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Informist, Monday, Jan. 12, 2026

 

MUMBAI – Adopting a cluster-focussed approach towards addressing gaps in policy, infrastructure, technology, and finance can help propel India's gems and jewellery exports to $75 billion by 2030, according to a joint study by the Export-Import Bank of India and the Gems and Jewellery Export Promotion Council.

 

Currently, India exports less than $25 billion of gems and jewellery in a year. According to the Gems and Jewellery Export Promotion Council, India had exported $19 billion worth of its products in Apr-Nov.

 

The study, titled 'Making Gems and Jewellery Clusters Exportable', has identified and benchmarked 17 district-level clusters with high potential for exports. Among these clusters, Mumbai suburban emerged as the top-performing cluster, while Surat, Mumbai, Kolkata, and Jaipur were identified as front-runners, an Exim Bank release said Friday.

 

The study assessed India's unrealised export potential at $38 billion in the gems and jewellery sector. To tap this opportunity, the study recommends diversifying into high value-added product segments such as diamond studded jewellery, lightweight gold jewellery, luxury smart jewellery, imitation jewellery, synthetic gemstones, astrology-inspired designs, and cultured pearls. The study also suggests market diversification, particularly in emerging economies such as Vietnam, Singapore, Thailand, Botswana, Russia, and Sri Lanka, as well as in developed markets such as Singapore and the European Union, the release said.

 

The joint study recommended extending state-level incentives such as capital subsidies, state goods and services tax reimbursements, and streamlined clearances for the sector. Further, a design-led incentive scheme could be introduced to foster innovation, it suggested. Enhancing infrastructure was also identified as a key priority, with the study recommending to adopt a hub and spoke approach for common facility centres, strengthen special economic zones in Cochin and Chennai, and expand special economic zones in Surat and Jaipur. The study has further emphasised the need for improved international flight connectivity in manufacturing clusters such as Agra and Thrissur.

The study also identifies customs-related challenges, including limited airside access for custodians in Jaipur, inadequate appraisal facilities in Ahmedabad and Rajkot, and lack of risk-based sampling. It has also outlined strategies for improving access to raw materials by designating more banks to supply duty-free gold in smaller denominations and by easing customs procedures for coloured gemstones. Moreover, to enhance financial access, particularly for micro, small and medium enterprises, it has recommended greater awareness of financial products, including export factoring and supply chain finance solutions, the release said.  End

 

US$1 = INR 90.24

 

Reported by Abhijit Doshi

Edited by Tanima Banerjee

 

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