Gem and Jewellery Exports Rise 3% to $2.30 Billion in August

The Gem and Jewellery Export Promotion Council has reported a mixed performance in the exports sector for August 2026. While overall gem and jewellery exports rose by 3% year-on-year to $2.30 billion, plain gold jewellery exports suffered a significant decline of 24%, dropping to $357 million. This downturn is primarily attributed to elevated gold prices, which increased 8% month-on-month, and limited access to duty-free gold, raising input costs and diminishing the competitiveness of plain gold jewellery on the global market.

For the common citizen, this suggests a two-fold impact. The higher gold prices may deter consumers from purchasing plain gold jewellery, while the increase in studded jewellery export could signal a growing preference for more finished and value-added products. In turn, this shift might lead to higher prices for consumers who wish to acquire premium jewellery. Furthermore, increased exports in value-added segments, such as studded gold and diamond jewellery, foster economic activity and job creation in the sector, benefitting numerous artisans and workers engaged in jewellery manufacturing.

Looking ahead, the long-term outlook hinges on the government’s and RBI’s approach to managing gold prices and facilitating easier access to duty-free raw materials for exporters. Continued encouragement for the production and export of value-added jewellery could solidify India’s position as a global hub for jewellery manufacturing. As the export landscape evolves, it will be crucial for stakeholders to adapt strategically to ensure sustained growth and competitiveness in an ever-changing global market.

Source: The Hindu

(Expert Note: This report was independently prepared by the Wealthova Economy team.)