Representative image showing jewellery.
Credit: DH File Photo
Mumbai: India’s gem and jewellery sector is targeted to surpass USD 100 billion in exports by 2047, said Kirit Bhansali, the Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the industry, which is undergoing a major transformation.
“In 2026, India steps boldly on the world stage, assuming the Kimberley Process Chairmanship for the third time, it is a resounding vote of confidence in our leadership, credibility, and dedication to ethical trade,” the GJEPC chief said at the 18th edition of IIJS Bharat – Signature 2026 at the Jio World Convention Centre (JWCC) in Mumbai.
“Poised to achieve the USD 100 billion export milestone by 2047, India's gem and jewellery sector has outgrown dependence on traditional markets. It will drive growth through Free Trade Agreements, robust government support, strategic diversification, manufacturing and technology innovation, and retail expansion,” he said.
“There is no better place to talk about the future of jewellery than India. From being the birthplace of the world’s diamond story to emerging as one of the fastest-growing markets today, India continues to be a pillar of stability and opportunity for the global gems and jewellery industry,” pointed out Sandrine Conseiller, CEO, De Beers, who inaugurated the IIJS Bharat – Signature 2026, one the most influential B2B jewellery trade fair being held from 8-11 January 2026.
"Gems and jewellery is a traditional yet dynamic sector with a significant contribution to India’s exports and employment. Strengthening infrastructure, improving awareness about financial products, addressing technology and skill gaps, and easing trade bottlenecks are critical for clusters to realise their full export potential,” added Harsha Bangari, Managing Director, EXIM Bank.
“As our industry grows, every stakeholder has benefited, but continued investment in skills and craftsmanship will be key to sustaining this momentum. With the industry expected to grow significantly in the coming years, the availability of skilled hands will become critical. Making artisans a priority is not charity, it is business prudence. If we want to be global leaders, dignity, pride and security for craftsmanship must sit at the centre of our growth story,” noted Saumen Bhaumik, Managing Director, CaratLane.
"As the first major international jewellery trade fair of the year, it is where the global industry turns to India for direction and opportunity. The scale of participation, growing international presence, and strong entry of new enterprises reflect the confidence of the trade—making IIJS Bharat – Signature the definitive platform where the global jewellery business year truly begins,” pointed out Shaunak Parikh, Vice Chairman, GJEPC.