Archive · 9 Jan 2026
India's Diamond Market Set to Double by 2030
India's love for diamonds is so strong that the market is expected to double by 2030.
Even though there are problems in the global market, like high taxes between the US and India, people in India still really like diamonds.
De Beers, a big diamond company, is opening more stores in India and teaching people about the difference between real diamonds and ones made in labs.
They believe that Indians will keep choosing real diamonds for special moments.
The company is also investing a lot in marketing and expanding its stores to reach more people.
India's diamond market is projected to double by the end of the decade.
Diamond demand in India has grown by 11% over the past year, marking four consecutive years of double-digit growth.
Retail diamond prices in India and the US have remained stable for five years, despite pressure in the rough diamond segment due to US-India trade tensions.
De Beers is expanding its Forevermark brand in India, planning to open 25 stores by the end of the year, focusing on Tier 1 and Tier 2 cities.
The market for lab-grown diamonds is segmented, with demand for low-cost options, but De Beers remains confident in the long-term appeal of natural diamonds.
- Who
- De Beers Group, led by CEO Al Cook
- What
- India's diamond market is projected to double by 2030
- When
- Growth expected by the end of the decade
- Where
- India, with a focus on Tier 1 and Tier 2 cities
- Why
- Strong cultural connection, economic growth, and strategic investments by De Beers
- Projected Growth
- Double by 2030
- Current Growth
- 11% over the past 12 months
- Retail Prices
- Stable in India and US for 5 years
- Rough Diamond Pressure
- Due to US-India trade tensions and tariffs
- De Beers' Expansion Plan
- From 5 to 25 Forevermark stores by year-end
- Lab-Grown Diamonds
- Segmented market with demand for low-cost options
- De Beers' Strategy
- Focus on marketing, brand-building, and retail expansion
- Key Markets
- Tier 1 and Tier 2 cities beyond Delhi and Mumbai