India’s gem and jewellery exports rose 2.44% year-on-year in dollar terms to $9.17 billion during April–July 2026, indicating modest growth despite continued weakness in diamond shipments.
The performance was supported by stronger demand for several value-added jewellery categories, which helped offset pressure on traditional diamond exports. The sector has been navigating volatile global demand, changing tariff conditions and geopolitical uncertainties.
In July alone, India’s gross gem and jewellery exports increased marginally by 0.38% to $2.35 billion, compared with $2.34 billion in the same month a year earlier.
The export performance comes after a challenging FY2025-26, when India’s overall gem and jewellery exports declined 3.32% in dollar terms to $27.72 billion. Cut and polished diamond exports were particularly weak, falling 8.52% during the financial year.
Industry exporters are increasingly focusing on market diversification and higher-value products to reduce their dependence on traditional markets and segments. The UAE, Hong Kong, Australia and Canada have emerged as important destinations as Indian companies seek new opportunities.
The government and the Gem & Jewellery Export Promotion Council (GJEPC) are also encouraging exporters to make greater use of free trade agreements and preferential market access. The Department of Commerce has highlighted the significant untapped opportunity in FTA partner markets, which collectively import more than $55 billion of jewellery annually.
The latest growth suggests that India’s jewellery export sector is showing resilience, although sustained recovery will depend on global demand, diamond-market conditions and improved access to key international markets.