• H1 FY2026–27 Performance: Exports Reach US$ 14.30 Billion, Up 3.07% Year-on Year 

• Plain Gold Jewellery exports declined 8.81% in US dollar terms to US$ 2.53 billion in  H1 FY2026–27, amid continuing market challenges in the Middle East, a key export  destination. 

• Studded Gold Jewellery exports grew 31.31% in US dollar terms to US$ 3.69 billion,  supported by improved market access through FTAs, reduced US tariffs, and strong  performance in key markets such as Hong Kong, Singapore and France. 

• Cut & Polished Diamonds exports stood at US$ 5.81 billion, declined 6.96% during  April–September 2026, while export volumes rose 4.64% to 83.98 lakh carats from  80.26 lakh carats for the same period last year. Diamond prices are showing signs of  improvement, with the decline in export value showing signs of tapering. 

• Polished Lab-Grown Diamonds exports increased 17.08% in US dollar terms to US$  685.10 million during April–September 2026, with steady prices supporting positive  export performance. 

• Silver Jewellery exports grew 23.10% in US dollar terms and 34.36% in rupee terms  to US$ 729.32 million (Rs. 6,908.90 crore) during April–September 2026, supported  by rising demand for higher-value, design-led pieces in key international markets. 

India’s gem and jewellery exports continued their growth  trajectory in September 2026, with gross exports rising 9.43% in US dollar terms and  18.24% in rupee terms year-on-year to US$ 2.95 billion (Rs. 28,157.55 crore), compared to  US$ 2.70 billion (Rs. 23,813.91 crore) in September 2025. 

For April–September 2026, India’s gross gem and jewellery exports reached US$ 14.30  billion (Rs. 136,068.27 crore), registering growth of 3.07% in US dollar terms and 13.40% in  rupee terms over the corresponding period last year. The performance reflects continued  export growth despite global uncertainties, with strong gains in studded gold jewellery,  silver jewellery and polished lab-grown diamonds helping support the sector.

Commenting on the export performance, Kirit Bhansali, Chairman, GJEPC, said:

“The 9.43% growth in exports in September and the 3.07% increase during the first half of  FY2026–27 are encouraging, demonstrating that India’s gem and jewellery exports continue  to grow despite an uncertain global trade environment. Studded gold jewellery has emerged as a strong performer, with exports growing 31.31% in  US dollar terms to US$ 3.69 billion during April–September 2026. The growth reflects the  benefits of improved trade access under the India–UK trade agreement and reduced US  tariffs, alongside strong performance in key markets such as Hong Kong, Singapore and  France.

Gold prices rose 31.17% in US dollar terms to US$ 4,415.70 per troy ounce during April– September 2026, compared to US$ 3,366.44 per troy ounce in the corresponding period  last year.”

“The sharp rise in gold prices has added to the challenges facing plain gold jewellery  exports, which declined 8.81% to US$ 2.53 billion. Demand and market conditions remain  challenging, particularly in the Middle East, an important destination for plain gold  jewellery exports.” 

“Cut and polished diamonds are showing encouraging signs, with prices improving in  recent months and export volumes increasing 4.64% to 83.98 lakh carats during April– September 2026. In value terms, exports stood at US$ 5.81 billion, decline of 6.96%,  however, recorded 2.31% growth in rupee terms. The rise in export volumes, coupled with  improving diamond prices and positive growth in rupee terms, signals a gradual recovery in  the cut and polished diamond segment. 

“Polished lab-grown diamonds have also delivered positive results, with exports growing  17.08% to US$ 685.10 million, supported by steady prices. Silver jewellery exports rose  23.10%, reflecting growing demand for higher-value, design-led collections in international  markets. These trends highlight the industry’s ability to adapt to changing market  conditions through product innovation, value addition and market diversification. We  remain optimistic that these positive developments will help sustain export growth in the  coming months.” 

April–September 2026: Product-wise Export Performance 

• Gold Jewellery (Plain & Studded) exports increased 11.37% in US dollar terms and  22.73% in rupee terms to US$ 6.23 billion (Rs. 59,266.28 crore) during April–September 2026, compared to US$ 5.59 billion in the corresponding period last  year.  

• Plain Gold Jewellery exports declined 8.81% in US dollar terms and 0.58% growth in  rupee terms to US$ 2.53 billion (Rs. 24,126.58 crore) during April–September 2026,  compared to US$ 2.78 billion in the corresponding period last year. 

• Studded Gold Jewellery exports grew 31.31% in US dollar terms and 44.60% in  rupee terms to US$ 3.69 billion (Rs. 35,139.71 crore) during April–September 2026,  compared to US$ 2.81 billion in the corresponding period last year.  

• Cut & Polished Diamonds exports declined 6.96% in US dollar terms and a +2.31%  growth in rupee terms to US$ 5.81 billion (Rs. 55,336.16 crore) during April–September 2026, compared to US$ 6.25 billion in the corresponding period last  year. 

• Silver Jewellery exports grew 23.10% in US dollar terms and 34.36% in rupee terms  to US$ 729.32 million (Rs. 6,908.90 crore) during April–September 2026, compared to US$ 592.44 million in the corresponding period last year.  

• Platinum Jewellery exports increased 15.75% in US dollar terms and 27.19% in  rupee terms to US$ 123.29 million (Rs. 1,172.75 crore) during April–September  2026, compared to US$ 106.51 million in the corresponding period last year.  

• Polished Lab-Grown Diamonds exports increased 17.08% in US dollar terms and  28.85% in rupee terms to US$ 685.10 million (Rs. 6,522.15 crore) during April– September 2026, compared to US$ 585.14 million in the corresponding period last  year.  

• Coloured Gemstones exports declined 3.80% in US dollar terms and a 5.37% growth  in rupee terms to US$ 227.55 million (Rs. 2,163.22 crore) during April–September  2026, compared to US$ 236.55 million in the corresponding period last year. 

September 2026: Product-wise Export Performance 

• Gold Jewellery (Plain & Studded) exports increased 34.01% in US dollar terms and  44.82% in rupee terms year-on-year to US$ 1.19 billion (Rs. 11,368.96 crore).  

• Plain Gold Jewellery exports increased 8.76% in US dollar terms and 17.48% in  rupee terms year-on-year to US$ 378.03 million (Rs. 3,609.23 crore).  

• Studded Gold Jewellery exports increased 50.24% in US dollar terms and 62.39% in  rupee terms year-on-year to US$ 812.62 million (Rs. 7,759.73 crore). 

• Cut & Polished Diamonds exports declined 5.44% in US dollar terms and a 2.15%  growth in rupee terms year-on-year to US$ 1.29 billion (Rs. 12,335.79 crore). 

• Silver Jewellery exports declined 12.49% in US dollar terms and -5.29% in rupee  terms year-on-year to US$ 134.46 million (Rs. 1,285.01 crore). 

• Platinum Jewellery exports increased 1.27% in US dollar terms and 9.57% in rupee  terms year-on-year to US$ 22.97 million (Rs. 219.38 crore).  

• Polished Lab-Grown Diamonds exports grew 40.72% in US dollar terms and 52.07%  in rupee terms year-on-year to US$ 151.43 million (Rs. 1,445.53 crore).  

• Coloured Gemstones exports declined 7.44% in US dollar terms and -0.39% in  rupee terms year-on-year to US$ 74.94 million (Rs. 711.73 crore).