DGFT summit highlights India’s gem and jewellery export potential

The Directorate General of Foreign Trade highlighted India’s gem and jewellery export potential at its ‘E-commerce Export Summit’ at the Pragati Maidan’s Bharat Mandapam in New Delhi. The trade event saw participation from the Gem and Jewellery Export Promotion Council and featured an address by GJEPC executive director Sabyasachi Ray.

On March 11, the DGFT explored ways to expand global sales through e-commerce for industries including jewellery, the GJEPC announced on its website. In his address, Ray highlighted the importance of online sales for fuelling export growth as part of the government’s wider plan to reduce India’s trade deficit.  

Ray emphasised that e-commerce presents a significant opportunity for India’s gem and jewellery sector due to the industry’s low-volume, high-value nature. This makes it well-suited for cross-border trade and offers scalability and accessibility for exporters. “Businesses are bound to grow in the foreseeable future through e-commerce,” said Ray, the GJEPC announced on its website. 

He also outlined recent foreign trade policy reforms that have facilitated online exports over the past two years. These regulatory measures, he noted, have contributed to India’s gem and jewellery exports reaching $38 billion, with a long-term projection to grow to $100 billion by 2047, largely driven by digital trade.

To enhance competitiveness, Ray advised exporters to identify key product markets and align with consumer preferences to drive repeat sales. Ray also highlighted the GJEPC’s recent initiatives, including partnerships with e-commerce platforms such as Ebay and Amazon, as well as logistics provider DHL, to streamline online trade for Indian jewellers.