The Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), convened the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’ in Mumbai on 20th August 2026, outlining a comprehensive strategy to help India achieve USD 100 billion in gems and jewellery exports by 2040.
Quick Summary
- India aims to increase gems and jewellery exports from USD 28 billion in 2025-26 to USD 100 billion by 2040.
- Innovation, design leadership, global branding and trust were identified as key drivers of growth.
- The roadmap focuses on value addition and exporting finished, design-led and branded jewellery.
- Five priority missions cover global market access, MSME scale-up, export-import processes, branding and next-generation talent.
- India aims to evolve from an OEM manufacturing base into a global ODM and branding powerhouse.
- The roadmap envisages doubling manufacturing output to approximately ₹15 lakh crore.
- The sector’s overall economic value is projected to reach nearly ₹60 lakh crore.
- The sector is positioned as a key contributor to India’s Viksit Bharat vision.
Government-industry dialogue identifies priority missions to double employment to 1 crore and increase India’s share in global merchandise exports to 14 per cent
Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), today convened the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, a high-level dialogue aimed at developing a comprehensive strategy to help India achieve its ambition of USD 100 billion in gems and jewellery exports by 2040. The roadmap envisages an increase in exports from the current USD 28 billion recorded in 2025-26 to USD 100 billion by 2040. 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 by 2040.
Innovation, Global Design Leadership and Trust
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.
Human Capital, Advanced Technology and Indian Design
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.
Value Addition at the Centre of the 2040 Roadmap
The Chintan Shivir was organised under the guidance of Shri Piyush Goyal, Minister of Commerce and Industry. The central theme of the deliberations was value addition, with emphasis on exporting finished, design-led and branded jewellery. The discussions focused on strengthening India’s manufacturing capabilities, expanding market access and positioning ‘Crafted in India’ jewellery as a globally recognised proposition.
India Must Move Decisively Up the Value Chain
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.
GJEPC Highlights Policy Support and the Next Growth Opportunity
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.”
USD 128 Billion Addressable Market and Emerging Value Pools
The deliberations during the day also focused on an addressable market of USD 128 billion across the midstream and downstream segments and highlighted opportunities for India to expand its presence in high-value segments. The discussions also centred around potential opportunities in areas such as the LGD+ ecosystem, as well as gold mining and refining.
Five Priority Missions for the 2040 Roadmap
The Chintan Shivir was structured around five priority missions, each taken up in dedicated breakout sessions chaired jointly by senior Government officials and industry leaders.
Mission 1 — Global Market Access
Global Market Access was chaired by Director General, DGFT, Shri Lav Agarwal. The mission focused on leveraging India’s expanding FTA network and increasing India’s share in global jewellery consumption.
Mission 2 — MSME Scale-Up
MSME Scale-Up was chaired by Additional Development Commissioner, Ministry of MSME, Shri R.K. Rai, with CMD, ECGC, Shri Sristiraj Ambastha, as Co-Chair. The mission focused on enabling MSMEs, which form the backbone of the industry, to scale up through improved access to finance, technology and markets.
Mission 3 — Export-Import Fast Track
Export-Import Fast Track was chaired by Director General, DGEP, Shri Shiv Kumar Sharma. The mission focused on creating simpler, faster and more predictable cross-border processes.
Mission 4 — Crafted by India
Crafted by India focused on building global recognition and value for Indian jewellery through design, intellectual property and branding.
Mission 5 — Next-Generation Talent & Design
Next-Generation Talent & Design focused on developing the skills, design capabilities and talent pipeline required to support a USD 100 billion gems and jewellery industry.
From Traditional Strengths to Emerging Value Pools
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 envisages doubling manufacturing output to approximately ₹15 lakh crore and expanding 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 evolve from an OEM (Original Equipment Manufacturer) manufacturing base into a global ODM (Original Design Manufacturing) and branding powerhouse.
Government and Industry Leaders Deliberate on India’s Global Position
The Chintan Shivir brought together senior Government officials and industry leaders to deliberate on measures to strengthen 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.
About The Gem and Jewellery Export Promotion Council (GJEPC)
The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays into the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 11000+ members in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.
FAQs
What is India’s gems and jewellery export target for 2040?
India aims to increase gems and jewellery exports from USD 28 billion recorded in 2025-26 to USD 100 billion by 2040.
What are the key drivers identified for reaching USD 100 billion in exports?
Innovation, global design leadership, trust, value addition, advanced technologies, human capital and global branding are among the key drivers identified during the Chintan Shivir.
What is the central theme of the 2040 roadmap?
The central theme is value addition, with emphasis on exporting finished, design-led and branded jewellery.
What are the five priority missions of the Chintan Shivir?
The five missions are Global Market Access, MSME Scale-Up, Export-Import Fast Track, Crafted by India, and Next-Generation Talent & Design.
What manufacturing output is envisioned under the roadmap?
The roadmap envisages doubling manufacturing output to approximately ₹15 lakh crore.
What is the long-term vision for India’s gems and jewellery industry?
The sector aspires to evolve from an OEM manufacturing base into a global ODM and branding powerhouse.
Source: SVAR Media Network
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