Silver jewellery exports surge 172% as gold loses shine in May 2026
India's gems & jewellery exports slipped 2.49% YoY to $1.41B in May 2026, but the mix is rewriting itself: silver jewellery shipments jumped 172.53% to $365.77M, lab-grown diamonds rose 25.99% to $101.50M and platinum gained 24.97%, while plain gold jewellery cratered 29.39% to $294.87M.
India's gems & jewellery exports fell 2.49% YoY in May 2026 to $1.41B, but silver jewellery surged 172%, platinum rose 25% and lab-grown diamonds gained 26% as consumers shift away from costly gold toward affordable alternatives.