India’s studded gold jewellery exports rose 31.31% year-on-year in dollar terms to USD 3.69 billion during April–September FY27, according to data released by the Gem and Jewellery Export Promotion Council (GJEPC).

In rupee terms, exports increased 44.60% to Rs 35,139.71 crore during the six-month period. The growth outpaced the broader gold jewellery category, with combined exports of plain and studded gold jewellery rising 11.37% to USD 6.23 billion.

The increase in studded gold jewellery exports was supported by improved market access under the India–UK trade agreement, reduced US tariffs and stronger performance in key markets, including Hong Kong, Singapore and France.

The segment maintained its momentum in September 2026, with exports rising 50.24% year-on-year to USD 812.62 million. In rupee terms, shipments increased 62.39% to Rs 7,759.73 crore. Total gold jewellery exports, comprising plain and studded jewellery, rose 34.01% to USD 1.19 billion during the month.

India’s overall gems and jewellery exports increased 3.07% in dollar terms to USD 14.30 billion during April–September FY27. Growth in studded gold jewellery, silver jewellery and polished lab-grown diamonds helped offset weakness in other categories.

In contrast, plain gold jewellery exports declined 8.81% to USD 2.53 billion during the first half of FY27. Elevated gold prices and challenging demand conditions in the Middle East continued to weigh on the category.

Gold prices averaged USD 4,415.70 per troy ounce during April–September FY27, compared with USD 3,366.44 in the corresponding period last year, an increase of 31.17%.

The contrasting performance of studded and plain gold jewellery highlights the role of product mix and access to international markets in shaping India's jewellery export performance.