India is targeting USD 100 billion in gems and jewellery exports by 2040, up from around USD 28 billion in 2025-26, as the government seeks to expand the country’s role beyond manufacturing and diamond processing into international trading, design and branded jewellery.
The roadmap 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, 2026.
A key element is the government’s push to attract international rough diamond trading to India. A 15-year income-tax exemption for eligible foreign companies trading rough diamonds through Special Notified Zones is scheduled to take effect from October 1, 2026, and remain in force until March 31, 2041. Eligible entities include foreign mining companies, sightholders, brokers, aggregators and tender and auction entities.
The initiative comes as India seeks to build on its established position as a major diamond cutting and polishing centre while increasing its participation in upstream and downstream segments.
Commerce Secretary Rajesh Agrawal said achieving the export target would require an ecosystem centred on innovation, global design leadership and trust. The roadmap also calls for a shift from low-margin OEM manufacturing towards original design, branded products and greater value addition.
Five priority missions identified at the Chintan Shivir cover global market access, MSME scale-up, faster export-import processes, Crafted by India, and next-generation talent and design.
The roadmap also identifies FTAs, AI, 3D printing, gold mining and refining, and emerging segments such as LGD+ as areas for future expansion. Manufacturing output is targeted to reach approximately Rs 15 lakh crore, while sector-wide economic value is projected at nearly Rs 60 lakh crore by 2040.
