India Jewellery Exports Rise to $9.17B Driven by Gold & Silver

India’s gem and jewellery exports increased by 2.44% in dollar terms, reaching $9.17 billion during the first four months of fiscal year 2027, spanning April to July 2026. This growth, which translated to a 13.58% rise in rupee terms, totaled ₹87,078.01 crore, primarily propelled by a strategic shift towards higher value-added jewellery segments.

Key Export Figures

• Studded gold jewellery exports surged by 21.09% to $2.24 billion.
• Silver jewellery exports experienced a significant jump of 72.19% to $508.18 million.
• Platinum jewellery exports also grew by 17.20% to $77.82 million.
• Polished lab-grown diamond exports increased by 7.47% to $408.50 million.

In contrast, the traditional diamond trade continued to face headwinds during the same period. Cut and polished diamond exports declined by 8%, totaling $3.60 billion, while plain gold jewellery exports also saw a decrease of 8.46% to $1.80 billion.

July Performance Divergence

The divergence between jewellery and diamond exports became even more pronounced in July 2026. While overall gem and jewellery exports remained largely flat, studded gold jewellery exports climbed 21.36% to $569.44 million.

• Cut and polished diamond exports fell 18.23% year-on-year to $876.39 million in July 2026.
• Gold prices eased by 3.88% in July, a factor expected to further bolster demand in key markets.

Kirit Bhansali, chairman of the GJEPC, highlighted the industry’s resilience despite a challenging global environment. He attributed the sector’s growth to its focus on value-added segments, a strategy proving effective amidst market shifts.

The industry also anticipates a boost from orders generated at the IIJS Bharat Premiere 2026 trade show. Furthermore, the new Taxation and Other Laws Amendment Bill 2026 is poised to transform India’s role in the global diamond market.

This bill grants a 15-year income tax exemption to foreign companies trading rough diamonds in Special Notified Zones. This legislative change is expected to transition India from primarily a diamond processing hub into a significant global diamond trading center.