Silver jewellery exports surge 172% as gold loses shine in May 2026
India's gems & jewellery exports slipped 2.49% YoY to $1.41B in May 2026, but the mix is rewriting itself: silver jewellery shipments jumped 172.53% to $365.77M, lab-grown diamonds rose 25.99% to $101.50M and platinum gained 24.97%, while plain gold jewellery cratered 29.39% to $294.87M.
What happened
Gem and Jewellery Export Promotion Council · India's gems & jewellery exports fell 2.49% YoY in May 2026 to $1.41B, but silver jewellery surged 172%, platinum
Key facts
- $1.41B May 2026 exports -2.49% YoY
- Silver jewellery +172.53% to $365.77M
- Platinum +24.97% to $41.22M
- Lab-grown diamonds +25.99% to $101.50M
- Plain gold jewellery -29.39% to $294.87M
Why this matters
Hunt for bolt-on targets in silver craftsmanship, lab-grown diamond manufacturing and platinum design studios now, before competitors price in the 172% silver export surge and 26% lab-grown growth into deal multiples.