For the cumulative period April\u2013October 2026, India’s gross gem and jewellery exports reached US$ 17.22 billion (Rs. 1,63,961.74 crore), registering growth of 7.28% in US dollar terms and 17.76% in rupee terms over the corresponding period last year, when exports stood at US$ 16.05 billion. Among India’s key export destinations<\/strong>, Hong Kong recorded growth of 18.80% during April\u2013October 2026, with exports reaching US$ 3.95 billion, while exports to the USA increased 14.87% to US$ 3.61 billion. Belgium registered strong growth of 30.02% to US$ 923.19 million, followed by Singapore (22.38%), the UK (17.89%) and Canada (107.93%). However, exports to the UAE, India’s largest export destination, declined 10.27% to US$ 4.87 billion.<\/p>\n The October performance also needs to be viewed in the context of the differing festive calendars. Diwali fell in October last year, when manufacturing units across major jewellery centres observed their customary festive shutdowns. This year, with Diwali falling in November, October provided a longer operational window for manufacturers and exporters to complete production and dispatch orders ahead of the international holiday season.<\/p>\n Commenting on the export performance, Kirit Bhansali, Chairman, GJEPC<\/strong>, said, \u201cThe 34% growth in gem and jewellery exports in October is an encouraging indicator of the industry’s resilience and its ability to respond to opportunities in international markets. The strong performance comes at an important time, as global retailers and buyers prepare for the year-end holiday season, which traditionally drives significant demand for jewellery across major markets.<\/p>\n \u201cOn a cumulative basis, the 7.28% growth in exports during April\u2013October is encouraging. It is particularly heartening to see exports to the US market register 14.87% growth during this period. We have witnessed consistent growth over the past three months, and if the current momentum continues without any major disruptions, we are optimistic about achieving 10% growth in exports by the end of FY 2026\u201327.\u201d<\/strong><\/p>\n \u201cCut and polished diamond exports have returned to positive growth, registering a 10.50% increase in October. This is an encouraging indication that momentum is gradually returning to the global diamond trade. Industry feedback points to improved trading activity, stronger order flows and renewed buying interest across key markets, while polished diamond prices have also shown signs of firming in recent months.<\/p>\n \u201cOn a cumulative basis, cut and polished diamond exports during April\u2013October declined 4.50% in US dollar terms, although the pace of decline has moderated, with greater stability in polished diamond prices offering an encouraging sign for the segment.<\/p>\n \u201cGold jewellery has been a particularly strong contributor, with exports growing 48.20% in October and studded gold jewellery registering an impressive 67.30% growth. This performance reflects the combined impact of higher international gold prices and sustained demand for Indian-made jewellery in key global markets. While rising gold prices have contributed to higher export values, the growth also points to continued business activity and buyer interest.<\/p>\n \u201cSilver jewellery exports grew 28.98% during April\u2013October, reflecting sustained international demand. While higher silver prices have boosted export values, they have also increased raw material and working capital costs, making buyers more cautious about order quantities. Manufacturers are responding with lightweight designs and value engineering. India’s strengths in design, craftsmanship and manufacturing continue to support the segment’s competitiveness.\u201d<\/p>\n \u201cThe international holiday season presents an important opportunity for Indian exporters. Our industry has been actively engaging with global buyers, developing new collections and strengthening its market presence. With improving trade access through India’s Free Trade Agreements and continued efforts towards market diversification, we remain optimistic about the sector’s export prospects in the months ahead.<\/p>\n \u201cMonthly export figures also reflect the timing of production cycles, festive holidays and shipment schedules across manufacturing centres. As the industry moves through the Diwali period, we will continue to engage with exporters to assess market demand and the evolving export outlook.\u201d<\/p>\n Dinesh Lakhani, Managing Director, Kiran Gems<\/strong>, said, \u201cOctober\u2019s performance indicates that momentum is returning to the global diamond trade. Improved trading activity, stronger order flows and renewed buying interest across key markets, alongside firming polished diamond prices, point to a gradual recovery. A strong festive-season performance and healthy consumer sell-through across the US, Europe, the Middle East and South Asia could provide further impetus to demand in the coming months.<\/p>\n \u201cExport trends across markets also reflect changing trade flows and geopolitical developments. Disruptions to UAE trading activity earlier this year led to a redistribution of business towards Hong Kong and Antwerp, contributing to stronger growth in Hong Kong and Belgium. The UAE\u2019s performance also reflects a high base from last year. As regional conditions normalise, we expect the Middle East to regain momentum as an important trading hub.<\/p>\n \u201cIn the US, last year\u2019s front-loading of shipments ahead of anticipated tariff changes has influenced the comparison. Indian polished diamonds also continue to face a tariff disadvantage against European-origin goods, affecting sourcing decisions. However, underlying US consumer demand remains resilient. Progress towards an India-US trade agreement that addresses this differential could improve the competitiveness of Indian diamonds and open up further opportunities.<\/p>\n \u201cLooking ahead, Hong Kong and Belgium should remain important contributors, while a recovery in UAE trade, sustained US demand and seasonal buying across major consumer markets could support India\u2019s polished diamond exports. We see scope for improved performance in the months ahead.\u201d<\/p>\n Vijaykumar Mangukiya, Convener, Studded Jewellery Panel, GJEPC<\/strong>, said, \u201cThe 48.2% growth in gold jewellery exports in October is encouraging, reflecting higher international gold prices, improved export values and continued demand for Indian-made jewellery. However, higher export values should not automatically be equated with higher physical volumes. Shipment weights and quantities need to be examined to establish actual volume growth.<\/p>\n \u201cGlobal demand remains healthy, although buyer behaviour is changing. With customers becoming more conscious of gold prices, retailers are focusing on inventory management, faster stock rotation and designs offering better value. Buyers increasingly prefer smaller, more frequent orders and flexibility in product selection over large speculative purchases.<\/p>\n \u201cThe US remains an important market, with buyers placing greater emphasis on manufacturing capabilities, product quality, reliability, delivery timelines and customised designs. Hong Kong\u2019s performance also underlines its importance as an international jewellery trading and distribution hub.<\/p>\n \u201cTariffs and geopolitical developments are prompting buyers to diversify sourcing networks. This presents an opportunity for Indian manufacturers to strengthen their position through competitive pricing, consistent quality, transparency and dependable delivery.<\/p>\n \u201cGoing forward, India\u2019s export competitiveness will depend on manufacturing excellence, design innovation, technology and the ability to deliver customised jewellery within shorter timelines. With its skilled workforce and manufacturing infrastructure, India is well placed to become a preferred global sourcing destination for quality, innovation and reliability.\u201d<\/p>\n October 2026<\/strong><\/p>\n April\u2013October 2026<\/strong><\/p>\n The performance across product categories highlights the growing contribution of value-added jewellery segments to India’s export basket. In particular, the sustained growth in studded gold jewellery, silver jewellery and polished lab-grown diamonds is helping support the sector’s overall export performance.<\/p>\n","protected":false},"excerpt":{"rendered":" India’s gem and jewellery exports registered a robust growth of 34.01% in US dollar terms and 44.71% in rupee terms in October 2026, reaching US$ 2.92 billion (Rs. 27,862.82 crore), compared to US$ 2.18 billion (Rs. 19,253.60 crore) in October 2025. The strong October performance reflects the industry’s continued export momentum and its efforts to…<\/p>\n","protected":false},"author":1,"featured_media":38872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-38870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n![\"\"](\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2026\/11\/oct.jpg\")
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