Loose natural diamond exhibitors at IIJS Bharat Signature 2026 noticed slower buying activity compared to earlier years, driven by the rise of laboratory-grown diamonds, higher gold prices, and tighter consumer spending. While volumes were impacted, exhibitors said natural diamonds continue to hold relevance, particularly when aligned with design, price points, and end-consumer expectations.

Regular participants and first-time exhibitors described the market as being in a transitional phase, with most expecting coexistence between natural and laboratory-grown diamonds in the coming years.

Here is a snapshot of views expressed by some of the key exhibitors.

Sejal Exports India | Chaitya Shah

Regular exhibitor

Sejal Exports India has been exhibiting at IIJS for close to 15 years. According to Chaitya Shah, there is a clear slowdown in loose natural diamond sales, compared to earlier years. He attributes this primarily to the growing demand for laboratory-grown diamonds. “Despite rising gold prices, diamond size usage in jewellery has not been impacted. All diamond sizes, whether large or small, continue to be used appropriately, depending on the jewellery design. The focus remains on correct stone-to-design matching, rather than reducing diamond sizes due to gold price pressure,” he said.

Shah maintained that while laboratory-grown diamonds have affected volumes, demand for natural diamonds has not disappeared. Natural diamonds will continue to find a place in the market alongside laboratory-grown ones, particularly in categories where authenticity and long-term value remain important, he added.

Divine Star | Sagar Patel

First-time exhibitor

According to Sagar Patel, sales of loose natural diamonds have declined, mainly due to the rapid rise of laboratory-grown diamonds. He added that higher gold prices have further increased the overall cost of diamond jewellery, making consumers more cautious. Disposable income among middle-class consumers aspiring to own diamond jewellery has not increased significantly; as a result, buying decisions are slower and more price-sensitive than earlier, Patel said.

“Many large export companies have entered the laboratory-grown diamond segment, prompting smaller exporters to follow the same path. This has changed the focus within the loose diamond trade. Demand for natural diamonds still exists, but buying activity is slower compared to previous years,” explained Patel.

IIJS Bharat Signature 2026 marked Divine Star’s first participation. Patel described the experience as positive, and confirmed the company plans to participate again next year.

Yamuna Diamond | Arpit Diyora

First-time exhibitor

Arpit Diyora said the company was satisfied with the overall response at the show, though he noted that the final day was slow and quiet. He observed a visible slump in the loose natural diamond trade, compared to earlier years. “The current phase reflects reduced buying momentum, rather than a lack of interest in the category. The market may stabilize by 2027 or 2028. While demand for laboratory-grown diamonds is increasing, natural diamonds will continue to grow alongside them, particularly in specific jewellery segments where they remain relevant,” he added.

Twara Diam | Vishal Vanja

First-time exhibitor

Vishal Vanja said his company was pleased with the response at IIJS Bharat Signature 2026. He stated that rising gold prices have directly impacted the loose natural diamond market. Preferences have moved towards smaller diamonds when it comes to lightweight jewellery, Vanja added.

“Diamonds in the 0.02 point-0.03 point range are now more commonly used to meet price expectations, especially for upper-middle and middle-class buyers facing higher overall jewellery costs. Larger diamonds continue to appeal mainly to HNI customers, for whom spending power is not an issue. Indian consumers still want to spend on gold and diamonds, and are accepting smaller diamond sizes, particularly in bridal jewellery, as long as the perceived value remains strong,” he said.

Design innovation plays a key role, with manufacturers using setting techniques that make smaller diamonds appear larger when set in jewellery, Vanja added.

As IIJS Bharat Signature 2026 comes to a successful end, loose natural diamonds remain relevant, with exhibitors adjusting to changing buying patterns through design, and coexistence with laboratory-grown diamonds.