India targets US$ 100 billion gems and jewellery exports by 2040: Commerce Secretary Mr. Rajesh Agrawal
- IBEF
- August 20, 2026
India is targeting Rs. 9.56 lakh crore (US$ 100 billion) in gems and jewellery exports by 2040, with innovation, design, branding and greater value addition identified as key drivers for transforming the sector into a global powerhouse. Commerce Secretary Mr. Rajesh Agrawal outlined the vision at the Chintan Shivir: 2040 Roadmap for Gems and Jewellery, organised by the Department of Commerce in association with the Gem & Jewellery Export Promotion Council (GJEPC). The roadmap aims to increase sector exports from around Rs. 2.47 lakh crore (US$ 28 billion) in FY26 to Rs. 9.56 lakh crore (US$ 100 billion) by 2040. The sector is projected to contribute 1.2% to India’s GDP and account for 14% of the country’s merchandise exports by 2040. India’s competitive advantage lies in its skilled workforce and craftsmanship, while greater emphasis is being placed on moving from low-margin original equipment manufacturing towards design-led, innovative and branded products. The roadmap also calls for strengthening human capital and adopting technologies such as artificial intelligence and 3D printing to enhance product differentiation.
The initiative focuses on increasing value addition and promoting finished, design-led and branded jewellery under the ‘Crafted in India’ proposition. Director General of Foreign Trade Mr. Lav Agarwal called for greater movement up the value chain and positioning India as a global destination for design and value-added jewellery. The roadmap is 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 sector’s manufacturing output is targeted to double to approximately Rs. 16.23 lakh crore (US$ 169.75 billion), while its overall economic value is projected to expand to nearly Rs. 64.92 lakh crore (US$ 678.97 billion). The Government and industry also emphasised the integration of India’s history, culture and stories into jewellery designs to strengthen the country’s global brand and soft power, alongside transparent and technology-driven trust networks. New free trade agreements, policy support and measures for MSMEs are expected to provide a foundation for expanding India’s global presence across the gems and jewellery value chain.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
