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India sets $100 billion gems and jewellery export target for 2040
Our read
India’s jewellery policy will accelerate the shift from low-margin processing toward branded, technology-enabled finished jewellery, favoring organized retailers and scaled manufacturers—though the 2040 export target will depend heavily on global demand and trade access.
For operators
India’s 2040 gems-and-jewellery roadmap creates a major runway for retailers to build branded, design-led assortments, modernize sourcing and tap a larger skilled manufacturing base.
Watch
Publication of detailed 2040 roadmap milestones, budget allocations, eligibility rules and implementation timelines for Special Notified Zone incentives.
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Which other rule changes affect Indian retailers this month?The report,
India’s Commerce Department and GJEPC outlined a 2040 roadmap to raise gems and jewellery exports to $100 billion through branded, design-led products, MSME scaling, market access, talent development, AI and 3D printing.
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Reported figures
From the report. Source details below
| Around $28 billion exports in | 2025-26 |
|---|---|
| 1.2% projected contribution to GDP by | 2040 |
| 14% projected share of merchandise exports by | 2040 |
| Employment target of | 1 crore people |
Also in the report
- Around Rs 15 lakh crore manufacturing-output target
- Nearly Rs 60 lakh crore overall economic-value target
- 15-year tax exemption on rough diamond sales through Special Notified Zones
Why it matters to operators and investors
Strategic buyers should assess partnerships or acquisitions in branded design, advanced manufacturing, diamond sourcing and export-capable MSME networks as policy incentives improve sector economics.