India has set a target of increasing its gems and jewellery exports from $28 billion in 2025-26 to $100 billion by 2040, with value addition, design and global branding identified as key drivers at a high-level industry-government dialogue in Mumbai on August 20.
The Chintan Shivir – 2040 Roadmap for Gems & Jewellery, organised by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC), focused on strategies to strengthen India’s position across the global jewellery value chain.
Commerce Secretary Rajesh Agrawal said India’s growth opportunity lies in innovation, global design leadership and trust. He called for greater focus on design, technology and branding, alongside a move beyond low-margin OEM manufacturing.
The roadmap also envisages the sector contributing 1.2% of India’s GDP and 14% of total merchandise exports by 2040. Manufacturing output is projected to double to approximately ₹15 lakh crore, while the sector’s overall economic value could reach nearly ₹60 lakh crore.
The discussions were structured around five priority missions: Global Market Access, MSME Scale-Up, Export-Import Fast Track, Crafted by India, and Next-Generation Talent & Design.
GJEPC Chairman Kirit Bhansali said the industry’s next opportunity lies in accelerating value addition, expanding finished jewellery exports and leveraging India’s manufacturing capabilities. He also highlighted new FTAs, the 15-year tax exemption for rough diamond sales through Special Notified Zones and stronger MSME support as policy foundations for growth.
The roadmap also identified opportunities in the LGD ecosystem, gold mining and refining, while aiming to move India from an OEM manufacturing base towards a global ODM and branding hub.
