India has set an ambitious target of taking its gems and jewelry exports to $100 billion by 2040, with the government looking to transform the sector into a stronger global industry through innovation, distinctive design, branding and increased value addition.
Commerce Secretary Rajesh Agrawal outlined the long-term vision during the “Chintan Shivir: 2040 Roadmap for Gems and Jewellery,” organized by the Department of Commerce in collaboration with the Gem & Jewellery Export Promotion Council. The strategy aims to significantly expand exports from about $28 billion in fiscal year 2026 to $100 billion over the next 14 years.
Under the proposed roadmap, the industry is expected to play a larger role in India’s economy. Its contribution could reach 1.2% of gross domestic product and represent 14% of the country’s merchandise exports by 2040.
India already has a major advantage in the sector because of its skilled workforce, established craftsmanship and manufacturing capabilities. However, policymakers are seeking a shift away from lower-margin manufacturing toward products built around original designs, innovation and internationally recognized Indian brands.
Technology is expected to play a central role in this transition. Artificial intelligence, 3D printing and other modern tools could help manufacturers develop distinctive products while improving design capabilities and product differentiation. At the same time, greater investment in human capital and next-generation talent will be needed to support the industry’s evolution.
The roadmap places particular emphasis on finished and design-focused jewelry under the “Crafted in India” proposition. Lav Agarwal, Director General of Foreign Trade, stressed the importance of moving higher up the value chain and establishing India as a leading international destination for design and value-added jewelry.
Five priority areas form the foundation of the strategy: expanding global market access, helping small and medium-sized enterprises scale, streamlining export and import procedures, developing “Crafted by India” products, and building next-generation talent and design capabilities.
The broader economic ambitions are also significant. Manufacturing output in the sector is targeted to nearly double to about $169.75 billion, while its overall economic value is projected to reach almost $678.97 billion.
Government and industry representatives also highlighted the importance of incorporating India’s cultural heritage, history and storytelling into jewelry design. Alongside new trade agreements, policy measures and support for smaller businesses, these efforts are intended to strengthen India’s international reputation and expand its presence throughout the global gems and jewelry value chain.
