Commerce Secretary Unveils 2040 Roadmap for USD 100 Billion Gems & Jewellery Exports

Innovation, Design and Global Branding Identified as Key Drivers for India’s USD 100 Billion Export Target

The Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), held the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’ on 20th August 2026. The discussions were aimed at establishing a comprehensive strategy to achieve India’s ambition of USD 100 billion in gems and jewellery exports by 2040.

The roadmap targets an increase in exports from the current USD 28 billion recorded in 2025-26 to USD 100 billion by 2040. By that time, the sector is projected to contribute 1.2 per cent to India’s GDP and account for 14 per cent of the country’s total merchandise exports.

Speaking on the outcomes of the Chintan Shivir, Commerce Secretary, Government of India, Shri Rajesh Agrawal, said that the real catalyst for elevating India’s gems and jewellery sector from around USD 29 billion to USD 100 billion lies in building a comprehensive ecosystem driven by innovation, global design leadership and trust. He emphasised that India’s strength lies not in mining gold, silver or rough diamonds, but in its vast pool of skilled craftspeople, and said that greater wealth creation would come from design, innovation and global branding rather than basic manufacturing.

He stressed the need for India to move beyond low-margin OEM work and bridge the gap between institutions of learning and industry by partnering with academic incubators to address real-world industry challenges.

Shri Agrawal further emphasised the need to invest in human capital by upgrading skills, making careers in craftsmanship aspirational and leveraging advanced technologies such as Artificial Intelligence and 3D printing to achieve product differentiation. He said that India’s rich history, culture and stories should be integrated into jewellery designs to strengthen the country’s soft power, while transparent and technology-driven trust networks should be established across domestic and export markets to respond to the evolving preferences of younger generations.

He also called for developing greater risk appetite, addressing future-oriented industry challenges and mentoring young talent to build resilient supply chains and globally recognised Indian brands aligned with the vision of Viksit Bharat 2047.

The Chintan Shivir was organised under the guidance of Shri Piyush Goyal, Minister of Commerce and Industry. Value addition remained the central focus, with discussions emphasising the export of finished, design-led and branded jewellery. Deliberations also covered ways to strengthen manufacturing capabilities, widen market access and establish ‘Crafted in India’ jewellery as a globally recognised proposition.

Director General, DGFT, Shri Lav Agarwal, said that India has already established a strong position in the global gems and jewellery trade and must now move decisively up the value chain. He emphasised the need to position India as a global brand and a destination for design and value-added jewellery.

He also stressed the importance of a mission-mode approach, with Government and industry working together to create the right ecosystem, support new exporters and build the global value of Indian jewellery.

Chairman, GJEPC, Shri Kirit Bhansali, said that India’s gem and jewellery industry stands at an important inflexion point, with new FTAs, the 15-year tax exemption on rough diamond sales through Special Notified Zones and stronger support for MSMEs providing a strong policy foundation for growth.

He emphasised that the next opportunity lies in accelerating value addition, expanding finished jewellery exports and leveraging India’s world-class craftsmanship and manufacturing capabilities. He added that achieving the ambition of USD 100 billion in exports by 2040 would require Government and industry to work together to unlock new markets, scale MSMEs and build a distinct identity for Indian products.

The deliberations also examined an addressable market of USD 128 billion across the midstream and downstream segments, with discussions highlighting opportunities for India to increase its presence in high-value segments. Potential opportunities in the LGD+ ecosystem, as well as gold mining and refining, were also discussed.

The Chintan Shivir was organised around five priority missions, which were addressed through dedicated breakout sessions jointly chaired by senior Government officials and industry leaders.

Mission 1 — Global Market Access: Chaired by Director General, DGFT, Shri Lav Agarwal, this mission examined ways to leverage India’s expanding FTA network and increase India’s share in global jewellery consumption.

Mission 2 — MSME Scale-Up: Chaired by Additional Development Commissioner, Ministry of MSME, Shri R.K. Rai, with CMD, ECGC, Shri Sristiraj Ambastha, as Co-Chair, this mission focused on enabling MSMEs, which form the backbone of the industry, to scale through improved access to finance, technology and markets.

Mission 3 — Export-Import Fast Track: Chaired by Director General, DGEP, Shri Shiv Kumar Sharma, the mission addressed the need for simpler, faster and more predictable cross-border processes.

Mission 4 — Crafted by India: This mission focused on strengthening global recognition and value for Indian jewellery through design, intellectual property and branding.

Mission 5 — Next-Generation Talent & Design: The mission examined the skills, design capabilities and talent pipeline required to support a USD 100 billion gems and jewellery industry.

The Chintan Shivir concluded with a commitment to consolidate India’s leadership in traditional segments such as natural diamonds while aggressively capturing emerging value pools. The roadmap targets a doubling of manufacturing output to approximately ₹15 lakh crore and an expansion of the sector’s overall economic value to nearly ₹60 lakh crore.

The deliberations positioned the gems and jewellery sector as a key engine of India’s Viksit Bharat vision, with the sector aspiring to transition from an OEM (Original Equipment Manufacturer) manufacturing base into a global ODM (Original Design Manufacturing) and branding powerhouse.

The Chintan Shivir brought together senior Government officials and industry leaders to discuss measures for strengthening India’s position in the global gems and jewellery value chain.

The event was attended by Shri Lav Agarwal, Director General, DGFT; Shri Shiv Kumar Sharma, Director General, DGEP; Shri Dnyaneshwar Patil, Development Commissioner, SEEPZ; Shri Saket Kumar, Joint Secretary, Department of Commerce; Shri R.K. Mishra, Additional DGFT; Shri Sristiraj Ambastha, CMD, ECGC; Dr. Tariq Thomas, Director, Department of Commerce; Shri R.K. Rai, Additional Development Commissioner, Ministry of MSME; Dr. Shyam Kumar Barik, Deputy Controller, CGPDTM, DPIIT; and Shri Praveen Kumar, Senior Director, BIS.

From GJEPC, Shri Kirit Bhansali, Chairman; Shri Shaunak Parikh, Vice Chairman; Shri Sabyasachi Ray, Executive Director, along with members of the Committee of Administration, also participated in the deliberations.