Government brainstorms ways to up gems, jewellery exports to $100 billion by 2040
This story was originally published at 14:03 IST on 20 August 2026
Register to read our real-time news.Informist, Thursday, Aug. 20, 2026
NEW DELHI – The commerce ministry, along with the Gem and Jewellery Export Promotion Council, held a brainstorming session with stakeholders and industry Thursday to lay down a roadmap to achieve $100 billion worth of gems and jewellery exports by 2040. "The sector is projected to contribute 1.2% to India's GDP and account for 14% of the country's total merchandise exports by 2040," the Gem and Jewellery Export Promotion Council said in a release.
At the session, Commerce Secretary Rajesh Agrawal said that the real catalyst for elevating India's gems and jewellery sector from around $29 billion at the end of 2025-26 (Apr-Mar) to $100 billion by 2040 lies in building a comprehensive ecosystem driven by innovation, design, and global branding rather than basic manufacturing. "He stressed the need for India to move beyond low-margin OEM (Original Equipment Manufacturer) work and bridge the gap between institutions of learning and industry by partnering with academic incubators to address real-world industry challenges," the release said.
As such, the central theme of the deliberations was value addition, with emphasis on exporting finished, design-led and branded jewellery. The discussions also touched upon strengthening India's manufacturing capabilities, expanding market access and positioning 'Crafted in India' jewellery as a globally recognised proposition, the release said.
The deliberations also focused on an addressable market of $128 billion across the midstream and downstream segments and highlighted opportunities for India to expand its presence in high-value segments. "The discussions also centred around potential opportunities in areas such as the LGD+ (Lab-Grown Diamond) ecosystem, as well as gold mining and refining," the release said.
According to the export promotion council, the roadmap to achieve $100 billion in exports by 2040 includes doubling manufacturing output to approximately INR 15 trillion and expanding the sector's overall economic value to nearly INR 60 trillion. Gross exports of gems and jewellery during Apr-Jul were up over 2% on year to $9.17 billion, and imports fell more than 1% to $7.12 billion, according to the latest data.
The Gem and Jewellery Export Promotion Council, set up by commerce ministry, is one of several Export Promotion Councils launched by the government to boost the country's exports and foray into international markets. End
US$1 = INR 95.69
Reported by Priyasmita Dutta
Edited by Akul Nishant Akhoury
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
