India targets $100 billion gems and jewellery exports by 2040

India has unveiled a strategic roadmap to increase its gems and jewellery exports from an estimated $28 billion in 2025-26 to $100 billion by 2040. The initiative, discussed during the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’ in Mumbai, aims to transition the nation from a low-margin original equipment manufacturer (OEM) base to a global hub for design, innovation, and branded jewellery.

Commerce Secretary Rajesh Agrawal emphasized that growth will be driven by value addition, global design leadership, and trust. He highlighted the potential of advanced technologies, such as artificial intelligence and 3D printing, to create differentiated products. The roadmap includes five priority missions: Global Market Access, MSME Scale-Up, Export-Import Fast Track, ‘Crafted by India’ branding, and Next-Generation Talent & Design.

By 2040, the sector is projected to contribute 1.2% to India’s GDP and 14% of total merchandise exports. GJEPC Chairman Kirit Bhansali noted that free trade agreements (FTAs), policy support, and incentives for rough diamond sales through Special Notified Zones provide a strong foundation for this expansion.