Commerce Secretary Rajesh Agarwal stated on Wednesday that building a comprehensive ecosystem driven by innovation, branding, and global design will help India's gems and jewellery exports reach $100 billion by 2040. According to official data, the sector's exports stood at $28 billion in 2025-26.
Addressing sector exporters at a Chintan Shivir, Agarwal projected that the industry will contribute 1.2 per cent to India's GDP and account for 14 per cent of the country's total merchandise exports by the year 2040. He emphasized that the real catalyst for reaching the $100 billion target lies in establishing global design leadership and trust.
Agarwal pointed out that India's primary strength is its vast pool of skilled craftspeople rather than domestic mining of gold, silver, or rough diamonds. He noted that greater wealth creation for the country will stem from design, innovation, and global branding rather than basic manufacturing activities alone.
To achieve this product differentiation, the Commerce Secretary called for increased investments in human capital and skill upgradation. He also highlighted the importance of leveraging advanced technologies, such as artificial intelligence and 3D printing, within the manufacturing and design processes.
Additionally, Agarwal suggested integrating India's rich history, culture, and narratives into jewellery designs to strengthen the nation's soft power globally. He underscored the need to establish transparent and technology-driven trust networks across both domestic and export markets to better align with the evolving preferences of younger generations.
The Chintan Shivir discussions were structured around five specific priority missions. These focus areas include Global Market Access, MSME scale-up, export-import fast-track, and skill development.
"Reaching the $100 billion export target by 2040 requires a structural shift from basic manufacturing to high-value design and branding. As highlighted by the Commerce Secretary, leveraging technologies like AI and 3D printing, alongside investing in skilled craftspeople, will be crucial for Indian MSMEs to capture global market share and build long-term consumer trust." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
