Department of Commerce, in association with the Gem & Jewellery Export Promotion Council (GJEPC), 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.

Speaking on the outcomes of the Chintan Shivir, Commerce Secretary, Government of India, 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.

The Chintan Shivir was organised under the guidance of 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.

Chairman, GJEPC, 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.

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.

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 was chaired by Director General, DGFT, Shri Lav Agarwal. The mission focused on leveraging India’s 9 FTA network and increasing India’s share in global jewellery consumption.

Mission 2 — MSME Scale-Up was chaired by Additional Development Commissioner, Ministry of MSME, R.K. Rai, with CMD, ECGC, 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 was chaired by Director General, DGEP, Shiv Kumar Sharma. The mission focused on creating simpler, faster and more predictable cross-border processes.

Mission 4 — 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 focused on developing the skills, design capabilities and talent pipeline required to support a USD 100 billion gems and jewellery industry.

Courtesy: AOJ DESK NEWS