India’s gems, jewellery exports have room to grow

India currently contributes 8% of global gems and jewellery exports, excluding raw gold, yet it possesses significant potential for expansion beyond diamonds and jewellery, according to NITI Aayog Program Director Pravakar Sahoo. Speaking at the inaugural session of the Gems & Jewellery Conference 2026 - India's Jewelery Moment: From Craft to Commerce, Innovation to Impact, Sahoo emphasized that India has developed solid capabilities in diamonds and jewellery, but there is ample room to broaden its product range and enhance its global market share through value creation, superior design, branding, and market diversification.

Sahoo underscored that the sector is a critical source of employment and exports, playing a crucial role in economic growth and foreign exchange earnings. He stressed the need for the industry to boost productivity and competitiveness while safeguarding its traditional craftsmanship to bolster its global standing. Sahoo also advocated for reducing industry fragmentation, enhancing infrastructure, improving access to finance, fostering transparency, and diversifying export and import markets amidst shifting global trade dynamics.

G R Anand Ananthapadmanabhan, chairman of the CII Gems & Jewellery Taskforce and managing director of GRT Group, called for concerted efforts from industry, government, and consumers to reinforce India's standing in the global jewellery market. Sandeep Kohli, Co-Chairman of the CII Gems & Jewellery Taskforce and CEO of Novel Jewels (Aditya Birla Group Jewellery Division), proposed that India's next growth phase should pivot from scale to value, moving from manufacturing to design, and from OEM capabilities to ODM and global brand development.

Emma Wade-Smith OBE, Senior Vice President of Government Affairs and Industry Relations at De Beers Group, stressed that trust begins with transparency. She called for clear and consistent information regarding natural and lab-grown diamonds, asserting that advanced standards, technology, and traceability could enhance consumer confidence and solidify India's position in the global diamond industry.