India’s gem and jewellery exports jump 26.5% to $2.21bn in June
India’s gem and jewellery exports rose to $2.21 billion in June, led by a 54.5% increase in gold jewellery exports and 52.25% growth in polished lab-grown diamonds. April–June exports were broadly flat in dollar terms at $6.61 billion.
What happened
Gem & Jewellery Export Promotion Council (GJEPC) · India’s gem and jewellery exports rose 26.5% to $2.21 billion in June, led by gold jewellery and lab-grown
Key facts
- June 2026 gem and jewellery exports: $2.21 billion (₹21,010.78 crore), up 26.5% year-on-year
- June 2025 exports: $1.75 billion (₹15,023.07 crore)
- April-June 2026 exports: $6.61 billion, up 0.04% in dollar terms and 10.76% in rupee terms
- International gold price declined over 10% month-on-month, from $4,723.88/oz in May to $4,238.32/oz in June
- Gold jewellery exports: $1.09 billion, up 54.5%
- Studded gold jewellery exports: up 85.35%
- Plain gold jewellery exports: up 25.34%
- Cut and polished diamond exports: $846.7 million, up 8.71%
- Polished lab-grown diamond exports: $101.35 million, up 52.25%
- Platinum jewellery exports: up 34.77%
- Silver jewellery exports: down 23.98%
- Coloured gemstone exports: down 23.63%
Why this matters
Rapid growth in gold jewellery and polished lab-grown diamonds strengthens the strategic case for partnerships or acquisitions in scalable manufacturing, sourcing, and export distribution despite muted quarterly growth.
What to watch
- July-August gem and jewellery export data: sustained growth would validate a demand recovery; a sharp pullback would point to shipment timing.
- US discretionary spending, bridal demand and holiday wholesale orders, which are key to whether exporters convert June momentum into a stronger second half.
- Gold price direction and rupee-dollar movement, both of which affect affordability, export competitiveness and inventory financing.
- Monthly polished lab-grown diamond export values and unit volumes versus natural diamond exports, indicating whether growth is volume-led or price-led.
- Retail inventory levels and promotional intensity in major destination markets, especially the US and UAE.
- Indian jewellery exporters are likely to prioritize production slots and marketing for US, UAE and other Gulf buyers ahead of the holiday and wedding-demand periods.
- Retail chains may broaden lightweight gold, studded jewellery and lab-grown diamond assortments while using installment plans and exchange offers to offset elevated gold prices.
- Manufacturers may increase hedging of gold exposure and tighten working-capital controls, since higher bullion prices can inflate inventory funding needs even when unit demand is stable.
- Exporters with reliable traceability, certification and compliance documentation may win a larger share of orders as overseas retailers seek lower sourcing risk.