India’s gem and jewellery exports staged a strong recovery in June 2026, rising 26.5% year-on-year to $2.21 billion, driven by robust demand from key international markets and lower global gold prices. The sharp rebound follows a challenging period for the industry and signals improving momentum for one of India’s largest export sectors. According to the Gem & Jewellery Export Promotion Council (GJEPC), higher shipments of gold jewellery, cut and polished diamonds, platinum jewellery, and lab-grown diamonds contributed significantly to the growth.
The improvement comes as international gold prices declined by 10.28% month-on-month, reducing raw material costs and enabling Indian exporters to offer more competitive prices in overseas markets. Industry leaders also expect recently concluded trade agreements, including the India-UK Comprehensive Economic and Trade Agreement (CETA), to support export growth in the coming months.
June Exports Rebound on Strong Global Demand
India’s gross gem and jewellery exports climbed sharply in June after subdued performance in previous months, reflecting renewed buying interest across major overseas markets.
Export Performance
| Metric | June 2026 |
|---|---|
| Gross exports | $2.21 billion |
| Year-on-year growth | 26.5% |
| Key growth drivers | Gold jewellery, natural diamonds, platinum jewellery, lab-grown diamonds |
The GJEPC said the recovery demonstrates the resilience of India’s gem and jewellery industry despite evolving global trade conditions.
Lower Gold Prices Boost Competitiveness
One of the biggest contributors to the export surge was the decline in international gold prices.
Lower bullion prices helped manufacturers reduce production costs and offer more attractive pricing to overseas buyers, resulting in stronger order volumes across multiple jewellery categories.
Factors Behind the Growth
| Growth Driver | Impact |
|---|---|
| Lower global gold prices | Reduced production costs |
| Strong overseas demand | Higher export orders |
| Recovery in jewellery buying | Improved shipment volumes |
| Product diversification | Growth across multiple categories |
Multiple Product Segments Posted Strong Growth
The June rebound was broad-based rather than concentrated in a single category.
Strong export performance came from:
- Gold jewellery.
- Cut and polished diamonds.
- Platinum jewellery.
- Lab-grown diamonds.
The diversified growth suggests improving demand across traditional as well as emerging jewellery segments in global markets.
Trade Agreements May Provide Further Support
Industry leaders expect recently signed trade agreements to improve India’s export competitiveness.
GJEPC Chairman Kirit Bhansali said continued demand from key markets, efforts to diversify export destinations, and agreements such as the India-UK CETA are expected to support growth in the coming months. Earlier this month, India shipped its first jewellery consignments to the UK under the trade pact, providing exporters with zero-duty market access.
Industry Outlook
| Opportunity | Expected Benefit |
|---|---|
| India-UK CETA | Improved market access |
| Market diversification | Reduced dependence on individual regions |
| Competitive pricing | Higher export potential |
| Global demand recovery | Sustained shipment growth |
Why the Export Recovery Matters
The gem and jewellery industry is one of India’s largest foreign exchange earners and supports millions of jobs across manufacturing, polishing, design, and exports.
A sustained recovery in exports could:
- Increase foreign exchange earnings.
- Support employment across the value chain.
- Boost manufacturing activity.
- Strengthen India’s position as a global jewellery export hub.
The latest figures also indicate improving sentiment among international buyers despite ongoing global economic uncertainties.
Looking Ahead
India’s 26.5% year-on-year jump in gem and jewellery exports to $2.21 billion in June marks a strong recovery for the sector after a period of subdued performance. Supported by lower international gold prices, healthy demand across major export markets, and broad-based growth in gold jewellery, diamonds, platinum jewellery, and lab-grown diamonds, the industry has regained positive momentum. The rebound underscores the resilience of Indian exporters in adapting to changing global market conditions.
Looking ahead, exporters are optimistic that stronger overseas demand, expanding market diversification, and trade agreements such as the India-UK CETA will help sustain growth in the coming months. Continued competitiveness on pricing, along with favourable trade policies, will be key to maintaining India’s position as one of the world’s leading gem and jewellery export destinations.
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