India Sets USD 100 Billion Gems & Jewellery Export Target by 2040

MUMBAI: India’s gems and jewellery industry is setting its sights far beyond traditional manufacturing, with the government unveiling a 2040 roadmap to increase exports from around $28 billion in 2025-26 to $100 billion and establish India as a global hub for design, innovation and branded jewellery.

Speaking at the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, Commerce Secretary Rajesh Agrawal said value addition, global branding and technology would be critical to achieving the ambitious target.

“The real catalyst for taking the sector from around USD 29 billion to USD 100 billion lies in building an ecosystem driven by innovation, global design leadership and trust,” Agrawal said.

He stressed that India’s biggest strength is its skilled workforce rather than access to gold, silver or rough diamonds. He called for a shift from low-margin OEM manufacturing towards design-led, branded and higher-value exports, while encouraging collaboration between industry and academic institutions.

Agrawal also highlighted the potential of artificial intelligence, 3D printing and advanced technologies to create differentiated jewellery and urged the industry to incorporate India’s cultural heritage and storytelling into contemporary designs.

The high-level dialogue, organised by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC) under the guidance of Commerce and Industry Minister Piyush Goyal, focused on five priority missions—global market access, MSME scale-up, faster export-import processes, “Crafted by India” branding, and next-generation talent and design.

GJEPC Chairman Kirit Bhansali said the industry was at a crucial turning point, with FTAs, policy support and incentives creating a strong foundation for growth.

“The next opportunity lies in accelerating value addition, expanding finished jewellery exports and leveraging India’s world-class craftsmanship,” Bhansali said.

The roadmap also envisages doubling manufacturing output to around ₹15 lakh crore, creating employment opportunities for nearly one crore people, and increasing India’s share of global merchandise exports.

The deliberations aim to transform India from an OEM manufacturing base into a globally recognised original design, branding and jewellery manufacturing powerhouse, aligned with the vision of Viksit Bharat 2047.