The Indian market of diamond jewelry has a very high level of growth, and because of that India has become the second-largest market of diamond jewelry after the USA. In India, the growth rate of demand is around 12% annually, compared to 10% in 2019. This market is predicted to continue growing at around 12% annually and amounting to ₹1,520 billion in 2030.

Toranj Mehta, Country Head (Category Marketing) at De Beers India, told Amar Ujala.com that the demand for diamond jewellery in Indian markets has risen over the past few years. India now contributes 12 percent to global diamond jewellery demand, surpassing countries like China and Japan. She noted an increase in demand for natural diamond jewellery among Indian women; currently, 15 out of every 100 women purchase diamond jewellery, compared to 70 out of 100 people in the US. "We believe the allure of diamonds has grown in India over the last few years. Along with women, young consumers-specifically Millennials and Gen Z-now account for 86 percent of the value of India's natural diamond market."

"Recognizing this potential, we are focusing on the Indian market. To this end, we have partnered with major brands to boost diamond jewellery sales in the country. Additionally, we are collaborating with the Gem & Jewellery Export Promotion Council to reach smaller jewellers across the Indian market." They are working on boosting diamond jewelry sales while also focusing on manufacturing and integrating new technologies into the production process. A report by De Beers India Diamond indicates that the youth demographic views diamonds in terms of personality, authenticity, and emotional value, with consumers spending an average of ₹198,000 per diamond piece. The report projects that this market will grow at a robust CAGR of 12 percent, reaching ₹1,520 billion by 2030.

Recently, several branded jewelry retailers witnessed significant growth in the diamond jewelry category during Akshaya Tritiya sales. P.N. Gadgil reported a 61 percent year-on-year increase in its diamond segment. Meanwhile, Malabar Gold & Diamonds also saw a surge in sales during Akshaya Tritiya, with a 45 percent rise in studded jewelry.

Chetan Thadeshwar, Chairman and Managing Director of Mumbai-based Shringar House of Mangalsutra Ltd., notes that the sharp rise in gold prices over the past two years has significantly impacted jewelry purchasing patterns across various customer segments. While gold retains its traditional significance, consumers are now more budget-conscious and are seeking designs that offer greater value without compromising on aesthetics or quality. Consequently, there is a growing demand for lightweight jewelry-particularly in categories like mangalsutras, chains, and everyday wear-where consumers can continue purchasing gold despite higher prices. Instead of deferring purchases entirely, many buyers are opting for lower-weight, stylish pieces that align with their spending capacity. We are also observing rising demand for lower-karat gold jewelry, especially among younger customers who seek a balance between affordability, style, and suitability for daily wear.

Industry experts state that after a three-year period of price stagnation, the luster of natural diamonds has returned. Natural diamond prices have surged by 5 to 8 percent year-on-year due to supply constraints from major miners and rising investor interest. Prices for solitaire diamonds have risen by 5–8 percent annually, with a one-carat natural diamond selling for approximately ₹1.85 lakh; conversely, smaller diamonds face significant price pressure due to competition from lab-grown diamonds.

Colin Shah, Managing Director of Kama Jewelry, stated that solitaire diamonds are increasingly viewed as valuable assets, with younger generations-such as Gen Z and Millennials-driving demand. Their rarity gives them both aspirational value and investment potential. India plays a pivotal role in this sector, accounting for 12 percent of the global diamond demand by value. Experts note that pink diamonds have become extinct, and diamonds from the Golconda region are increasingly scarce; diamond discoveries have dwindled significantly over the past two decades. If demand in India rises by 25 percent, diamond supplies could face depletion.

The Indian market of diamond jewelry has a very high level of growth, and because of that India has become the second-largest market of diamond jewelry after the USA. In India, the growth rate of demand is around 12% annually, compared to 10% in 2019. This market is predicted to continue growing at around 12% annually and amounting to ₹1,520 billion in 2030.

Toranj Mehta, Country Head (Category Marketing) at De Beers India, told Amar Ujala.com that the demand for diamond jewellery in Indian markets has risen over the past few years. India now contributes 12 percent to global diamond jewellery demand, surpassing countries like China and Japan. She noted an increase in demand for natural diamond jewellery among Indian women; currently, 15 out of every 100 women purchase diamond jewellery, compared to 70 out of 100 people in the US. "We believe the allure of diamonds has grown in India over the last few years. Along with women, young consumers-specifically Millennials and Gen Z-now account for 86 percent of the value of India's natural diamond market."

"Recognizing this potential, we are focusing on the Indian market. To this end, we have partnered with major brands to boost diamond jewellery sales in the country. Additionally, we are collaborating with the Gem & Jewellery Export Promotion Council to reach smaller jewellers across the Indian market." They are working on boosting diamond jewelry sales while also focusing on manufacturing and integrating new technologies into the production process. A report by De Beers India Diamond indicates that the youth demographic views diamonds in terms of personality, authenticity, and emotional value, with consumers spending an average of ₹198,000 per diamond piece. The report projects that this market will grow at a robust CAGR of 12 percent, reaching ₹1,520 billion by 2030.

Recently, several branded jewelry retailers witnessed significant growth in the diamond jewelry category during Akshaya Tritiya sales. P.N. Gadgil reported a 61 percent year-on-year increase in its diamond segment. Meanwhile, Malabar Gold & Diamonds also saw a surge in sales during Akshaya Tritiya, with a 45 percent rise in studded jewelry.

Chetan Thadeshwar, Chairman and Managing Director of Mumbai-based Shringar House of Mangalsutra Ltd., notes that the sharp rise in gold prices over the past two years has significantly impacted jewelry purchasing patterns across various customer segments. While gold retains its traditional significance, consumers are now more budget-conscious and are seeking designs that offer greater value without compromising on aesthetics or quality. Consequently, there is a growing demand for lightweight jewelry-particularly in categories like mangalsutras, chains, and everyday wear-where consumers can continue purchasing gold despite higher prices. Instead of deferring purchases entirely, many buyers are opting for lower-weight, stylish pieces that align with their spending capacity. We are also observing rising demand for lower-karat gold jewelry, especially among younger customers who seek a balance between affordability, style, and suitability for daily wear.

Industry experts state that after a three-year period of price stagnation, the luster of natural diamonds has returned. Natural diamond prices have surged by 5 to 8 percent year-on-year due to supply constraints from major miners and rising investor interest. Prices for solitaire diamonds have risen by 5–8 percent annually, with a one-carat natural diamond selling for approximately ₹1.85 lakh; conversely, smaller diamonds face significant price pressure due to competition from lab-grown diamonds.

Colin Shah, Managing Director of Kama Jewelry, stated that solitaire diamonds are increasingly viewed as valuable assets, with younger generations-such as Gen Z and Millennials-driving demand. Their rarity gives them both aspirational value and investment potential. India plays a pivotal role in this sector, accounting for 12 percent of the global diamond demand by value. Experts note that pink diamonds have become extinct, and diamonds from the Golconda region are increasingly scarce; diamond discoveries have dwindled significantly over the past two decades. If demand in India rises by 25 percent, diamond supplies could face depletion.