India's Gem, Jewellery Exports Rise 12.52% in August

Diamond Exports: Volume Up, Value Under Pressure

Cut and polished diamond exports told a more mixed story during the month. While the value of these exports remained under pressure, the volume exported actually increased, rising from 12.94 lakh carats in August 2025 to 13.36 lakh carats in August 2026. This divergence between rising volumes and pressured values likely reflects broader softness in global diamond prices, even as demand for Indian-cut and polished stones held steady or grew in physical terms.

Industry Leadership's Take on the Numbers

Commenting on the month's performance, GJEPC Chairman Kirit Bhansali framed the results as evidence of the industry's underlying resilience. "August's export performance reflects the resilience and adaptability of India's gem and jewellery industry. The increase in diamond export volumes, along with the sharp growth in studded gold jewellery exports, highlights India's growing ability to create greater value by transforming precious materials into finished jewellery," he said, tying the month's numbers to a broader narrative of the industry's evolving capabilities.

A Broader Look at the April–August Period

Beyond the single-month figures, the report also provided a picture of trends across the April–August 2026 period. Gold jewellery exports, encompassing both plain and studded categories, rose 7 per cent to Rs 47,853.03 crore during this stretch. Within that figure, the two categories moved in opposite directions: plain gold jewellery exports declined 11.44 per cent, while studded gold jewellery exports grew 26.73 per cent, reinforcing the same shift toward value-added products seen in August's standalone data. Cut and polished diamond exports over the same five-month period declined 7.38 per cent in value terms.

Strong Growth in Silver and Platinum

Other segments of the industry also showed notable movement during April–August 2026. Silver jewellery exports grew by 35.57 per cent, while platinum jewellery exports rose 19.67 per cent to Rs 953.36 crore, indicating healthy demand across a range of precious metal categories beyond gold and diamonds alone.

Lab-Grown Diamonds Continue Their Ascent

Polished lab-grown diamond exports increased 11.76 per cent to Rs 5,076.61 crore during the April–August period, continuing a broader global trend of rising demand for lab-grown alternatives to natural diamonds. In contrast, coloured gemstone exports declined 1.92 per cent over the same period, a relatively modest dip compared to the stronger swings seen in other segments.

A Sector Adapting to Shifting Demand

Taken together, August's figures and the broader five-month trend point to an industry that is actively adapting its export mix, leaning more heavily into finished, value-added jewellery and alternative categories like lab-grown diamonds and silver, even as traditional cut and polished diamond exports face continued value pressure in global markets.

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