Indian Gems & Jewellery Exports Predicted to Soar to $100 Billion by 2040
India's gems and jewellery sector is poised for significant growth, according to industry bodies. They predict that exports could reach $100 billion by 2040, up from $27.72 billion in FY 2025-26. This growth is expected to be driven by higher gold production from domestic mines and greater value addition.
Sachin Jain, Regional CEO of the World Gold Council, stated that over the next 5 to 7 years, nearly 20 to 25 per cent of India's gold consumption could come from domestic mines. He highlighted the potential for financialisation, innovation, and evolving consumer demand to unlock greater economic value.
Praveen Khandelwal, Member of Parliament and national secretary general of the Confederation of All India Traders (CAIT), noted that India enjoys a nearly $1 lakh crore trade surplus in the gems and jewellery sector. He emphasized the importance of upskilling artisans to boost India's global competitiveness.
The industry is also seeing a shift towards lightweight, studded, and design-led jewellery due to high gold prices. Atul Jain, General Secretary of the Delhi Jewellers Association, stated that over 50 per cent of retail business now comes through old gold jewellery exchange.