The Chintan Shivir – Roadmap 2040 combines export growth with measures aimed at attracting international diamond trade, building Indian jewellery brands and expanding global market access.
India is gearing up for a larger role in the global gems and jewellery trade, targeting $100 billion in exports by 2040. The goal is to introduce measures aimed at attracting international rough diamond trading, expanding global market access and moving Indian jewellery businesses towards original design and branding.
The target, up from around $28 billion in exports in 2025-26, was outlined at the ‘Chintan Shivir – 2040 Roadmap for Gems & Jewellery’, organised by the Department of Commerce with the Gem & Jewellery Export Promotion Council (GJEPC) on August 19.
For international players, the roadmap signals a broader shift in India’s role — from a major manufacturing and diamond-processing centre towards a market seeking greater participation across rough diamond trading, jewellery design, product development and branded exports.
Commerce Secretary Rajesh Agrawal said global design and innovation would be central to the transition.
A key part of the strategy is to attract more international rough diamond trading to India. The government has introduced a 15-year income-tax exemption for eligible foreign companies trading rough diamonds through Special Notified Zones (SNZs), effective from October 1, 2026 to March 31, 2041. The exemption covers foreign mining companies, sightholders, brokers, aggregators and tender and auction entities.
The move is aimed at addressing one of the barriers to international rough diamond trading in India, which already has a major position in global diamond cutting and polishing. GJEPC Chairman Kirit Bhansali said the exemption addresses a key barrier to establishing India as a global trading hub.
The roadmap also identifies free trade agreements, artificial intelligence and 3D printing as areas that could support the sector’s international expansion. India is also looking to use its design capabilities and cultural heritage to strengthen the positioning of Indian jewellery in overseas markets.
The 2040 target therefore extends beyond increasing export volumes. The strategy seeks to position India more prominently across the international gems and jewellery value chain, while creating conditions for global companies to trade, source and partner with Indian businesses.
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