Sri Lanka is once again positioning its gem and jewellery industry for a larger role in international markets, but the real test will be whether the country can move beyond exporting precious stones and capture a greater share of the value generated through cutting, processing, jewellery manufacturing, design and branding.
The unveiling of “Gem Sri Lanka 2027” in Bangkok on 6 September has placed this challenge firmly on the industry agenda. Organised by the Ceylon Gem and Jewellery Traders Association (CGJTA), the event sought to build international momentum ahead of the fourth edition of the flagship exhibition scheduled for January 2027 in Sri Lanka.
The timing is significant. Sri Lanka’s gem industry possesses a major natural advantage through its globally recognised precious stones and centuries-old craftsmanship. Yet natural resources alone cannot guarantee sustained export growth in an increasingly sophisticated global jewellery market.
Industry Minister Sunil Handunnetti, speaking at the Bangkok launch, identified value addition, innovation and international collaboration as essential to strengthening the sector. His emphasis points to a fundamental weakness confronting Sri Lanka: the country must increasingly transform itself from a supplier of valuable stones into a competitive centre for higher-value gem processing and jewellery production.
Thailand provides a potentially important model and partner. Its established capabilities in gemstone processing, jewellery manufacturing, design, technology and international marketing could complement Sri Lanka’s strengths in gemstone resources and traditional craftsmanship.
The opportunity is already visible in bilateral trade figures. Sri Lankan exports to Thailand more than doubled in 2025, reaching more than US$90 million, compared with approximately US$41.6 million in 2024. Precious and semi-precious stones accounted for almost 70% of those exports.
That dramatic increase is encouraging, but it also raises a deeper question: how much of the value chain is Sri Lanka actually capturing?
If the bulk of exports continues to consist of stones that are subsequently processed, designed, marketed and sold elsewhere, Sri Lanka risks remaining concentrated in the lower-value segments of a much larger international business. The country would effectively be supplying the raw advantage while other markets capture the premium generated by technology, design, branding and retail.
The Bangkok initiative therefore needs to be viewed as more than an exhibition promotion exercise. It could become a strategic platform for technology transfer, professional training, joint ventures, research and international marketing partnerships.
Ambassador Wijayanthi Edirisinghe stressed Bangkok’s importance as a major international marketplace and highlighted opportunities for Sri Lankan companies to connect with buyers and establish commercial partnerships.
The proposed Gem Sri Lanka 2027 exhibition could consequently become a test of whether Sri Lanka can convert international interest into investment and long-term industrial partnerships.
The industry now needs measurable outcomes: increased value-added exports, greater jewellery manufacturing capacity, stronger branding of Sri Lankan stones, skilled workforce development and deeper international market penetration.
Sri Lanka has the gems. The unresolved question is whether it can capture the full economic value behind them.
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