India Unveils Road Map to Grow Jewelry Exports to $100 Billion by 2040

By JCK News Desk | August 21, 2026

India’s government and jewelry industry have adopted a long-term strategy aimed at increasing gem and jewelry exports to $100 billion by 2040 by emphasizing design, branding, innovation, and value-added manufacturing.

The plan to grow exports from the approximately $28 billion recorded in fiscal 2025–26 was unveiled during the Chintan Shivir, a high-level planning session organized by India’s Department of Commerce and the Gem & Jewellery Export Promotion Council (GJEPC).

The initiative signals a strategic shift away from competing primarily on manufacturing volume and toward higher-value products. Rajesh Agrawal, India’s commerce secretary, said the country must build “a comprehensive ecosystem driven by innovation, global design leadership, and trust” if it hopes to reach the export target.

Agrawal maintained that India’s competitive advantage lies in its large pool of skilled craftspeople, rather than access to raw materials such as gold or rough diamonds.

According to the GJEPC, a central theme of the road map is encouraging Indian manufacturers to move beyond lower-margin manufacturing to develop more distinctive design-led products. Discussions emphasized finished jewelry exports, intellectual property, branding, and the promotion of a “Crafted in India” identity in international markets.

Agrawal also highlighted the importance of investing in workforce development and adopting technologies such as AI and 3D printing to create differentiated products.

The road map includes five priority areas: expanding global market access, helping small and medium-sized businesses scale up, streamlining export-import procedures, building international recognition for Indian jewelry brands, and developing future talent and design capabilities.

Industry leaders said recent policy developments have created favorable conditions for growth. Kirit Bhansali, chairman of GJEPC, cited India’s new free-trade agreements, a 15-year tax exemption on rough-diamond sales through Special Notified Zones, and increased support for small businesses as factors that could help the sector expand exports and enter new markets.

The plan envisions the gem and jewelry sector accounting for 14% of India’s merchandise exports and contributing 1.2% of the country’s GDP by 2040.

The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then reviewed by staff writer David Blomquist.

(Photo: Getty Images)