GJEPC charts out US$ 100 billion export vision for India’s gem and jewellery sector
- IBEF
- November 4, 2025
The Gem & Jewellery Export Promotion Council (GJEPC) has set a Rs. 8,87,700 crore (US$ 100 billion) export target for India’s gem and jewellery sector by 2047, outlining a long-term roadmap during a meeting chaired by Prime Minister Mr. Narendra Modi. Presenting the vision, GJEPC Chairperson, Mr. Kirit Bhansali, said India’s gem and jewellery industry, which currently contributes Rs. 2,66,310 crore (US$ 30 billion) in exports and employs over 42 lakh people, aims to become a global hub for gems and jewellery with a Rs. 44,38,500 crore (US$ 500 billion) domestic market by 2047. The sector contributes about 7% to India’s total merchandise exports. It remains one of the largest employment generators in the manufacturing sector.
He urged key reforms to enhance competitiveness, including concessional export credit for MSME units, interest subvention, and Export Credit Guarantee Corporation (ECGC) premium subsidies. He also recommended modernising the Customs Act, 1962, through a Risk Management System and Artificial Intelligence (AI)-driven digital appraisals to streamline procedures and reduce transaction costs. With 65% of studded jewellery exports originating from Special Economic Zones (SEZs), GJEPC called for the early passage of the SEZ Act amendment to permit limited domestic sales and optimise idle capacity. The council also proposed a National Gem & Jewellery Park Policy to attract global investment and strengthen domestic manufacturing ecosystems. He requested the government to release a White Paper on the sector to serve as a blueprint for policy and infrastructure reforms.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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