India’s 8% global gems, jewellery share has room to grow

India accounts for 8% of global gems and jewellery exports, excluding raw gold, but has immense scope to expand its presence beyond diamonds and jewellery, NITI Aayog Program Director Pravakar Sahoo said.

Addressing an inaugural session of the Gems & Jewellery Conference 2026 - India's Jewellery Moment: From Craft to Commerce, Innovation to Impact, he said, India has built significant strength in diamonds and jewellery, however, "there is considerable scope to expand into other product categories and strengthen its share in global markets through value creation, better design, branding and market diversification."

"India's gems and jewellery sector must move towards greater value addition, design, diversification and stronger global market positioning to unlock its next phase of growth," he added.

Also Read | Under-the-counter cash gold sales boom in India as high prices and taxes bite

Sahoo highlighted that the sector is a major source of employment and exports and contributes to economic growth and foreign exchange earnings. He added that India needs to improve productivity and competitiveness while preserving its traditional craftsmanship to strengthen its global presence.

He also called for reducing fragmentation in the industry, improving infrastructure and access to finance, strengthening transparency, and diversifying export and import markets amid changing global trade conditions.

According to Sahoo, "Countries without significant natural endowments have successfully built globally competitive jewellery ecosystems through infrastructure, processing and market development."

G R Anand Ananthapadmanabhan, chairman of the CII Gems & Jewellery Taskforce and managing director of GRT Group, called for collective efforts by industry, government and consumers to strengthen India's position in the global jewellery market.

Also Read | Gems, jewellery exporters rush to beat new US tariff deadline

Sandeep Kohli, Co-Chairman, CII Gems & Jewellery Taskforce and CEO, Novel Jewels (Aditya Birla Group Jewellery Division), said "India's next phase of growth must focus on moving from scale to value, manufacturing to design, and OEM capabilities towards ODM and global brands."

Emma Wade-Smith OBE, Senior Vice President, Government Affairs and Industry Relations at De Beers Group, stressed that "trust starts with transparency", calling for clear and consistent information on natural and laboratory-grown diamonds. She said stronger standards, technology and traceability could boost consumer confidence and India's position in the global diamond industry.