India’s gem and jewellery exports increased by 9.43% year-on-year to US$ 2.95 billion in September 2026, supported by strong demand for studded gold jewellery and polished lab-grown diamonds. However, declining natural diamond export values and pressure on plain gold jewellery exports highlight the uneven recovery across product segments.
According to data from the Gem & Jewellery Export Promotion Council (GJEPC), India’s gross gem and jewellery exports reached Rs. 28,157.55 crore (US$ 2.95 billion) in September 2026, compared with Rs. 23,813.91 crore (US$ 2.70 billion) in September 2025.
For the April–September period of FY 2026–27, cumulative exports grew 3.07% in US dollar terms to US$ 14.30 billion, while exports in rupee terms increased 13.40% to approximately Rs. 1.36 lakh crore. The figures point to continued export growth despite global trade uncertainty and elevated gold prices.
Key Figures: India’s Gem and Jewellery Exports
- September 2026 exports: US$ 2.95 billion, up 9.43% year-on-year.
- April–September exports: US$ 14.30 billion, up 3.07% year-on-year.
- Studded gold jewellery: Exports rose 31.31% during April–September to US$ 3.69 billion.
- Polished lab-grown diamonds: Exports increased 17.08% to US$ 685.10 million during the six-month period.
- Silver jewellery: Exports grew 23.10% to US$ 729.32 million during April–September.
- Cut and polished natural diamonds: Export value declined 6.96% to US$ 5.81 billion, despite higher shipment volumes.
- Plain gold jewellery: Export value fell 8.81% to US$ 2.53 billion during the six-month period.
Product-Wise Export Performance: April–September 2026
India’s export performance varied significantly by product category. Studded gold jewellery and silver jewellery recorded strong gains, while plain gold jewellery and natural diamonds faced value-related pressures.
Product category
Export value
Year-on-year change
Studded gold jewellery
US$ 3.69 billion
31.31%
Plain gold jewellery
US$ 2.53 billion
-8.81%
Cut and polished diamonds
US$ 5.81 billion
-6.96%
Polished lab-grown diamonds
US$ 685.10 million
17.08%
Silver jewellery
US$ 729.32 million
23.10%
Source: GJEPC figures reported for April–September 2026. Growth rates are in US dollar terms.
Studded Gold Jewellery Leads Export Growth
Studded gold jewellery emerged as a major growth driver for India’s gem and jewellery exports during the first half of FY 2026–27. Exports increased 31.31% year-on-year to US$ 3.69 billion.
Improved trade access under the India–UK trade agreement, reduced US tariffs and stronger performance in markets such as Hong Kong, Singapore and France supported the segment’s growth, according to GJEPC Chairman Kirit Bhansali.
The performance highlights the importance of value-added jewellery products in India’s export mix. Manufacturers and exporters may find opportunities in international markets where demand for design-led and differentiated jewellery remains strong.
High Gold Prices Weigh on Plain Gold Jewellery
Plain gold jewellery exports declined 8.81% year-on-year to US$ 2.53 billion during April–September 2026.
Higher gold prices and challenging demand conditions in the Middle East contributed to the decline. Rising raw material costs can put pressure on consumer affordability, order volumes and exporters’ margins.
The contrast between plain and studded gold jewellery exports indicates that product mix, pricing and market demand are important factors shaping India’s jewellery export performance.
Natural Diamonds Face Value Pressure Despite Higher Volumes
India’s cut and polished diamond exports reached US$ 5.81 billion during April–September 2026, declining 6.96% in US dollar terms. However, export volumes increased 4.64% to 83.98 lakh carats.
The divergence between volume and value suggests that higher shipments have not yet translated into equivalent export revenue growth. Pricing conditions therefore remain important for diamond processors, exporters and international buyers.
Lab-Grown Diamonds and Silver Jewellery Record Strong Growth
Polished lab-grown diamond exports increased 17.08% year-on-year to US$ 685.10 million during April–September 2026.
Silver jewellery exports also performed well, rising 23.10% to US$ 729.32 million. These results demonstrate the growing contribution of alternative jewellery categories alongside traditional gold and natural diamond products.
Product innovation, differentiated designs and diversification across international markets could help exporters respond to changing buyer preferences and reduce dependence on individual product segments.
What the Export Trends Mean for Freight and Logistics
India’s gem and jewellery export performance is relevant to freight forwarders, air cargo operators, customs brokers and specialist logistics providers handling high-value shipments.
The changing product mix and continued export growth create several areas to watch:
- High-value air cargo: Precious jewellery and diamonds require secure handling, appropriate insurance and reliable international transport.
- Customs documentation: Accurate commercial invoices, packing lists, export declarations and supporting documentation are essential for compliant shipments.
- Trade agreement compliance: Exporters and customs brokers need to assess applicable rules of origin, tariff treatment and destination-country requirements.
- Shipment visibility: Timely tracking and exception alerts can help exporters manage delays and coordinate deliveries with overseas buyers.
- Market diversification: Stronger demand across multiple destinations can create opportunities for freight providers serving India’s export clusters and international trade lanes.
These are potential logistics implications of the reported export trends, rather than separately measured changes in freight volumes.
How Jewellery Export Growth Can Create Logistics Opportunities
Frequently Asked Questions
How much were India’s gem and jewellery exports in September 2026?
India’s gross gem and jewellery exports reached US$ 2.95 billion in September 2026, representing a 9.43% increase compared with September 2025.
What was India’s total gem and jewellery export value during April–September 2026?
Cumulative exports reached US$ 14.30 billion during April–September 2026, up 3.07% year-on-year in US dollar terms.
Which jewellery category recorded the strongest growth?
Studded gold jewellery recorded strong growth, with exports rising 31.31% to US$ 3.69 billion during April–September 2026.
Why did plain gold jewellery exports decline?
Plain gold jewellery exports fell 8.81% to US$ 2.53 billion during the six-month period. Higher gold prices and challenging demand conditions in the Middle East were among the factors affecting performance.
How could jewellery export growth affect India's logistics sector?
Continued export activity can support demand for secure air cargo, specialist freight forwarding, customs clearance, export documentation and shipment tracking services. The actual impact will depend on shipment volumes, destination markets and transport choices.
Conclusion
India’s gem and jewellery exports maintained positive momentum in September 2026, led by studded gold jewellery and polished lab-grown diamonds. However, declining natural diamond export values and weaker plain gold jewellery exports show that the recovery remains uneven across product categories.
For exporters and logistics providers, monitoring trade agreements, international demand, gold prices and destination-market performance will be important in identifying future opportunities in high-value cargo and cross-border trade.
