Bangladesh’s jewellery industry has set an ambitious target of earning $7 billion annually from gold and diamond jewellery exports by 2030-31, as the sector seeks to transform itself into a modern, export-oriented industry. The target was announced by the Bangladesh Jewellers Association (BAJUS) at the BAJUS Jewellery Fashion Carnival 2026 in Dhaka.
BAJUS also aims to establish jewellery as Bangladesh’s second-largest foreign exchange-earning sector after ready-made garments. The association represents around 40,000 jewellery businesses and about 400,000 artisans, with nearly 2.8 million people directly and indirectly dependent on the sector.
To support export growth, BAJUS plans to establish 500 modern jewellery factories by 2030. The proposed facilities could create around 50,000 direct jobs and another 100,000 indirect jobs, while helping shift the industry towards large-scale, internationally competitive manufacturing.
The association has also called for the establishment of a specialised jewellery economic zone, ‘Swarnapalli’, near Dhaka. The proposed zone would include modern manufacturing facilities and a diamond-processing unit. BAJUS has sought 10 bighas of land for the project.
Diamond processing is expected to be an important part of the export strategy. BAJUS estimates that Bangladesh could generate around $2 billion annually from diamond jewellery exports by 2031 if necessary policy reforms are implemented. It has urged the government to update the 2006 regulations governing rough diamond imports and exports and bring duties closer to those of neighbouring countries.
BAJUS has further sought full implementation of the amended Gold Policy 2018, saying the reforms could generate an additional Tk2,000-2,500 crore in annual government revenue. It has also proposed allowing undisclosed gold holdings to be declared against a one-time fee, which it estimates could generate another Tk500-700 crore and help establish a digital database of gold holdings.
Commerce Minister Khandakar Abdul Muktadir has called for coordinated efforts to unlock the sector’s export potential. With policy reforms, new manufacturing capacity and greater focus on international markets, Bangladesh’s jewellery industry is seeking to turn the $7 billion target into a major new source of export earnings.