India's gem and jewellery exports jump 34% to $2.92 billion in October; gold jewellery leads growth
India's gem and jewellery exports surged 34.01% year-on-year to $2.92 billion in October 2026, supported by stronger overseas demand and uninterrupted production ahead of the holiday season. Gold jewellery shipments recorded particularly strong growth, while diamond exports also showed signs of recovery.
- Nov 14, 2026,
- Updated Nov 14, 2026 1:15 PM IST
India's gem and jewellery industry recorded a sharp rebound in October 2026, with exports climbing 34.01% to $2.92 billion (₹27,863 crore), compared with $2.18 billion (₹19,253.60 crore) in the corresponding month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC).
The increase was supported by demand ahead of Christmas and year-end celebrations, alongside favourable production conditions in major jewellery manufacturing centres.
During April-October 2026, cumulative exports increased 7.28% to $17.22 billion (₹1.64 lakh crore), against $16.05 billion (₹1.39 lakh crore) during the corresponding period of 2025.
According to GJEPC, the timing of Diwali played an important role in October's export performance.
In 2025, Diwali fell in October, disrupting manufacturing schedules and reducing operational days. This year, the festival fell in November, allowing exporters to maintain uninterrupted production throughout October.
The additional working days helped manufacturers fulfil overseas orders ahead of the international holiday shopping season.
MUST READ: Gold price today: Inflation concerns lift demand for safe haven
Gold jewellery drives export growth
Gold jewellery emerged as a major contributor to the industry's October performance, with exports increasing 48.20% year-on-year.
Studded gold jewellery recorded even stronger growth of 67.30%, reflecting demand for value-added jewellery products.
Cut and polished diamond exports also returned to positive territory, rising 10.50% during October, suggesting improving demand from international buyers.
Meanwhile, silver jewellery exports increased 28.98% during April-October. However, elevated silver prices continued to pressure working capital requirements and influence overseas purchasing decisions.
UAE leads, Hong Kong and US gain
The UAE remained India's largest gem and jewellery export destination during April-October, with shipments worth $4.87 billion, despite a 10.27% annual decline.
Hong Kong emerged as a significant growth market, with exports increasing 18.80% to $3.95 billion.
Shipments to the United States rose 14.87% to $3.61 billion.
Belgium recorded 30.02% growth to $923.19 million, while Singapore and the UK registered increases of 22.38% and 17.89%, respectively.
Canada witnessed particularly strong growth of 107.93%.
ALSO READ: Gold ETF inflows decline 22% to ₹3,470 crore in October: Are investors turning cautious on gold?
Industry targets 10% growth in FY27
GJEPC Chairman Kirit Bhansali described the industry's performance over the past three months as encouraging.
He indicated that exports could grow approximately 10% in FY27 if the current momentum continues without major disruptions.
Bhansali also noted that higher international gold prices contributed to the increase in gold jewellery export values, alongside sustained overseas demand.
The outlook remains dependent on global consumer spending, precious metal prices and demand across key international markets.
With PTI inputs.
DO READ: Dhanteras 2026: NSE gold receipts hit record trading volume of 2.27 lakh units as demand surges
India's gem and jewellery industry recorded a sharp rebound in October 2026, with exports climbing 34.01% to $2.92 billion (₹27,863 crore), compared with $2.18 billion (₹19,253.60 crore) in the corresponding month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC).
The increase was supported by demand ahead of Christmas and year-end celebrations, alongside favourable production conditions in major jewellery manufacturing centres.
During April-October 2026, cumulative exports increased 7.28% to $17.22 billion (₹1.64 lakh crore), against $16.05 billion (₹1.39 lakh crore) during the corresponding period of 2025.
According to GJEPC, the timing of Diwali played an important role in October's export performance.
In 2025, Diwali fell in October, disrupting manufacturing schedules and reducing operational days. This year, the festival fell in November, allowing exporters to maintain uninterrupted production throughout October.
The additional working days helped manufacturers fulfil overseas orders ahead of the international holiday shopping season.
MUST READ: Gold price today: Inflation concerns lift demand for safe haven
Gold jewellery drives export growth
Gold jewellery emerged as a major contributor to the industry's October performance, with exports increasing 48.20% year-on-year.
Studded gold jewellery recorded even stronger growth of 67.30%, reflecting demand for value-added jewellery products.
Cut and polished diamond exports also returned to positive territory, rising 10.50% during October, suggesting improving demand from international buyers.
Meanwhile, silver jewellery exports increased 28.98% during April-October. However, elevated silver prices continued to pressure working capital requirements and influence overseas purchasing decisions.
UAE leads, Hong Kong and US gain
The UAE remained India's largest gem and jewellery export destination during April-October, with shipments worth $4.87 billion, despite a 10.27% annual decline.
Hong Kong emerged as a significant growth market, with exports increasing 18.80% to $3.95 billion.
Shipments to the United States rose 14.87% to $3.61 billion.
Belgium recorded 30.02% growth to $923.19 million, while Singapore and the UK registered increases of 22.38% and 17.89%, respectively.
Canada witnessed particularly strong growth of 107.93%.
ALSO READ: Gold ETF inflows decline 22% to ₹3,470 crore in October: Are investors turning cautious on gold?
Industry targets 10% growth in FY27
GJEPC Chairman Kirit Bhansali described the industry's performance over the past three months as encouraging.
He indicated that exports could grow approximately 10% in FY27 if the current momentum continues without major disruptions.
Bhansali also noted that higher international gold prices contributed to the increase in gold jewellery export values, alongside sustained overseas demand.
The outlook remains dependent on global consumer spending, precious metal prices and demand across key international markets.
With PTI inputs.
DO READ: Dhanteras 2026: NSE gold receipts hit record trading volume of 2.27 lakh units as demand surges