A joint study by the Export-Import Bank of India (Exim Bank) and the Gems and Jewellery Export Promotion Council (GJEPC) has concluded that cluster-led reforms could significantly boost India’s gems and jewellery exports to US $75 billion by 2030 — nearly doubling current levels and unlocking huge unrealised potential in the sector.
The report, titled Making Gems and Jewellery Clusters Exportable, outlines how a cluster-focused approach — targeting policy, infrastructure, technology, and finance gaps across key producing regions — can enhance competitiveness and global market reach.
Key Highlights of the Study
-
Cluster strategy: Identifies and benchmarks 17 district-level clusters with export potential, with Mumbai Suburban, Surat, Jaipur, Kolkata, and Mumbai emerging as key hubs.
-
Unrealised export potential: India’s gems and jewellery exports could unlock an additional US $38 billion, nearly doubling the sector’s current performance.
-
Product diversification: The study recommends expanding into high-value products such as diamond-studded jewellery, luxury smart jewellery, synthetic gemstones, and cultured pearls to attract global demand.
-
Market expansion: Beyond traditional destinations, targeted efforts in emerging markets like Vietnam, Thailand, and Botswana, alongside developed regions including Europe and Singapore, can broaden export footprints.
Reform Priorities
-
Policy & incentives: Proposes extended state-level support, including subsidies, tax reimbursements, and simplified clearances to stimulate productivity and investment.
-
Infrastructure upgrades: Calls for hub-and-spoke Common Facility Centres, stronger SEZs in Cochin, Chennai, Surat, and Jaipur, and improved airport connectivity to ease logistics.
-
Skill & technology: Emphasises a Technology Upgradation Fund, stronger industry-academy tie-ups, and artisan training to reduce skill gaps and support innovation.
-
Trade facilitation: Highlights customs bottlenecks — like limited airside access and appraisal facilities in key cities — and urges adoption of risk-based sampling to ease delays.
Industry Outlook
Despite recent export declines and market volatility in some months, the study’s recommendations aim to modernise the value chain, lift export quality, and strengthen India’s global competitiveness in jewellery and gemstone markets.
The report positions cluster-led reforms as a potential game-changer for one of India’s oldest and most labour-intensive export industries, with policymakers and industry stakeholders expected to collaborate closely on implementation in the coming years.
