Ratnapura to be transformed into major global gem trade hub

The  Government is taking measures to increase Sri Lanka’s annual export revenue from the gem and  jewellery industry to US$ 3 billion and transform Ratnapura into a major global gem trading hub, Deputy Minister of Industry Chathuranga Abeysinghe said.

The Deputy Minister made these observations while participating in the Sri Lanka Gem and Jewellery Research Symposium 2026, held at the Silver Ray Hotel in Ratnapura yesterday. The symposium was jointly organized by the Gem and Jewellery Research and Training Division, the National Gem and Jewellery Authority, and the Sri Lanka Association of Gemologists.

Addressing the gathering, Deputy Minister Abeysinghe stated,  “We are integrating the research sector with the industry with the aim of taking Sri Lanka’s gem and jewellery industry towards an annual export target of US$ 3 billion. The short-term export potential of Sri Lanka’s gem and jewellery industry exceeds US$ 3 billion.

To achieve this target, the Government has taken steps to bring the research sector, the university system, and the entire industry value chain, which have operated separately up to now, onto a single platform. Over the past two years, one of the Government’s key objectives has been to integrate all sectors of the industry—from mining and cutting and polishing to trading, technological research, and the university system—so that they work as one interconnected ecosystem. We have now created the necessary environment to ensure that the research knowledge generated by our universities does not remain confined to academic papers, but is applied towards achieving practical success within the industry.

We have also taken steps to remove barriers to exports and address various legal, financial and tax-related issues that have affected new investments in the sector. In particular, we have removed obstacles that previously restricted access to the rough gemstones required by the gem-cutting and polishing industry. As a result, despite the challenges faced by the industry, Sri Lanka has earned US$ 236 million in export revenue so far this year. Approval and the support of the  President have been granted to establish a dedicated Gem and Jewellery Centre in the Kollupitiya area, bringing together all Government institutions and services that are currently dispersed across different locations under one roof. Through this initiative, both local and international clients, as well as researchers engaged in academic and scientific activities, will be able to access the necessary facilities and services at a single location.”

He said they were also working to transform Ratnapura, which possesses a rich traditional heritage and historical connection with gemstones, into a major global hub for the gem trade and  with the broader contribution of the Ministry of Tourism, they are also working to integrate tourism with the gem industry. In today’s international market, transparency, traceability of origin, and authenticity have become critically important factors in the gemstone trade. Over the next few years, the Government expects to acquire and develop technological and research capabilities comparable to those of internationally recognized countries such as Thailand, and thereby elevate Sri Lanka’s domestic gem industry to the highest level globally.

Source: Daily News