💎 Sri Lanka Targets US$ 1 Bn Gem Exports, Pushes Global Hub Ambitions

The Government of Sri Lanka has launched a strategic initiative to transform its traditional gem and jewellery industry into a US$ 1 billion export sector and regional trading hub through regulatory reforms, value addition, and enhanced global marketing. • Key Figures & Targets: Gem and jewellery exports currently average around US$ 300 million annually. The newly launched National Export Development Plan (NEDP) sets a specific goal for the sector to reach US$ 1.2 billion within the next five years, up from US$ 388 million in 2025. • Growth Performance: The sector recorded a solid 8.7% YoY growth during the first four months of 2026. • Strategic Reforms: Key government interventions focus on formalizing the value chain, strengthening the surveillance capabilities of the National Gem and Jewellery Authority (NGJA) to curb smuggling, and addressing administrative and tax bottlenecks. Plans include establishing a dedicated Gem and Jewellery Experience Centre to link gemstone trading directly with tourism. • Broader Context: While traditional drivers like apparel & textiles and tea remain vital, the state is prioritizing diversification into high-value sectors, including ICT, automotive components, and mineral industries. As part of this push, the Gem City Ratnapura Exhibition 2026 is scheduled for August 31–September 2 to attract international buyers.