National News
Major Gold Reserves Unearthed in Odisha: A Game-Changer for India’s Mining Industry
Odisha’s Gold Discovery Sparks Optimism for Growth in the Mining Sector, with Plans for Large-Scale Auction Underway
Odisha has emerged as a promising new hub for gold mining, following the discovery of vast gold reserves across several districts. Bibhuti Jena, the state’s Mines Minister, confirmed the exciting find and announced ongoing exploration efforts. The state is set to hold a large-scale auction of gold mining blocks in the near future to capitalize on this newfound potential.
Key districts such as Sundargarh, Nabarangpur, Keonjhar, and Deogarh have been identified as hotspots for the gold reserves. Exploration is also expanding to regions like Malkangiri, Sambalpur, and Boudh, with more discoveries anticipated. In Mayurbhanj, areas like Jashipur, Suriaguda, Ruaansi, Idelkucha, Maredihi, Suleipat, and Badampahad are under investigation for their mineral potential.
One of the most notable discoveries has been in Deogarh district, specifically in Adasa-Rampalli, an area where gold traces had been found earlier. The Geological Survey of India (GSI) is actively conducting G-2 level exploration in this region, revealing the possibility of multiple mineral resources, including copper.
Keonjhar district is also a key focus for gold exploration, with surveys being carried out in areas like Gopur-Gazipur, Mankadchuan, Saleikana, and Dimirimunda. These efforts form part of Odisha’s larger strategy to develop its mining industry and fully utilize its untapped mineral wealth. The state government is closely involved, and the upcoming auction of gold mining blocks in Deogarh is seen as a major step forward.
The exploration is being carefully monitored by state authorities, the GSI, and the Odisha Mining Corporation, with technical committees set to review the final exploration reports to assess the viability of commercial mining. Early findings suggest promising potential, and final results are expected by the end of 2025.
This discovery further solidifies Odisha’s reputation as a mineral-rich state, while positioning India as a key player on the global mining stage. If the reserves prove commercially viable, the gold deposits could provide a significant economic boost, drawing both domestic and international investments into the country’s mining sector.
National News
Value Addition Drives August Jewellery Exports as Studded Gold Jewellery Rises 51.22% to US$642.85 Million
. Gross Gem & Jewellery Exports Rise 3.14% to US$2.30 Billion in August
. Cut and polished diamond exports, in volume terms, rose by 3.23%, from 12.94 lakh carats in August 2025 to 13.36 lakh carats in August 2026, indicating early signs of renewed demand and positive momentum in the global diamond market.
India’s gem and jewellery exports continued their positive momentum in August 2026, with gross exports increasing 3.14% in US dollar terms and 12.52% in rupee terms year-on-year to US$ 2.30 billion (Rs. 21,945.87 crore), compared to US$ 2.23 billion (Rs. 19,503.52 crore) in August 2025.
A notable trend during the month was the strong performance of value-added jewellery exports. While cut and polished diamond exports remained under pressure in value terms, the volume of cut and polished diamonds exported increased from 12.94 lakh carats in August 2025 to 13.36 lakh carats in August 2026. At the same time, studded gold jewellery exports surged 51.22% in US dollar terms, indicating growing demand for finished and value-added jewellery from international markets.
This shift towards value addition is significant for India’s gem and jewellery ecosystem, as more diamonds are being incorporated into finished jewellery within the country, creating greater value across the manufacturing chain and supporting employment and economic activity.
Shri Kirit Bhansali, Chairman, GJEPC, said “August’s export performance reflects the resilience and adaptability of India’s gem and jewellery industry. The increase in diamond export volumes, along with the sharp growth in studded gold jewellery exports, highlights India’s growing ability to create greater value by transforming precious materials into finished jewellery. This marks an important step in India’s evolution from a major processing centre to a global hub for design, manufacturing and value addition. With continued policy support, innovation and access to international markets, India is well positioned to capture a larger share of value across the global jewellery supply chain.”
Plain Gold Jewellery exports declined -23.90% in US dollar terms and -17.00% in rupee terms year-on-year to US$356.97 million (₹3408.32 crore). The decline comes amid elevated gold prices and the limited availability of duty-free gold for exporters, which has increased input costs and put pressure on the competitiveness of plain gold jewellery exports.
Gold prices increased by (+)8.27% month-on-month, rising from US$ 4,073.92 per troy ounce in July 2026 to US$ 4,410.89 per troy ounce in August 2026.
For the April–August 2026 period, India’s overall gross gem and jewellery exports stood at US$ 11.47 billion (Rs. 109,023.88 crore), registering a 2.58% growth in US dollar terms and a 13.36% growth in rupee terms over the corresponding period last year, demonstrating the sector’s resilience amid continued global economic uncertainties and elevated precious metal prices.
August 2026: Product-wise Export Performance
- Gold Jewellery (Plain & Studded) exports increased 11.81% in US dollar terms and 21.96% in rupee terms year-on-year to US$ 999.83 million (Rs. 9,546.12 crore). The growth was driven by strong demand from USA, Hongkong, Singapore, UK, and France.
- Plain Gold Jewellery exports declined 23.90% in US dollar terms and -17.00% in rupee terms year-on-year to US$ 356.97 million (Rs. 3,408.32 crore).
- Studded Gold Jewellery exports surged 51.22% in US dollar terms and 64.96% in rupee terms year-on-year to US$ 642.85 million (Rs. 6,137.81 crore). The growth was driven by strong demand from USA, UAE, Hongkong, UK, and France.
- Cut & Polished Diamonds exports declined -4.93% in US dollar terms and a +3.74% growth in rupee terms year-on-year to US$ 924.51 million (Rs. 8,828.65 crore).
- In volume terms, Cut and polished diamond exports rose by 3.23%, from 12.94 lakh carats in August 2025 to 13.36 lakh carats in August 2026.
- Silver Jewellery exports declined 39.66% in US dollar terms and -34.20% in rupee terms year-on-year to US$ 86.68 million (Rs. 827.20 crore).
- Platinum Jewellery exports grew 29.09% in US dollar terms and 40.90% in rupee terms year-on-year to US$ 22.50 million (Rs. 214.94 crore). The growth was driven by strong demand from USA, UK, Netherland, and Canada.
- Polished Lab-Grown Diamonds exports grew 28.45% in US dollar terms and 40.19% in rupee terms year-on-year to US$ 125.17 million (Rs. 1,195.18 crore). The growth was driven by strong demand from Hongkong, Israel, Thailand, Russia, and Canada.
- Coloured Gemstones exports grew 34.40% in US dollar terms and 46.64% in rupee terms year-on-year to US$ 49.07 million (Rs. 468.78 crore). The growth was driven by strong demand from Thailand, Hongkong, Italy, and USA.
April–August 2026: Product-wise Export Performance
Coloured Gemstones exports declined 1.92% in US dollar terms and a +8.45% growth in rupee terms to US$ 152.61 million (Rs. 1,451.49 crore) during April–August 2026, compared to US$ 155.59 million in the corresponding period last year.
Gold Jewellery (Plain & Studded) exports increased 7.00% in US dollar terms and 18.33% in rupee terms to US$ 5.03 billion (Rs. 47,853.03 crore) during April–August 2026, compared to US$ 4.70 billion in the corresponding period last year.
Plain Gold Jewellery exports declined 11.44% in US dollar terms and -2.04% in rupee terms to US$ 2.15 billion (Rs. 20,489.39 crore) during April–August 2026, compared to US$ 2.43 billion in the corresponding period last year.
Studded Gold Jewellery exports grew 26.73% in US dollar terms and 40.16% in rupee terms to US$ 2.88 billion (Rs. 27,363.63 crore) during April–August 2026, compared to US$ 2.27 billion in the corresponding period last year.
Cut & Polished Diamonds exports declined 7.38% in US dollar terms and a +2.35% growth in rupee terms to US$ 4.52 billion (Rs. 43,000.37 crore) during April–August 2026, compared to US$ 4.88 billion in the corresponding period last year.
Silver Jewellery exports grew 35.57% in US dollar terms and 48.57% in rupee terms to US$ 594.86 million (Rs. 5,623.89 crore) during April–August 2026, compared to US$ 438.79 million in the corresponding period last year.
Platinum Jewellery exports increased 19.67% in US dollar terms and 32.08% in rupee terms to US$ 100.32 million (Rs. 953.36 crore) during April–August 2026, compared to US$ 83.83 million in the corresponding period last year.
Polished Lab-Grown Diamonds exports increased 11.76% in US dollar terms and 23.49% in rupee terms to US$ 533.67 million (Rs. 5,076.61 crore) during April–August 2026, compared to US$ 477.53 million in the corresponding period last year.
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Value Addition Drives August Jewellery Exports as Studded Gold Jewellery Rises 51.22% to US$642.85 Million
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