Retail Diamond Prices Likely to Remain Firm in India

Strong Demand and Rising Costs Point to a Robust Diamond Industry

Retail diamond prices in India are projected to stay firm, driven by increasing consumer demand, especially during weddings and festive occasions, according to global diamond giant De Beers. The company estimates that the Indian diamond retail market, currently valued at $8.5 billion, will more than double to $18 billion by 2030.

De Beers Sees Positive Outlook for Natural Diamonds in India

In a recent statement, Amit Pratihari, Managing Director of De Beers India, dispelled misconceptions about falling diamond prices. He emphasized that natural diamond prices are steadily climbing, with consistent growth witnessed across low to mid-range segments.

“Contrary to the general perception, prices for natural retail diamonds are rising steadily due to strong demand, particularly for wedding-related purchases,” said Pratihari.

Price Trends: Diamonds Become Costlier

The cost of low-carat natural diamonds has increased by ₹3,000 to ₹5,000 in the past year.
Overall, diamond prices have risen by 5-7%, indicating a stable and bullish retail trend.
This surge in demand and pricing stability is attributed largely to consumer trust in natural diamonds and the emotional value they carry, especially in cultural contexts like Indian weddings.

De Beers’ Strategy: Tapping into Tier-II and Tier-III Markets

Online Platform for Retailers Grows Rapidly

To strengthen its presence across India, De Beers has launched a dedicated platform for jewellery retailers and manufacturers, particularly those operating from smaller towns and semi-urban areas.

Over 1,200 jewellers and manufacturers have already joined the platform.
The company anticipates around 40,000 industry players will register in the coming years as interest spreads.

This outreach is aimed at democratizing access to natural diamond resources, education, and promotional tools, thus empowering small and mid-sized businesses.

AI-Driven Marketing Support for Jewellers

Personalized Promotions for Retailers

To further assist jewellers, De Beers will offer AI-based customized promotional content to help local retailers connect more effectively with customers.

AI tools will help retailers better understand consumer behavior and market trends.
The goal is to enable jewellers to enhance customer experiences, meet expectations, and improve brand trust.

De Beers has made it clear that only natural diamond retailers and manufacturers will be allowed to participate in the initiative, reinforcing their commitment to authenticity and premium quality.

No Competition from Lab-Grown Diamonds, Says De Beers

Separate Market Segments

Despite the growing presence of lab-grown diamonds in global markets, De Beers maintains that they do not pose a threat to their business.

“We do not see lab-grown diamonds as competition. They will cater to a completely different market where De Beers has no interest,” stated Pratihari.

This perspective underlines the company’s focus on capturing the mind space of aspirational, premium consumers who value the rarity and authenticity of natural diamonds.

Key Highlights of De Beers’ India Strategy

Bullet Points:

De Beers projects India’s retail diamond market to grow from $8.5 billion to $18 billion by 2030.
Retail natural diamond prices have increased by 5-7% in the past year.
Low-carat diamonds now cost ₹3,000 to ₹5,000 more than last year.
Over 1,200 jewellers already registered on De Beers’ online platform.
AI-powered promotions will support retailers in branding and customer engagement.
Initiative is open only to natural diamond sellers, excluding lab-grown diamond vendors.
Focused on Tier-II and Tier-III towns to penetrate untapped markets.
Lab-grown diamonds viewed as non-competitive in De Beers’ target segment.

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Conclusion: Bright Future Ahead for India’s Diamond Retail Sector

De Beers’ outlook and initiatives signal a strong growth trajectory for India’s natural diamond retail market. The company’s aggressive expansion into semi-urban and rural markets, combined with technology integration and strategic branding, could reshape the industry landscape.

With retail diamond prices in India expected to stay firm due to consistent consumer demand and rising input costs, the diamond market is poised for significant expansion. De Beers’ commitment to natural diamonds and focus on premium customer experience are likely to further enhance trust in this timeless gemstone.

As Indian consumers continue to value the cultural, emotional, and investment aspects of diamonds, especially in weddings, the industry looks set for a golden (or rather, sparkling) decade ahead.