India’s gem and jewellery exports jump 26.51% in June to USD 2.21 billion on stronger gold jewellery demand

AI Market Summary
India's June gem and jewellery exports rose 26.5% YoY, led by a 54.5% jump in gold jewellery and strong lab-grown diamond shipments. A 10.28% MoM drop in international gold prices reduced input costs and improved export price competitiveness, supporting physical demand signals for gold-related supply chains. However, April–June exports were broadly flat in USD terms and GST-related import frictions persist, limiting broader market spillover.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT-1.40%
AI Insight · NCCOGOLD2USD/USDTAI Insight
● Neutral
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India’s gem and jewellery exports rose 26.51% year on year in June 2026 to USD 2.21 billion, led by gold jewellery exports that climbed 54.50% to USD 1.09 billion and polished lab-grown diamonds that increased 52.25%. A 10.28% month-on-month drop in international gold prices reduced input costs and helped exporters offer more competitive prices abroad. April–June 2026 exports were nearly flat in dollar terms at USD 6.61 billion (+0.04%) but rose 10.76% in rupee terms. Exports continue to face constraints from a technical regulatory issue linked to GST applicability on gold imports by RBI-notified nominated agencies.