Gems & Jewellery exports shows signs of stabilization amid global headwinds with a rise of 26.51% in June 2026; imports also rise by 10.06% in the same period
The overall Gross gems & jewellery exports grew by 26.51% to US$ 2212.65 million (Rs. 21010.78 crores) in June 2026 after a long trail of decline. Quarterly performance of the April to June 2026 period also reflects a positive sign, with a rise of 0.04% to US$ 6612.21 million (Rs. 62588.61 crores) as compared to last year.
Gross imports grew by 10.06% in June 2026 to US$ 1720.68 million (Rs. 16330.63 crores), whereas a decline of 5.9% to US$ 4974.812 million (Rs. 47048.56 crores) was witnessed between the APR-JUNE 2026 period. This positive shift is a welcome move and serves as a ray of hope for the Indian gems & jewellery sector amid the global economic headwinds the sector has been suffering for a long time.
Cut & Polished Diamonds: The overall gross export of Cut & Polished diamonds reflects a rise to US$ 846.73 million (Rs. 8039.30 crores) in the month of JUNE 2026 and reflects a growth of (+)8.71% as compared to US$ 778.89 million (Rs. 6693.85 crores) for the same period of the previous year. Whereas, gross exports for APR-JUNE 2026 in this product category cumulatively reflect a decline of (-) 4.13% to US$ 2720.21 million (Rs. 25773.90 crores) as compared to US$ 2837.39 million (Rs. 24271.10 crores) for the same period in the previous year. In terms of volume, the gross Exports of Cut & Polished diamonds at 39.88 lakhs carats during APR-JUN 2026 have shown a growth of (+)8.98% compared with the exports at 36.59 lakhs carats during the previous year. Per Carat Value April to June was 2026 US$ 681.76
Parallelly, the overall gross imports of Cut & Polished diamonds at US$ 64.35 million (Rs. 610.65 crores) in the month of JUN 2026 are showing a decline of (-)7.56% as compared to US$ 69.61 million (Rs. 597.79 crores) for the same period of the previous year. Whereas, the overall gross imports of Cut & Polished diamonds in the APR 2026 - JUNE 2026 period at US$ 358.60 million (Rs. 3372.37 crores) is showing a growth of (+) 66.13% ((+)82.65% Rs. term) as compared to US$ 215.86 million (Rs. 1846.38 crores) for the same period of the previous year.
Furthermore, total import in DTA reflects a decline of (-)0.65% to US$ 21.52 million (Rs. 204.19 crores) in JUNE 2026 as compared to US$ 21.66 million (Rs 186.30 crores) for the same period last year. In the APRIL-JUNE 2026 period, the overall gross imports of Cut & Polished diamonds in DTA at US$ 61.98 million (Rs. 585.54 crores) are showing a Growth of (+)7.15% as compared to US$ 57.85 million (Rs. 495.32 crores).
This trend signifies the reinstatement of diamond jewellery demand in the international market and points towards positive holiday season sales, along with the preference of SEZs over DTA for trade. This sentiment will likely hold fort and further gain momentum as we move closer to the Oct-Dec quarter.
Rough Diamonds: Gross imports of rough diamonds at US$ 700.30 million (Rs 6649.13 crores) in June 2026 have shown a decline of (-)27.11% as compared to US$ 960.77 million (Rs. 8256.36 crores) in the same period last year. Gross Imports of rough diamonds during the APR 2026 - JUN 2026 have declined by (-)32.42% to US$ 2165.12 million (Rs 20456.90 crores) as compared to US$ 3203.59 million (Rs. 27403.44 crores) on a y-o-y basis for the same period. In volume terms, gross imports of rough diamonds at 66.92 lakhs carats during June 2026 have shown a decline of (-)8.64% compared with the imports at 76.53 lakhs carats during the previous year. Per Carat Value in June 2026 was US$ 100.19. Similarly, there has been a carat-wise decline of (-)15.65% to 228.02 lakhs carats in APR 2026 - JUN 2026 as compared to 270.31 lakhs carats during the previous year.
The drop in rough diamond trade continues to witness a decline as Indian jewellery manufacturers are looking at clearing off the inventory before making new purchases given the volatility in overseas demand. However, we may see the demand pick up at the consumers' end, and that will automatically boost the import cycle of this product category.
Polished Lab Grown Diamonds: Gross export of Polished Lab Grown Diamonds for the period June 2026 stood at US$ 101.35 million (Rs. 961.92 crores, showcasing a growth of (+) 52.25% as compared to US$ 66.57 million (Rs. 572 crores) for the previous year. The cumulative provisional gross export of Polished Lab Grown Diamonds for the period APR -JUN 2026 stood at US$ 296.24 million (in Rs. 2805.39 crores), reflecting a growth of (+)14.92% in comparison to US$ 257.77 million (Rs. 2204.84 crores) for the same period on a Y-o-Y basis. In volume terms, gross exports of worked lab-grown diamonds at 43.57 lakhs carats during APR 2026 - JUNE 2026 have shown a growth of (+)31.97% as compared with the exports at 33.01 lakhs carats during the previous year. Per Carat Value April to June 2026 was US$ 67.94.
Being on a continuous growth stride, finished lab-grown diamonds are witnessing a tremendous response in the international markets as consumers are adopting a price-conscious approach in response to the uncertainties. Alongside, this category has emerged as a lucrative alternative to natural diamonds for the price-sensitive audience. As a result of this, we are likely to see the demand only get stronger in the days to come.
Gold Jewellery (Plain & Studded): The total gross export of Gold Jewellery at US$ 1087.74 million (Rs. 10330.51 crores) in the month of JUN 2026 is showing a growth of (+)54.50%, as compared to US$ 704.06 million (Rs. 6047.43 crores) for the same period of the previous year. However, the total gross export of this category witnessed a decline of (-) 2.35% to US$ 2784.74 million (Rs. 26357.04 crores), as compared to US$ 2784.74 million (Rs. 26357.04 crores) in the previous year.
Plain Gold Jewellery: The total export of Plain Gold Jewellery at US$ 453.76 million (Rs. 4311.43 crores) in the month of JUN 2026 is showing a Growth of (+)25.34 as compared to US$ 362.02 million (Rs. 3109.57 crores) for the same period of the previous year. Contrastingly, the APR-JUN 2026 period has witnessed a decline of (-)23.30% to US$ 1130.86 million (Rs. 10704.54 crore as compared to US$ 1474.48 million (Rs. 12611.39 crores in the previous year.
Studded Gold Jewellery: The total export of Studded Gold Jewellery at US$ 633.97 (Rs. 6019.08 crores) in the month of JUN 2026 is showing a Growth of (+) 85.35% as compared to US$ 342.04(Rs. 2937.86 crores) for the same period of the previous year. For the APR 2026-JUN 2026 period, gross export of studded gold jewellery stood at US$ 1653.88 million (Rs. 15652.50 crores), underlining a growth of (+)20.10%, as compared to US$ 1377.13 million (Rs. 11761.31 crores) for the previous year.
While the dip in quarterly performance of plain gold jewellery is due to the mixed monthly trend, it is noteworthy that the gold jewellery exports in both categories have increased phenomenally overall. This can be attributed to the restoration of buyers’ sentiment due to some signs of stability in the global economic scenario. While this trend is likely to gain momentum in the near future, it is important to keep a watch on any untoward development when it comes to the current geopolitical scenario.
Silver Jewellery: Gross export of all kinds of Studded Gold jewellery for the period APR 2026 - JUN 2026 at US$ 1653.88 million (Rs. 15652.50 crores) showed a growth of (+)20.10%, as compared to US$ 1377.13 million (Rs. 11761.31 crores) for the same period last year. Silver jewellery has been the best-preferred alternative among the buyers, and the double-digit growth on a y-o-y basis stands as a true testament to the growing affinity of the world towards this product category given the factor of affordability as compared to the yellow metal.
Platinum Jewellery: Gross export of Platinum Jewellery for the period APR 2026 - JUN 2026 at US$ 58.67 million (Rs. 554.81 crores) shows growth of (+)27.66% as compared to US$ 45.96 million (Rs. 393.23 crores) for the previous year. Platinum jewellery will continue to rule the roost given the fact that buyers are increasingly inclining towards cost-effective alternatives and the rise in demand for premium contemporary jewellery in the international markets.
Coloured Gemstones: Gross export of Coloured Gemstones for the period APR 2026 - JUN 2026 at US$ 82.25 million (in Rs. 778.57 crores) shows a decline of (-)15.0% as compared to US$ 96.76 million (Rs. 826.93 crores) in the last year. This downtrend can be attributed to international buyers delaying their purchase given the logistical barriers. However, demand for this product category is largely agnostic to any headwinds and will likely spring back in the near future.
Gold Medals & Medallions: Gross export of Gold Medallions & Coins for the period APR 2026 - JUN 2026 at US$ 1.81 million (Rs. 16.87 crores) showed a growth of (+)86.42% over the comparative figure of US$ 0.97 million (Rs. 8.28 crores) for the previous year. This trend depicts a strong sentiment among overseas investors’ communities banking on gold as a lucrative hedge against inflation. This trend also underlines the fact that while gold may be going through turbulent times right now, the future of the yellow metal remains bullish in the long run.
Commenting on the performance of the Indian gems & jewellery sector, Mr. Colin Shah, MD, Kama Jewelry, said, “The positive trend in Indian gems & jewellery exports after months of declining trajectory is a revered moment for the sector. Having said that, the impact of the global tension will continue to linger for a while, although the intensity will reduce over a period of time until absolute stabilisation.
As we near the holiday season in the West as well as the Indian festive season, we will see these two factors as major demand propellers that will provide some cushioning to the sector. Parallelly, the new FTAs will open up new opportunities and empower the Indian traders to diversify business efforts.”
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