Sri Lanka sapphire hub plans are gaining momentum as the government announced its strategy to transform the nation into a world leader in the gem trade. Minister Sunil Handunnetti shared this vision during the International Gem Research Conference in Colombo.
Sri Lanka sapphire hub strategy unveiled as the government outlines bold plans to lead the global gem trade.
Sri Lanka is setting its sights on a bold new chapter in its gem industry as the government announced its commitment to positioning the island as the global Sri Lanka sapphire hub. The statement was made by Minister of Industry and Entrepreneurship Development Sunil Handunnetti at the third International Research Conference of the Gem and Jewellery Research and Training Institute (GJRTI), held at the Colombo Foundation Institute on October 10.
The initiative aims to leverage Sri Lanka’s long-standing legacy as one of the world’s most trusted sources of high-quality sapphires, elevating its reputation from a traditional gem exporter to a premier global trading hub. Industry experts say this strategy could unlock new opportunities for investment, innovation, and sustainable growth across the gem and jewellery value chain.
Minister Handunnetti emphasized that Sri Lanka’s mineral wealth, skilled craftsmanship, and historical prominence give it a unique advantage in the global sapphire market. He noted that turning Sri Lanka into a global sapphire hub requires not only capitalizing on its natural resources but also modernizing the entire industry ecosystem.
According to the minister, this includes enhancing research and development, upgrading gem cutting and polishing standards to meet international benchmarks, and encouraging collaborations between local artisans and global luxury brands. By positioning itself as a hub rather than just a supplier, Sri Lanka seeks to capture more value in the international gemstone trade.
Industry observers highlight that Sri Lanka’s sapphires have long held a coveted place in the global market due to their unique color, clarity, and quality. Renowned globally for producing the famous “Ceylon Sapphire,” the country’s gem industry has supplied stones to royal families, top jewellery houses, and high-end markets for centuries.
The government’s move comes at a time when the international luxury market is showing strong demand for ethically sourced and sustainably produced gemstones. With traceability and authenticity playing a central role in consumer choices, Sri Lanka’s transparent mining practices and ethical sourcing standards position it well to lead this global shift.
In his address, Minister Handunnetti stressed the importance of integrating education, technology, and innovation to strengthen the industry’s global competitiveness. The Gem and Jewellery Research and Training Institute will play a key role in driving this transformation, by supporting new research and skill development programs aimed at raising quality and efficiency.
Analysts note that positioning the country as a sapphire hub will also require investment in marketing and branding to build a stronger international presence. Trade promotion initiatives, targeted partnerships with luxury brands, and participation in major global jewellery fairs are expected to be part of the strategy.
Additionally, building a sapphire hub involves modernizing infrastructure and creating business-friendly policies to attract investors. The government aims to make Sri Lanka a destination where miners, dealers, designers, and global buyers can collaborate and transact seamlessly, creating a vibrant ecosystem similar to established gem trading centers like Bangkok and Dubai.
With global luxury jewellery markets rebounding and consumers increasingly valuing origin transparency, Sri Lanka’s sapphire hub ambition aligns well with industry trends. If implemented strategically, this initiative could enhance export earnings, generate employment, and cement Sri Lanka’s status as a leader in the world’s gemstone industry.
This announcement signals more than an economic plan—it reflects a renewed sense of national pride in Sri Lanka’s heritage as the home of some of the world’s most beautiful sapphires. By blending tradition with modern vision, the country is taking a confident step toward redefining its role in the global gemstone landscape.