India Targets USD 100 Billion Gems & Jewellery Exports by 2040

Commerce Secretary Shri Rajesh Agrawal calls for greater value addition, innovation, design and global branding as India charts a roadmap to quadruple gems and jewellery exports.

Key Highlights

• India targets USD 100 billion in gems and jewellery exports by 2040.
• Exports are planned to rise from USD 28 billion in 2025-26 to USD 100 billion.
• The sector aims to contribute 1.2% to India’s GDP by 2040.
• India’s share of global merchandise exports is targeted to reach 14%.
• The roadmap places value addition, design, innovation and global branding at the centre of India’s growth strategy.
• The Government and industry aim to double employment to 1 crore.
• Manufacturing output is targeted to reach approximately ₹15 lakh crore.
• Five priority missions will focus on global market access, MSME scale-up, trade facilitation, Indian jewellery branding, and next-generation talent.
• India aims to move from an OEM manufacturing base towards a global ODM and branding powerhouse.
• Emerging opportunities identified include LGD+, gold mining and refining, alongside India’s established strengths in natural diamonds.

India has set an ambitious target of taking its gems and jewellery exports to USD 100 billion by 2040, with the Government and industry identifying value addition, innovation, design, global branding, technology and talent development as key priorities for the sector.

The roadmap emerged from the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, convened by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC) in Mumbai on 19 August 2026.

The roadmap seeks to raise gems and jewellery exports from USD 28 billion in 2025-26 to USD 100 billion by 2040. The sector is projected to contribute 1.2% of India’s GDP and account for 14% of India’s total merchandise exports by 2040.

Innovation, Design and Branding at the Centre of India’s Export Ambition

Speaking on the outcomes of the Chintan Shivir, Commerce Secretary, Government of India, Shri Rajesh Agrawal, said that the key catalyst for taking India’s gems and jewellery sector from around USD 29 billion to USD 100 billion lies in creating a comprehensive ecosystem built around innovation, global design leadership and trust.

He emphasised that India’s core strength lies in its vast pool of skilled craftspeople rather than domestic mining of gold, silver or rough diamonds.

According to the PR, Shri Agrawal stressed that greater wealth creation would come from design, innovation and global branding, rather than basic manufacturing. He also called for the industry to move beyond low-margin OEM work and strengthen links between educational institutions and industry through academic incubators that can address real-world industry challenges.

Technology and Skills to Drive Product Differentiation

The Commerce Secretary also emphasised the need to invest in human capital and advanced technology.

The roadmap highlights upgrading skills, making careers in craftsmanship more aspirational and using technologies such as Artificial Intelligence and 3D printing to create greater product differentiation.

India’s rich history, culture and stories can also play a greater role in jewellery design, according to the discussions, helping strengthen India’s soft power and create distinctive global positioning for Indian jewellery.

The Chintan Shivir also called for transparent and technology-driven trust networks across domestic and export markets, particularly as younger generations bring changing expectations to the jewellery buying experience.

Government and Industry Align on Value Addition

The Chintan Shivir was organised under the guidance of Shri Piyush Goyal, Minister of Commerce and Industry, with value addition emerging as the central theme of the deliberations.

The focus was on increasing exports of finished, design-led and branded jewellery, strengthening manufacturing capabilities, expanding market access and positioning ‘Crafted in India’ jewellery as a globally recognised proposition.

Shri Lav Agarwal, Director General, DGFT, said that India has already established a strong position in global gems and jewellery trade but must now move decisively up the value chain.

He highlighted the need to position India as a global brand and destination for design and value-added jewellery, while calling for a mission-mode approach involving Government and industry to create the right ecosystem, support new exporters and increase the global value of Indian jewellery.

Kirit Bhansali Highlights Policy Support and MSME Opportunity

Shri Kirit Bhansali, Chairman, GJEPC, said that India’s gems and jewellery industry is at an important inflexion point.

According to the PR, he highlighted the combination of new Free Trade Agreements, the 15-year tax exemption on rough diamond sales through Special Notified Zones and stronger support for MSMEs as an important policy foundation for future growth.

He emphasised that the next opportunity lies in accelerating value addition, increasing finished jewellery exports and leveraging India’s world-class craftsmanship and manufacturing capabilities.

He also stressed that achieving the USD 100 billion export ambition by 2040 will require Government and industry to work together to open new markets, scale MSMEs and create a distinct identity for Indian products.

Five Priority Missions for the 2040 Roadmap

The Chintan Shivir divided the roadmap into five priority missions, with dedicated breakout sessions jointly chaired by senior Government officials and industry leaders.

1. Global Market Access

Chaired by Shri Lav Agarwal, Director General, DGFT, this mission focused on leveraging India’s growing FTA network and increasing India’s share of global jewellery consumption.

2. MSME Scale-Up

Chaired by Shri R.K. Rai, Additional Development Commissioner, Ministry of MSME, with Shri Sristiraj Ambastha, CMD, ECGC, as Co-Chair, this mission focused on improving access to finance, technology and markets for MSMEs.

3. Export-Import Fast Track

Chaired by Shri Shiv Kumar Sharma, Director General, DGEP, this mission focused on creating simpler, faster and more predictable cross-border processes.

4. Crafted by India

This mission focused on strengthening the global recognition and value of Indian jewellery through design, intellectual property and branding.

5. Next-Generation Talent & Design

The fifth mission focused on developing the skills, design capabilities and talent pipeline required to support a USD 100 billion gems and jewellery industry.

USD 128 Billion Addressable Market Identified

The deliberations also identified an addressable market of USD 128 billion across midstream and downstream segments, highlighting opportunities for India to expand its presence in higher-value areas.

The discussions also examined potential opportunities in the LGD+ ecosystem, gold mining and refining, while retaining India’s leadership in traditional segments such as natural diamonds.

From OEM to Global ODM and Branding Powerhouse

The Chintan Shivir concluded with a commitment to consolidate India’s leadership in traditional segments while aggressively pursuing emerging value pools.

The roadmap envisages doubling manufacturing output to approximately ₹15 lakh crore and expanding the sector’s overall economic value to nearly ₹60 lakh crore.

The broader ambition is to transform India’s gems and jewellery industry from an OEM-oriented manufacturing base into a global ODM and branding powerhouse, positioning the sector as a key engine of India’s Viksit Bharat 2047 vision.

The Chintan Shivir brought together senior Government officials and industry leaders, including Shri Lav Agarwal, Shri Shiv Kumar Sharma, Shri Dnyaneshwar Patil, Shri Saket Kumar, Shri R.K. Mishra, Shri Sristiraj Ambastha, Dr. Tariq Thomas, Shri R.K. Rai, Dr. Shyam Kumar Barik and Shri Praveen Kumar.

From GJEPC, Shri Kirit Bhansali, Chairman; Shri Shaunak Parikh, Vice Chairman; Shri Sabyasachi Ray, Executive Director, along with members of the Committee of Administration, participated in the deliberations.