Sri Lankan officials have unveiled plans to develop Ratnapura into a global centre for gem processing and jewellery export, aiming to generate $2 billion in annual export revenue through value-added products.
The government has set its sights on transforming Ratnapura into an international gem and jewellery destination, according to Industry and Entrepreneurship Development Minister Sunil Handunnetti. Speaking at the opening of the "Gem City Ratnapura 2026" international exhibition on Monday, Handunnetti outlined a vision that extends beyond simply exporting locally mined gems to establishing Ratnapura as a processing and value-addition centre for imported stones destined for global markets.
The three-day exhibition, now in its third consecutive year, drew international investors and buyers from the United States, China, Japan, Thailand, India and Spain. Officials view the event as a platform for small and medium-scale entrepreneurs to connect with overseas markets. Foreign Affairs Minister Vijitha Herath indicated the government plans to leverage its diplomatic network abroad to promote Sri Lankan sapphires and other gems, while simultaneously exploring tourism linkages to attract foreign investment and create employment opportunities.
Beyond commercial objectives, government officials emphasised broader developmental priorities. Handunnetti stressed the importance of environmental sustainability, women's participation and empowerment, and transparency standards within the sector. The government has set an ambitious target of $2 billion in annual export revenue from value-added gem and jewellery products. The initiative was organised by the National Gem and Jewellery Authority and the Lanka Gem Dealers and Miners Association, with attendance from provincial governors, parliamentarians and industry representatives.