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India's gem and jewellery exports rose 3.14% in USD terms in August 2026, touching USD 2.30 billion against USD 2.23 billion in the same month last year. The Gem and Jewellery Export Promotion Council released the figures on Saturday. I
In rupee terms, exports grew 12.52% year-on-year to Rs. 21,945.87 crore. Studded gold jewellery led the growth, with shipments jumping 51.22% to USD 642.85 million. Demand from the US, Hong Kong, Singapore, the UK and France pushed this segment higher, even as the broader industry continues to work through a tough stretch caused by steep US tariffs.
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Plain gold jewellery told a different story, with exports falling 23.90% to USD 356.97 million. Rising gold prices and limited access to duty-free gold for exporters made these shipments less competitive. Gold prices climbed 8.27% month-on-month in August, moving from USD 4,073.92 per ounce in July to USD 4,410.89 per ounce.
Cut and polished diamond exports also dipped 4.93% in value terms to USD 924.51 million, though the volume shipped actually grew 3.23% to 13.36 lakh carats, up from 12.94 lakh carats a year earlier. This gap between value and volume points to weaker prices per carat rather than a real drop in demand.
JEPC chairman Kirit Bhansali said the month's numbers reflect the resilience and adaptability of the sector. He added that the shift towards finished jewellery marks a meaningful step in the country's move from a processing hub to a centre for design and value addition.
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For the April to August period, India's overall gem and jewellery exports reached USD 11.47 billion, a growth of 2.58% in dollar terms over the same period last year.
The sector spent more than a year adjusting to reduced demand from the US, its traditional top market, and exporters have been building fresh buyer bases across Asia and the Middle East. The rise in studded jewellery suggests Indian manufacturers are gradually moving up the value chain instead of relying only on raw or lightly processed exports.
