Gem and jewellery industry calls for urgent implementation of reforms

• Urges govt. to prioritise execution of discussed regulatory reforms to boost exports
• Govt. announces plans for ‘International Trade Hub’ and highlights new tax structure
• Digital traceability and certification systems to be strengthened to ensure credibility

Industry leaders at the opening of FACETS Sri Lanka 2026 have called for the urgent implementation of key reforms discussed with the government to unlock the full potential of the country’s gem and jewellery sector, warning that regulatory delays are holding back a potential multi-billion dollar export industry.

Speaking at the inauguration of the 33rd edition of the exhibition held at Cinnamon Life last Saturday, Sri Lanka Gem and Jewellery Association (SLGJA) President Akram Cassim stressed that while the industry welcomes recent positive engagements with the government, the priority must now shift to execution.

“Over the past year, we have welcomed positive steps by the government and constructive engagement with the industry, which we sincerely appreciate. The priority now is the urgent implementation of the key reforms already discussed,” Cassim told the gathering of international buyers, diplomats, and local stakeholders.

He noted that simplifying regulations, improving the ease of doing business, and streamlining import-export processes are critical steps that will allow the sector to contribute more strongly to foreign exchange earnings while creating sustainable employment across the island.

Responding to the industry’s context, Foreign Affairs, Foreign Employment and Tourism Minister, Chief Guest Vijitha Herath outlined government plans to establish an “International Trade Hub” in Sri Lanka within the year - a move aimed at streamlining trade facilitation which aligns with the sector’s request for efficiency.

Minister Herath further reassured the gathering that policy reforms are already in motion, pointing to the recent introduction of a new tax system designed to support the industry, alongside a pledge to modernise the sector’s digital infrastructure.

“We are strengthening digital traceability and certification systems to ensure credibility of origin, compliance with international standards, and enhanced investor and buyer confidence,” Herath said. He emphasised that the government has identified the gem and jewellery sector, together with tourism, as a “priority area for sustainable foreign exchange earnings”.

Both the Minister and industry leaders highlighted the strategic opportunity to link gems with tourism. Minister Herath stated the government’s policy objective is to “move decisively towards higher value exports and stronger global branding”.

Echoing this, Cassim advocated for a collaborative approach with Sri Lanka Tourism to create a unique visitor experience. “The Ceylon Sapphire is a gem like no other. By working closely with Sri Lanka Tourism, we can offer visitors a meaningful Sapphire journey - from the gem mines of Ratnapura, through the gem markets of Beruwela, to the gem museums of Kandy,” Cassim said.

FACETS Sri Lanka Chairman Armil Sammoon emphasised that the exhibition is more than a trade show; it is a reflection of an industry that supports over half a million households.

“As you stand here today, I ask you to pause for just a moment. You are standing in Ratna-Deepa - the Island of Gems. We didn’t give ourselves this name, it is what the ancient world called us when traders, drawn by stories of Sri Lankan sapphires, first arrived on our shores,” Sammoon said.

He added that behind every stone at the exhibition lies a family and a legacy passed down through generations. “Here, you can trace the journey of our gemstones – from prehistoric deposits, through time-honoured marketplaces, and now, waiting to become part of your story,” he said.

The exhibition, which has grown from a modest 50 booths in 1991 to a globally respected platform, features Gem, Jewellery, and SME pavilions this year. It is expected to draw a significant number of international buyers, serving as a crucial barometer for the industry’s health and resilience.

Source : DailyMirror