recorded strong growth. However, declines in the UAE (12.26% to US$ 1.33 billion) and USA (29.92% to US$ 922.55 million) weighed on overall performance.

Gold Jewellery (Plain & Studded) exports increased 16.28% in US dollar terms and 27.81% in rupee terms to US$ 7.49 billion (Rs. 71314.72 crores). Growth was supported by strong demand from the USA (56.31% to US$ 2.03 billion), Hong Kong (132.71% to US$ 500.47 million), Singapore (25.67% to US$ 366.99 million), and the UK (38.18% to US$ 261.83 million).

Plain Gold Jewellery exports stood at US$ 2.92 billion, registering a decline of 5.96% in US dollar terms, while recording growth of 3.49% in rupee terms.

Studded Gold Jewellery exports registered strong growth of 36.98% in US dollar terms and 50.40% in rupee terms to US$ 4.57 billion (Rs. 43504.23 crores). The USA (60.51% to US$ 1.82 billion) and Hong Kong (150.46% to US$ 458.12 million) were major contributors, while Singapore (52.28% to US$ 85.09 million), the UK (25.12% to US$ 160.73 million) and Germany (21.88% to US$ 49.76 million) also recorded healthy growth.

Silver Jewellery exports grew 28.98% in US dollar terms and 40.57% in rupee terms to US$ 933.15 million (Rs. 8857.01 crores). Growth was led by Hong Kong (24.61% to US$ 492.45 million), the USA (51.28% to US$ 231.65 million) and Thailand (103.61% to US$ 45.29 million), with the UK (11.88% to US$ 47.90 million) and Australia (26.74% to US$ 15 million) 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 (Rs. 8150.09 crores). Hong Kong (114.72% to US$ 426.36 million) was the key growth driver, while Canada (301.07% to US$ 26.59 million), Thailand (96.22% to US$ 29.09 million), Israel (38.87% to US$ 29.35 million), Belgium (41.73% to US$ 23.08 million) and Russia (3,091.64% to US$ 12.76 million) also recorded significant increases.

Coloured Gemstones exports registered growth of 0.91% in US dollar terms and 10.45% in rupee terms to US$ 254.62 million (Rs. 2421.76 crores). Growth was supported by Thailand (14.40% to US$ 77.22 million), the USA (17.97% to US$ 28.38 million), the UAE (47.65% to US$ 14.53 million) and Italy (19.14% to US$ 11.27 million), despite a decline in exports to Hong Kong (13.40% to US$ 78.28 million).

Platinum Jewellery exports grew 17.12% in US dollar terms and 28.34% in rupee terms to US$ 150.09 million (Rs. 1428.72 crores).

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.

Courtesy: AOJ DESK NEWS