India's gem & jewellery exports rise 26.5%

India's gem and jewellery exports staged a sharp recovery in June, rising 26.5% year-on-year to $2.21 billion, helped by lower international gold prices, improving demand across key overseas markets and strong orders for gold jewellery, diamonds and lab-grown diamonds.According to data released by the Gem & Jewellery Export Promotion Council (GJEPC), gross exports stood at $2.21 billion (₹21,010.78 crore) in June 2026 compared with $1.75 billion (₹15,023.07 crore) a year earlier.Despite continued global economic uncertainty and elevated precious metal prices during the quarter, India's overall gem and jewellery exports for April-June 2026 remained largely flat at $6.61 billion, posting a marginal 0.04% growth in dollar terms and a 10.76% increase in rupee terms.Also read: Government hikes duty drawback for jewellery exports"The strong rebound in June exports reflects the resilience of India's gem and jewellery sector amid an evolving global trade environment," said Kirit Bhansali, chairman, GJEPC.

He added that continued demand from key markets, market diversification and recently concluded trade agreements, including the India-UK Comprehensive Economic and Trade Agreement (CETA), are expected to support export growth in the coming months.Industry executives said the sharp correction in international gold prices played a key role in reviving exports.

Gold prices declined over 10% month-on-month, falling from $4,723.88 per troy ounce in May to $4,238.32 per troy ounce in June, lowering raw material costs and enabling exporters to offer more competitive prices.The council also attributed the recovery to stronger buyer sentiment and fresh export orders generated at jewellery exhibitions held in Kuwait and Sharjah.However, GJEPC flagged that exporters continue to face difficulties in sourcing gold due to a technical issue relating to the applicability of GST on imports by RBI-notified nominated agencies.

The industry body said it is working with the government to resolve the matter.Also read: Trump's Generic Drug Tariffs Explained: What it means for Indian pharma before the 200% stormAmong product categories, gold jewellery exports emerged as the biggest driver of growth in June, surging 54.5% to $1.09 billion.

Within this, studded gold jewellery exports jumped 85.35%, while plain gold jewellery exports rose 25.34%, led by demand from the UAE, the US, Saudi Arabia, Singapore and the UK.Cut and polished diamond exports increased 8.71% to $846.7 million, while polished lab-grown diamond exports climbed 52.25% to $101.35 million.Platinum jewellery exports also rose 34.77% during the month.However, silver jewellery exports declined 23.98%, while coloured gemstone exports fell 23.63% in June.For the April-June quarter, studded gold jewellery exports rose 20.1%, while silver jewellery exports nearly doubled, growing 97.78% year-on-year.

Exports of lab-grown diamonds increased 14.92%, and platinum jewellery shipments rose 27.66%.On the other hand, plain gold jewellery exports declined 23.3%, while cut and polished diamond exports fell 4.13% during the quarter, reflecting uneven demand across product categories. ...