NEW DELHI : India aims to raise gems and jewellery exports to $100 billion by 2040, with design, global brands, technology and market access driving the roadmap. India is targeting $100 billion in gems and jewellery exports by 2040, more than three times the $27.72 billion recorded in 2025-26, as the government pushes the industry towards higher-value design, technology and globally recognised brands.
The target was outlined at the Chintan Shivir on the 2040 Roadmap for Gems & Jewellery, organised by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC) on August 19. The roadmap focuses on global market access, scaling up MSMEs, faster export-import processes, branding and next-generation talent and design.
Commerce Secretary Shri Rajesh Agrawal said achieving the target would require India to move beyond low-margin original equipment manufacturing and capture a larger share of value through innovation, design, technology and branding.
The longer-term aim is to transform India from predominantly a manufacturing base into a global hub for jewellery design, product development and brands.
Under the roadmap, manufacturing output is targeted to double to around Rs 15 lakh crore, while the sector’s overall economic value is envisaged at nearly Rs 60 lakh crore by 2040.
The industry is also targeting employment of 1 crore people, with the sector projected to account for 1.2 percent of GDP and 14 percent of India’s merchandise exports by 2040.
Agrawal called for greater investment in skilled manpower and technologies including artificial intelligence and 3D printing, alongside stronger collaboration between academic institutions and the jewellery industry. He also urged companies to draw more heavily on India’s cultural heritage while developing jewellery for global markets.
GJEPC Chairman Kirit Bhansali said recent trade agreements, policy support for MSMEs and tax reforms for rough diamond trading had created a stronger base for expansion.
A recently approved tax framework provides eligible foreign companies a 15-year income-tax exemption on income from rough diamond sales through India’s Special Notified Zones, applicable from October 1, 2026 to March 31, 2041.
The roadmap identifies five priority areas: global market access, MSME scale-up, faster export-import processes, the “Crafted by India” branding initiative, and development of next-generation talent and design.
The industry is also looking beyond traditional natural diamonds and jewellery towards areas including lab-grown diamonds, gold mining and refining.
The push comes as gems and jewellery exports show signs of improving. India’s gross exports rose 2.44 percent to $9.17 billion during April-July 2026, with studded gold jewellery exports jumping 21.09 percent to $2.24 billion. Cut and polished diamond exports, however, fell 8 percent during the period.
The 2040 strategy is ultimately aimed at retaining India’s manufacturing strength while capturing a larger share of the higher-margin design, branding and retail value chain.
