India's jewelry exports jump 34% to nearly $3B in October
What's the story
India's gem and jewelry sector has seen a massive jump of 34.01% year-on-year in October, hitting $2.92 billion. The growth is largely attributed to strong international demand for gold jewelry, silver jewelry, and lab-grown diamonds ahead of the Christmas and year-end holiday shopping season. In rupee terms, shipments increased by an impressive 44.71% to ₹27,862.82 crore from ₹19,253.60 crore last year.
Export surge
Gold jewelry exports were the main contributor to growth
Gold jewelry exports were the main contributor to this growth, increasing by 48.20% to $1.26 billion in October.
Within this category, studded gold jewelry exports surged by an impressive 67.3% to $875.02 million while plain gold jewelry shipments also rose by a healthy 17.54% to $383.11 million.
Silver jewelry and polished lab-grown diamond exports also saw significant increases of 55.52% and 81.02%, respectively, during the month under review.
Market rebound
Cut and polished diamond exports show recovery
Cut and polished diamond exports, which were under pressure earlier, have shown some recovery with a 10.5% increase to $1.13 billion in October. This indicates a revival in global trading activity for these precious stones.
Kirit Bhansali, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC), called this growth "an encouraging indicator of the industry's resilience and its ability to respond to opportunities in international markets."
Overall performance
Cumulative exports from April to October remain modest
Despite the October surge, cumulative exports from April to October 2026 remained modest with a 7.28% increase in dollar terms to $17.22 billion.
Among key markets, Hong Kong saw an 18.80% rise in exports to $3.95 billion while the US witnessed a 14.87% increase at $3.61 billion during this period under review.
However, shipments to India's largest export destination UAE fell by 10.27% at $4.87 billion.