[REVISION HISTORY]

Indian gems and jewellery industry development

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-29 05:52 UTC → 2026-09-30 18:12 UTC · added ~~removed~~

The Indian gems and jewellery sector is ~~experiencing both immediate consumer demand shifts and long-term strategic restructuring. Locally, the industry is seeing~~ undergoing a ~~surge in demand~~ structural transformation, driven by ~~festive and wedding seasons, with~~ a notable trend toward versatile pieces and lab-grown diamonds among younger consumers. On a national scale, the government has outlined a roadmap to increase gems and jewellery exports to USD 100 billion by 2040. This strategy involves transitioning from low-margin manufacturing to high-value design and branded products. To facilitate this, a 15-year income-tax exemption for eligible foreign companies trading rough diamonds through Special Notified Zones will begin on October 1, 2026. Additionally, leadership has called for Indian dominance across the entire lab-grown diamond ecosystem, from machinery production to global retail. Recent market data indicates a structural transformation as consumer habits shift from ~~viewing jewellery as a~~ traditional ~~savings instrument~~ savings-oriented purchases to ~~treating it as a frequent fashion accessory.~~ frequent, fashion-driven consumption. This evolution is ~~driven~~ led by a digitally native generation prioritizing personal ~~expression and~~ expression, aspirational ~~styling.~~ styling, and versatility. Key trends include the rising popularity of silver jewellery for everyday wear, ~~alongside interest in zodiac-inspired and~~ minimalist ~~designs. The~~ designs, and the growing economic impact of lab-grown diamonds. To support long-term growth, industry leaders and policymakers are calling for significant structural reforms. At a recent conference, experts emphasized the need to professionalize the sector by integrating formal education with skill-based training. Vinod Bamalwa of the Indian Chamber of Commerce noted a shortage of young artisans, suggesting that linking jewellery-making with recognized academic certifications could elevate the profession’s status and build a stronger talent pipeline. On a strategic level, NITI Aayog Program Director Pravakar Sahoo highlighted the opportunity to expand India’s 8% global share of gems and jewellery exports. He urged the industry to move beyond diamonds by focusing on value addition, improved design, branding, and market diversification. To remain competitive, Sahoo noted the necessity of reducing industry fragmentation, improving infrastructure, and enhancing access to finance while preserving traditional craftsmanship. The market, valued at approximately $85 billion in 2025, is projected to reach $130 billion by 2030. This growth is accompanied by a move toward organized retail and digital-first brands, which ~~is increasingly challenging~~ continues to challenge the traditional unorganized bazaar sector.

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