New Delhi [India], August 19 (ANI): India is targeting USD 100 billion in gems and jewellery exports by 2040, with the government stressing innovation, design, branding and greater value addition as key drivers for transforming the sector into a global powerhouse.
Commerce Secretary Rajesh Agrawal outlined the vision 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 Wednesday.
The roadmap seeks to increase the sector’s exports from around USD 28 billion recorded in 2025-26 to USD 100 billion by 2040.
“The real catalyst for elevating India’s gems and jewellery sector from around USD 28 billion to USD 100 billion lies in building a comprehensive ecosystem driven by innovation, global design leadership and trust,” he said.
The sector is projected to contribute 1.2 per cent to India’s GDP and account for 14 per cent of the country’s merchandise exports by then.
Agrawal said India’s competitive advantage lies in its skilled workforce and craftsmanship, and called for a shift from low-margin original equipment manufacturing towards design-led, innovative and branded products.
He emphasised the need to strengthen human capital, make careers in craftsmanship more aspirational and adopt technologies such as artificial intelligence and 3D printing to enhance product differentiation.
The Commerce Secretary also called for integrating India’s history, culture and stories into jewellery designs to strengthen the country’s global brand and soft power. He stressed the importance of transparent, technology-driven trust networks across domestic and international markets.
The Chintan Shivir focused on increasing value addition and promoting finished, design-led and branded jewellery under the ‘Crafted in India’ proposition.
Director General of Foreign Trade Lav Agarwal said India must move decisively up the value chain and establish itself as a global destination for design and value-added jewellery.
GJEPC Chairman Kirit Bhansali said the industry was at an important inflection point, with new free trade agreements, policy support and measures benefiting MSMEs providing a strong foundation for future growth.
The deliberations were structured around five priority missions: global market access, MSME scale-up, export-import fast track, ‘Crafted by India’, and next-generation talent and design.
The roadmap also envisages doubling manufacturing output to approximately Rs 15 lakh crore and expanding the sector’s overall economic value to nearly Rs 60 lakh crore.
The government-industry dialogue brought together senior officials and industry leaders to discuss measures to strengthen India’s position across the global gems and jewellery value chain and develop globally recognised Indian brands. (ANI)
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