The central government has set a target to export gems and jewellery worth up to USD 100 billion by 2040. This ambition aims to recognise and upskill lakhs of artisans, making them globally competitive in craftsmanship.
During the 14th edition of the Delhi Jewellery & Gem Fair (DJGF) in 2026, Praveen Khandelwal, Member of Parliament in the Lok Sabha, stated, “To achieve our export ambitions, the industry must strengthen its journey from ‘Vocal for Local’ to ‘Local to Global’ through investment, skill development, and greater value addition.”
Currently, India’s gems and jewellery sector exports approximately ₹2.5 lakh crore worth of goods, while imports stand at around ₹1.65 lakh crore. This reflects a strong export orientation and significant contributions to the country’s trade.
Khandelwal also emphasized the importance of recognizing and upskilling local artisans, whose craftsmanship directly impacts product quality and global competitiveness. “Building their capabilities will help Indian jewellery become more competitive and enhance its presence in international markets,” he remarked.
Experts predict that over the next 5 to 7 years, approximately 20 to 25% of India’s gold consumption could come from domestic mines, with jewellery exports targeted to reach USD 100 billion.
Pramod Derawala, Chairman of the National Jewellery and Gemstone Council of India (NJGCI), highlighted the growth opportunities in India’s jewellery sector and the necessity to strengthen the value chain.
He noted that the sector has significant growth potential in both manufacturing and exports, supported by government initiatives and increased market access through Free Trade Agreements (FTAs). “Countries with which India has signed FTAs import nearly USD 55 billion worth of jewellery, while India’s share is around USD 8 billion, indicating considerable scope for expansion,” Derawala explained.
Sachin Jain, Regional CEO for India at the World Gold Council, discussed the Viksit Bharat 2047 target, which envisions India’s economy growing from USD 4.5 trillion to USD 30 trillion.
He pointed out that the gold held by Indian households could unlock greater economic value. “With nearly 31,000 tonnes of gold owned by Indian households and a median age of 28 years, financialization, innovation, and evolving consumer demand can unlock greater economic value,” Jain stated.
The three-day event, held from September 26 to 28, 2026, organized by Informa Markets at Bharat Mandapam, brought together hundreds of exhibitors, manufacturers, wholesalers, retailers, distributors, exporters, and allied industry professionals from across India. “India’s jewellery industry continues to demonstrate its significance in the global market while undergoing a crucial period of transformation,” stated Yogesh Mudras, Managing Director of Informa Markets in India.
