Gems & Jewellery Sector Gets USD 100 Billion Export Roadmap for 2040

India has set an ambitious target of raising its gems and jewellery exports to USD 100 billion by 2040, up from approximately USD 28 billion recorded in 2025-26, as the government and industry work on a long-term roadmap to strengthen the sector.

The target was outlined at the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, organised by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC) on August 19. The initiative aims to position the sector as a major contributor to the country’s Viksit Bharat 2047 vision.

Commerce Secretary Rajesh Agrawal said innovation, design, global branding and trust would be critical to achieving the export ambition. He stressed that India’s competitive advantage lies in its skilled craftspeople rather than access to gold, silver or rough diamonds. Greater value creation, he said, would require moving beyond low-margin manufacturing towards design-led and branded jewellery.

Agrawal also called for greater investment in human capital and the adoption of technologies such as Artificial Intelligence and 3D printing. He highlighted the need to integrate India’s cultural heritage and stories into jewellery designs to strengthen the country’s global identity.

The roadmap envisages the sector contributing 1.2% of India’s GDP and accounting for 14% of total merchandise exports by 2040. Manufacturing output is expected to double to nearly ₹15 lakh crore, while the sector’s overall economic value could reach around ₹60 lakh crore.

Five priority missions were identified during the deliberations: Global Market Access, MSME Scale-Up, Export-Import Fast Track, Crafted by India, and Next-Generation Talent & Design.

The government and industry also discussed expanding finished jewellery exports, strengthening MSMEs, leveraging India’s growing FTA network and exploring emerging opportunities in lab-grown diamonds, gold mining and refining.

Officials said the long-term objective is to transform India from an OEM manufacturing base into a global ODM and jewellery branding powerhouse, while creating employment opportunities and increasing India’s presence across international markets.