India’s gems and jewellery sector must move towards greater value addition, design, diversification and stronger global market positioning to unlock its next phase of growth, said Dr Pravakar Sahoo, Program Director, NITI Aayog, Government of India, addressing the inaugural session of the Gems & Jewellery Conference 2026 – India’s Jewellery Moment: From Craft to Commerce, Innovation to Impact, held today in New Delhi. The conference was organised by the Confederation of Indian Industry (CII) with support from the Department of Consumer Affairs, Ministry of Consumer Affairs, Food and Public Distribution, Government of India.
Dr Sahoo highlighted that India currently accounts for an 8 per cent share of global gems and jewellery exports, excluding raw gold, underscoring the country’s manufacturing and export capabilities. He noted that while India has built significant strength in diamonds and jewellery, there is considerable scope to expand into other product categories and strengthen its share in global markets through value creation, better design, branding and market diversification.
Emphasizing the importance of the sector to India’s wider economic ambitions, Dr Sahoo noted that gems and jewellery is both employment-intensive and export-oriented, making it an important contributor to India’s growth and foreign exchange earnings. He called for greater attention to productivity, competitiveness and the development of an ecosystem that can enable India to scale up in labour-intensive sectors while preserving its rich craftsmanship.
He also highlighted the need to address fragmentation in the industry, strengthen infrastructure and financing, build greater trust and transparency, and diversify India’s export and import markets amid changing global trade dynamics. Drawing attention to international examples, he noted that countries without significant natural endowments have successfully built globally competitive jewellery ecosystems through infrastructure, processing and market development.
Mr G R Anand Ananthapadmanabhan, Chairman, CII Gems & Jewellery Taskforce and Managing Director, GRT Group, underlined the deep economic and social significance of jewellery in India, describing it as much more than an adornment or investment. He noted that jewellery has historically served as a source of savings and financial security for Indian families, including during periods of economic distress. He called for collective support from industry, government and consumers to take Indian jewellery to the next level globally.
Mr Sandeep Kohli, Co-Chairman, CII Gems & Jewellery Taskforce and CEO, Novel Jewels (Aditya Birla Group Jewellery Division), said India’s next phase of growth must focus on moving from scale to value, manufacturing to design, and OEM capabilities towards ODM and global brands. He identified four key priorities for the sector — Trust, Technology, Tradition and Talent — and emphasized the need to leverage technology for consumer solutions and ease of doing business, preserve India’s diverse craftsmanship and invest in the next generation of skilled talent.
Ms Emma Wade-Smith OBE, Senior Vice President, Government Affairs and Industry Relations, De Beers Group, stressed that “trust starts with transparency”, calling for clear, accurate and consistent information for consumers purchasing natural and laboratory-grown diamonds. She highlighted the role of standards, communication, technology and traceability in strengthening consumer confidence and India’s leadership in the global diamond industry.
Mr Nirakar Chand, Managing Director, BullionX (Bullion Market Vertical), India Gold Metaverse (IGM), highlighted technology as an enabler for greater trust, transparency and efficiency across the gold and jewellery ecosystem. He outlined the potential of digital testing, integrated bullion trading, virtual marketplaces and blockchain-based solutions to address challenges related to trust, transaction costs, investment and market fragmentation.
The inaugural session also featured the release of the CII Report, “India’s Diamond Opportunity: Enabling Growth Across Natural and Lab Grown Diamonds.” Among the dignitaries present were Mr Pramod Agrawal, Chairman, National Gem & Jewellery Council of India, and Mr Shaunak Parikh, Vice Chairman, Gem and Jewellery Export Promotion Council (GJEPC), who also delivered special addresses.
30.9.2026
New Delhi