Editor’s Note
A new report highlights a significant opportunity for India’s gems and jewellery sector. By addressing key gaps, the industry could see exports surge to $75 billion by 2030, driving a broader transformation in logistics and high-value trade.
India’s gems and jewellery sector is poised for a significant export-led transformation, one that could also reshape the country’s secure logistics and high-value cargo ecosystem. A cluster-focused strategy addressing gaps in policy, infrastructure, technology, and finance could help propel exports to $75 billion by 2030, according to a joint study released on Thursday by the Export-Import Bank of India (Exim Bank) and the Gems and Jewellery Export Promotion Council (GJEPC).
The report identifies an unrealised export potential of nearly $38 billion and benchmarks 17 district-level clusters with strong export capabilities. Mumbai Suburban emerged as the top-performing cluster, while Surat, Mumbai, Kolkata, and Jaipur were named frontrunners, reflecting the geographic concentration of India’s jewellery manufacturing and trading activity.
As export ambitions scale up, the movement of high-value and time-sensitive cargo is expected to rise sharply. This will place greater emphasis on secure logistics, specialised warehousing, and air cargo infrastructure. Jewellery exports require stringent security protocols, faster customs clearance, and reliable last-mile connectivity, all of which will need parallel strengthening to support the sector’s growth.
Harsha Bangari, Managing Director of Exim Bank, highlighted the sector’s importance to India’s economic output, exports, and employment. She underlined the collaborative effort between Exim Bank and GJEPC in conducting a detailed cluster-level assessment.
To unlock this potential, the study recommends diversification into higher value-added segments such as diamond-studded jewellery, lightweight gold jewellery, luxury smart jewellery, imitation jewellery, synthetic gemstones, astrology-inspired designs, and cultured pearls. While these segments offer higher margins, they also increase the need for advanced logistics solutions capable of handling complex and high-risk shipments.
Market diversification is another central theme of the report. It points to emerging opportunities in Vietnam, Singapore, Thailand, Botswana, Russia, and Sri Lanka, along with developed markets in the European Union. Expanding into these regions will require exporters to navigate varied regulatory frameworks, further underscoring the importance of compliant and secure international logistics networks.
On the policy front, the study calls for stronger state-level incentives, including capital subsidies, SGST reimbursements, and faster regulatory clearances. It also suggests introducing design-led incentive schemes to foster innovation, supporting India’s efforts to move up the value chain and raise the average value of exports.
Infrastructure development emerges as a critical enabler. The study recommends adopting a hub-and-spoke model for Common Facility Centres, strengthening special economic zones in Cochin and Chennai, and expanding SEZ capacity in Surat and Jaipur. These measures could improve aggregation, security screening, and export readiness across key jewellery hubs.
The report also highlights customs-related bottlenecks that affect logistics efficiency. Limited airside access for custodians in Jaipur, inadequate appraisal facilities in Ahmedabad and Rajkot, and the absence of risk-based sampling mechanisms were identified as challenges that need to be addressed to ensure smoother export flows.
With India’s gems and jewellery sector targeting much larger milestones over the long term, including ambitions to surpass $100 billion in exports by 2047, closer alignment between manufacturing growth and secure logistics systems will be essential. As clusters expand and export volumes increase, the sector could act as a catalyst for a more sophisticated logistics ecosystem designed to move high-value cargo with speed, precision, and trust.
