India has unveiled an ambitious roadmap to transform its gem and jewellery industry, aiming to boost exports to US$100 billion by 2040.
The strategic blueprint, jointly launched by the Department of Commerce and the Gem & Jewellery Export Promotion Council (GJEPC), marks a decisive pivot from low-margin contract manufacturing towards high-value design, innovation, and global branding. Under the plan, exports are projected to jump from US$28 billion recorded in the 2025–26 fiscal year to US$100 billion, eventually accounting for 14% of the country’s total merchandise exports and 1.2 percent of its GDP.
Speaking at a high-level summit, commerce secretary Rajesh Agrawal emphasised that India’s true strength lies not in raw materials, but in its vast pool of skilled artisans. To capture emerging markets, the strategy calls for integrating advanced technologies such as artificial intelligence and 3D printing, whilst promoting a distinct "Crafted in India" global identity.
The roadmap sets out five key priority areas, including expanding global market access through free trade agreements, scaling up small and medium enterprise support, and streamlining cross-border customs procedures. Industry leaders highlighted that recent tax exemptions for rough diamond sales and enhanced trade deals have established a solid foundation for growth. By pivoting towards original design manufacturing, India seeks to position its historic craftsmanship at the heart of the global luxury market.
12-10-2026
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