India is targeting $100 billion in gems and jewellery exports by 2040, up from around $28 billion in FY2025-26, as the government and industry work on a long-term roadmap for the sector.
The target was outlined by Commerce Secretary Rajesh Agrawal 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).
Agrawal said the sector’s growth will depend on building an ecosystem centred on innovation, global design leadership and trust. He called for greater value addition and a shift from low-margin original equipment manufacturing towards design-led and branded jewellery.
The roadmap envisages the sector contributing 1.2% of India’s GDP and accounting for 14% of merchandise exports by 2040. Manufacturing output is targeted to reach approximately Rs 15 lakh crore, while the sector’s overall economic value is projected at nearly Rs 60 lakh crore.
The Commerce Secretary also highlighted the need to strengthen the sector’s skilled workforce and promote technologies such as artificial intelligence and 3D printing. He urged the industry to incorporate India’s history, culture and stories into jewellery design to strengthen global branding.
DGFT Director General Lav Agarwal said India needs to move up the value chain, while GJEPC Chairman Kirit Bhansali described the sector as being at an important inflection point, citing policy support, free trade agreements and measures for MSMEs.
