Sri Lanka’s jewellery and gem industry has urged the government to urgently implement long-discussed reforms, warning that regulatory delays continue to constrain a sector with the potential to grow into a multi-billion-dollar export industry.
Industry leaders made the call at the opening of FACETS Sri Lanka 2026, the country’s flagship gem and jewellery exhibition, held last Saturday at Cinnamon Life.
Speaking at the inauguration of the 33rd edition of the event, Sri Lanka Gem and Jewellery Association President Akram Cassim said that while recent engagement with the government has been encouraging, the focus must now shift from dialogue to action.
Cassim told an audience of international buyers, diplomats, and local stakeholders that simplifying regulations, improving ease of doing business, and streamlining import and export procedures are essential for the sector to expand its contribution to foreign exchange earnings and create sustainable employment across the country.
“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,” he said.
Responding to the industry’s concerns, Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath outlined government plans to establish an International Trade Hub in Sri Lanka within the year. He said the initiative is intended to streamline trade facilitation and aligns closely with industry calls for greater efficiency.
The minister said policy reforms are already underway, pointing to the introduction of a new tax system aimed at supporting the gem and jewellery sector, along with commitments to modernize its digital infrastructure.
He added that the government is strengthening digital traceability and certification systems to ensure credibility of origin, compliance with international standards, and stronger investor and buyer confidence.
Herath emphasized that the government has identified the gem and jewellery industry, along with tourism, as a priority area for sustainable foreign exchange generation, and stressed the need to move towards higher-value exports and stronger global branding.
Both policymakers and industry leaders highlighted the potential to link gemstones more closely with tourism. Cassim called for closer collaboration with Sri Lanka Tourism to create an integrated visitor experience centered on the country’s gem heritage, citing the unique global reputation of the Ceylon Sapphire.
FACETS Sri Lanka Chairman Armil Sammoon said the exhibition represents more than trade activity, noting that the industry supports over half a million households across the island.
He described Sri Lanka’s long-standing identity as ‘Ratna-Deepa’, the Island of Gems, and said each gemstone on display reflects generations of craftsmanship and livelihoods rooted in history.
The exhibition, which began in 1991 with around 50 booths, has grown into a globally recognized platform. This year’s edition features dedicated Gem, Jewellery, and SME pavilions and is expected to attract a strong turnout of international buyers, serving as an important indicator of the sector’s resilience and future prospects.
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