The Indian gem and jewellery market, currently valued at Rs 7,37,035 crore ($85 billion), is expected to grow significantly to Rs 11,27,230 crore ($130 billion) by 2030, according to the Gem and Jewellery Export Promotion Council (GJEPC), the industry’s leading trade body.
GJEPC Chairman Vipul Shah said the council has invested Rs 150 crore ($17.3 million) to promote Indian diamonds globally. To strengthen this effort, GJEPC signed an agreement with De Beers Group on January 7, 2025 to form the Indian Natural Diamond Retailers Alliance (INDRA). The partnership will provide independent retailers in India with advanced tools, including artificial intelligence (AI), to carry out personalised marketing campaigns.
GJEPC is also working to expand its global presence. It plans to hold an exhibition in Saudi Arabia in September 2025. The event was aimed at strengthening trade relations between India and the Gulf Cooperation Council (GCC) region.
To boost exports, GJEPC signed an agreement with DHL Express to streamline the process of shipping Indian-made jewellery to the world. Shah expressed optimism about export growth in 2025, noting the potential benefits of geopolitical stability under the US President.
Domestically, GJEPC is working to develop Singur in West Bengal as a global hub for fashion and costume jewellery exports. Singur’s skilled workforce, including 20% women artisans, and proximity to Kolkata International Airport make it an ideal location for manufacturing. Shah stressed that changing global trade dynamics could create new opportunities for jewellery manufacturers in Singur to expand their presence in international markets.
The Indian gems and jewellery industry is poised for significant growth, driven by strategic partnerships, global outreach and expansion into domestic and international markets.
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