India’s Gems & Jewellery Exports to Hit $100 Billion by 2040

Commerce Secretary Rajesh Agarwal announced an ambitious target for India’s gems and jewellery sector, aiming for $100 billion in exports by 2040. This significant increase from $28 billion recorded in 2025-26 underscores a strategic shift towards global leadership and value creation.

Key Projections for Sector Growth

This growth trajectory positions the sector to become a substantial contributor to the national economy. By 2040, its impact is projected to be considerable, expanding its role in India’s overall economic landscape.

• Contribution to India’s GDP: 1.2%
• Share of total merchandise exports: 14%

Strategic Imperatives for Global Leadership

Agarwal emphasized that India’s core strength lies not in raw material extraction, but in its extensive pool of skilled craftspeople. Future wealth creation will increasingly derive from design innovation and global branding efforts, moving beyond basic manufacturing and low-margin OEM work.

To achieve these ambitious goals, a multifaceted approach is essential, focusing on enhancing capabilities and market presence. Several key areas require immediate attention and strategic investment to foster a comprehensive ecosystem.

• Bridging the gap between learning institutions and industry by partnering with academic incubators.
• Investing in human capital through skill upgrades and making careers in craftsmanship aspirational.
• Leveraging advanced technologies such as Artificial Intelligence and 3D printing for product differentiation.
• Integrating India’s rich history, culture, and stories into jewellery designs to strengthen the country’s soft power.
• Establishing transparent, technology-driven trust networks across domestic and export markets to respond to evolving preferences of younger generations.
• Developing greater risk appetite, addressing future-oriented industry challenges, and mentoring young talent.

Aligning with Viksit Bharat 2047 Vision

These strategic efforts are designed to build resilient supply chains and foster globally recognized Indian brands. This aligns directly with the broader national vision of Viksit Bharat 2047, aiming for a developed India powered by innovation and skilled industries.