India’s Gem and Jewellery Exports Rise 34% to $2.92 Billion in October

India’s gem and jewellery exports increased 34.01% year-on-year to $2.92 billion (₹27,863 crore) in October 2026, compared with $2.18 billion in the same month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC). The growth was supported by stronger overseas demand ahead of Christmas and year-end celebrations, along with uninterrupted production in major manufacturing centres. Cumulative exports during April-October also rose 7.28% to $17.22 billion.

Gold jewellery led the growth, with exports increasing 48.20% year-on-year, while studded gold jewellery shipments recorded a stronger rise of 67.30%. Cut and polished diamond exports also returned to positive territory, growing 10.50% in October. Among key export destinations, the UAE remained the largest market with shipments worth $4.87 billion during April-October, followed by Hong Kong at $3.95 billion and the US at $3.61 billion. Canada recorded particularly strong growth of 107.93%.

GJEPC Chairman Kirit Bhansali said the industry’s recent performance was encouraging and indicated that exports could grow by around 10% in FY27 if the current momentum continues. He also highlighted the contribution of higher international gold prices to export values, alongside sustained overseas demand. However, the industry’s future growth will depend on global consumer spending, precious metal prices and demand across major international markets.

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