Polished Stones, Slow Reforms: Gem Industry Advances Despite Policy Drag

As Sri Lanka prepares to host FACETS Sri Lanka 2026, the country’s flagship gem and jewellery exhibition, industry leaders acknowledge a striking contrast. On one hand, the sector continues to command global attention for its gemstones and craftsmanship. On the other, long-standing policy and regulatory delays threaten to slow momentum at a time when global competition is intensifying.

Opening on January 3 at Cinnamon Life City of Dreams, Colombo, the 33rd edition of FACETS once again underscores the private sector’s ability to engage international markets. Organised by the Sri Lanka Gem and Jewellery Association (SLGJA), the exhibition showcases the industry’s depth, bringing together miners, cutters, manufacturers, designers, exporters and SMEs from across the country.

Despite this strength, industry stakeholders continue to highlight challenges linked to slow implementation of reforms. Issues related to licensing procedures, export facilitation, taxation processes and regulatory clarity remain unresolved, creating inefficiencies for businesses operating in an increasingly time-sensitive global market.

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