India Sets $100 Billion Gems and Jewellery Export Target for 2040

India is looking to raise gems and jewellery exports from around $28 billion in 2025-26 to $100 billion by 2040, according to an Economic Times report. 

Discussions around the $100 billion target took place at the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, organised jointly by the Department of Commerce and GJEPC. 

The meeting brought together government officials and industry representatives to discuss the sector's longer-term growth plans and the changes needed across manufacturing, exports, design, and skills. 

Manufacturing and Jobs 

By 2040, manufacturing output from the gems and jewellery sector is targeted to reach around ₹15 lakh crore, while its total economic value could be close to ₹60 lakh crore. 

Employment is expected to reach 1 crore people. The sector is projected to account for 1.2% of India's GDP and 14% of the country's merchandise exports by 2040. 

Technology and New Areas 

Artificial intelligence and 3D printing could play a larger role in designing and developing jewellery under the plan. There is also a push for educational institutions and the industry to work more closely on skills and product development. 

Alongside traditional jewellery, the government is looking at lab-grown diamonds, gold mining and refining. Designs based on India's cultural and traditional influences could also be developed for international buyers. 

5 Areas in the Roadmap 

The roadmap is based on 5 areas: global market access, MSME scale-up, faster export-import procedures, the ‘Crafted by India’ initiative, and next-generation talent and design. 

GJEPC Chairman Kirit Bhansali said recent free trade agreements, support measures for MSMEs and tax changes related to rough diamond trading had provided a base for the sector's future plans. 

More Focus on Value Addition 

Commerce Secretary Rajesh Agrawal said the industry needs to move beyond low-margin original equipment manufacturing. The government wants a larger share of exports to come from finished, design-led and branded jewellery. 

India's skilled craftspeople remain central to this plan. Agrawal also called for investment in training and plans to make jewellery-making a more attractive career option for younger workers. 

Read More: Delhi's EV Push: Ban on New CNG, Diesel, Petrol Vehicles Below 3,500 kg from January 1, 2027! 

Conclusion 

India's gems and jewellery sector has been given long-term targets for exports, manufacturing and employment under the 2040 roadmap. The plan covers market access, MSME growth, faster trade processes, design, technology and workforce development. 

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