India’s gem and jewellery exports rise 3% to $2.30bn in August
Growth was led by studded gold jewellery and polished lab-grown diamonds, while plain gold jewellery and cut-and-polished diamond exports fell amid elevated gold prices and input costs.
What happened
Gem and Jewellery Export Promotion Council (GJEPC) · India’s gem and jewellery exports rose 3% in August as studded gold jewellery demand strengthened.
Key facts
- August gem and jewellery exports: $2.30 billion, up 3% year-on-year
- August exports: ₹21,946 crore, up 13% year-on-year
- Studded gold jewellery exports: up 52% in US dollar terms
- Plain gold jewellery exports: $357 million, down 24%
- Cut and polished diamond exports: $925 million, down 5%
What changed
India’s gem and jewellery exports rose 3% in August as studded gold jewellery demand strengthened. Value-added jewellery and lab-grown diamonds grew, while plain gold jewellery and cut-and-polished diamond exports declined amid high gold prices and higher input costs.
Why this matters
India’s modest export growth signals stronger demand for studded gold and lab-grown diamond jewellery, but elevated gold and input costs require tighter pricing, sourcing and inventory discipline in plain-gold and natural-diamond lines.
What to watch
- International gold prices and rupee-dollar movements, which determine affordability and exporter margins.
- Monthly export data separating plain gold, studded gold, natural cut-and-polished diamonds and lab-grown diamonds.
- US and Middle East holiday-season retail jewellery sell-through and retailer inventory restocking.
- Natural diamond pricing, lab-grown diamond price declines and trade inventory levels in Surat and major export hubs.
- Changes in import duties, trade restrictions or tariff treatment in key destination markets.