Sri Lanka gem sector poised for growth through regulatory overhaul

The National Gem and Jewellery Association (NGJA) has thrown its weight behind a push for regulatory reforms aimed at revitalising Sri Lanka's precious stones and jewellery industry, which remains a significant contributor to the country's export earnings and employment.

According to the NGJA chief, streamlined regulations and modernised oversight frameworks are essential to remove bottlenecks that currently hinder sector growth and limit opportunities for local businesses to expand internationally. The proposed reforms would address licensing procedures, quality certification standards, and export documentation requirements that have long been identified as pain points for operators.

The call for regulatory modernisation comes as Sri Lanka seeks to strengthen its position as a reliable source of high-quality gemstones and jewellery products. Industry representatives argue that updated frameworks would enhance transparency, build consumer confidence, and enable local gem merchants and jewellers to compete more effectively with regional counterparts.

The NGJA has indicated that targeted reforms could boost export volumes, attract foreign investment, and create employment opportunities across the supply chain, from mining and cutting to retail and jewellery manufacturing. Officials are expected to engage with relevant government agencies to develop an implementation roadmap for the proposed changes.