Commerce Secretary Rajesh Agarwal on Wednesday said building a comprehensive ecosystem through innovation, branding, and global design will help gems and jewellery exports reach $100 billion by 2040.
The exports stood at $28 billion in 2025-26.
The sector is projected to contribute 1.2% to India's GDP and account for 14% of the country's total merchandise exports by 2040.
1 August 2026
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Addressing the sector exporters at a Chintan Shivir, the secretary said the real catalyst for elevating India's gems and jewellery sector to $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 called for investing in human capital, skill upgradation, 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.
The Shivir was structured around five priority missions, including Global Market Access, MSME scale-up, export-import fast-track, and skill development.
