India has significant potential to expand its diamond jewellery market, but consumer education and confidence remain critical to converting that opportunity into sales, according to Ajoy Chawla, Titan Company.
Speaking at GIA’s India in Brilliance event in Mumbai, Chawla said diamond-studded jewellery penetration in India remained between 12% and 14%, leaving considerable room for growth.
“Sure, the penetration of diamond-studded jeweltill remains at between 12–14% in the country, which means the headroom for growth is even better because of the younger audience, because of a more educated audience, because of an audience with a lot more money in their pockets, adornment growing at a certain rate as opposed to pure investment purchase,” he said.
Chawla’s assessment highlights an opportunity for manufacturers, retailers and brands to widen the consumer base for diamond jewellery, particularly as purchasing decisions increasingly extend beyond investment-led considerations to personal adornment.
Despite the market’s growth potential, Chawla identified a lack of consumer understanding as a significant barrier to diamond purchases.
“The biggest reason why people in India still don't buy diamonds is because they don't know how to buy a diamond,” he said.
He added that uncertainty about evaluating a diamond could discourage potential buyers. “They are not confident that the diamond will... will I get fooled by something,” he said.
For the trade, the remarks underline the importance of consumer education at the point of sale. Helping customers understand diamond quality, product characteristics and value can build confidence, particularly among first-time buyers who may be less familiar with the category.
Retailers and brands have an opportunity to make the buying process more transparent and accessible, addressing consumer concerns while developing demand beyond established diamond jewellery buyers.
Chawla said India’s economic growth momentum presented favourable conditions for the diamond jewellery industry, but stressed that the opportunity required investment in the right areas.
“I think we are in a fantastic place and we can only thank, many of us can thank that we are here at the right time, at the right place in India where India is on a certain growth momentum,” he said.
“These are rare circumstances and we would not be doing ourselves a favour if we miss this opportunity for want of investing in the right directions, whether it is education and confidence and trust,” he added.
His remarks place consumer awareness and trust at the centre of efforts to expand diamond jewellery consumption. With penetration remaining at 12–14%, the opportunity for the industry lies in converting potential buyers into confident customers through education, transparent communication and stronger retail engagement.
For the trade, expanding the market will require more than reaching existing buyers. Building understanding and trust among consumers who have yet to purchase diamond jewellery could be central to unlocking the category’s next phase of growth.