The Bharat Diamond Bourse (BDB) has long been the beating heart of India’s diamond trade. On September 24, 2025, its Leadership Series 2025 brought together a mix of global experts, seasoned jewellers, and next-generation entrepreneurs under the banner “Polishing Our Future”.
The day-long programme, held at BDB’s headquarters in Mumbai’s Bandra Kurla Complex, featured keynote sessions, panel discussions, and spirited Q&As. Voices from across the value chain — including Tom Moses of GIA, Liang Weizhang of HubWis Strategic Creations, Pratap Kamath of Abaran Timeless Jewellery, Mithun Sacheti of CaratLane, and Olivia Landau of The Clear Cut — debated the trends, challenges, and opportunities facing the trade.
The themes were wide-ranging: technology’s impact on grading and transparency, the evolving coexistence of natural and lab-grown diamonds, the shifting dynamics of India and China, customization as a new standard, social media and omnichannel realities, and the urgent need for consumer education. Together, they painted a nuanced picture of where the industry stands, and where it must go.
Cut Grading: A Game-Changer for Fancy Shapes
The day opened with a forward-looking announcement by GIA’s Executive Vice President, Tom Moses. He revealed that by 2026–27, GIA aims to introduce a predictive cut grading system for fancy-shaped diamonds.
“Fancy shape diamonds will now be on a level playing field. This move will be transformational for our industry, and for fancy-shaped diamonds,” Moses said. By bringing standardized grading to ovals, pears, cushions, and other popular shapes, manufacturers will be able to optimize rough usage, retailers will gain credibility, and consumers will make more confident choices.
Lab-Grown Diamonds: Expanding the Pie
While natural and lab-grown diamonds are often positioned in opposition, speakers emphasized that the future lies in parallel growth. Moses told the audience to reframe the conversation, saying, “How do we make that $80 billion natural diamond industry into $100 billion or more? By using creativity and innovation, so natural and laboratory-grown diamonds can grow the overall pie together.”
This sentiment echoed through the day. Lab-grown diamonds, already scaling to ~60 million carats annually, are increasingly accepted as manufactured products. Panellists noted that their affordability and versatility open up new creative avenues for design, potentially expanding overall jewellery consumption, rather than cannibalizing natural sales.
Yet, challenges remain. As Landau of The Clear Cut observed, lab-grown diamonds currently enjoy a clearer narrative. “If you walk into a cocktail party with a lab-grown ring, you can say it is ethical and sustainable. But if you have a natural diamond, what is your story to tell? That is where education is missing,” she said.
Her point underlined the need for natural diamonds to double down on storytelling — around origin, rarity, and value preservation — if they are to sustain their premium positioning.
India and China: Balancing Competition with Collaboration
Another key theme was the evolving relationship between India and China, the two major centres of diamond consumption and processing. Weizhang highlighted the fact that between 2021 and 2024, diamond jewellery’s share in China dropped dramatically — from 14% to just 6% — while gold surged to 73%. Encouragingly, he noted, “In 2025, we are finally seeing signs of a rebound.”
He also stressed the need for strategic foresight in geopolitics and trade, saying, “Navigating tariffs is no longer just about trade. It is about foresight, adaptability, and collaboration.” With both India and China targeting overlapping global markets, the question remains whether they will choose head-to-head competition, or carve out differentiated approaches that allow both to thrive.
Customization as the New Standard
The shift from collective to individual consumption came through strongly in discussions on personalization. From engravings and milestone-based designs, to in-store design apps and virtual consultations, customization is now the baseline expectation.
The generational shift is unmistakable -- jewellery is no longer merely an investment or a family-driven purchase, but an expression of personal style, especially among younger women. This demand is reshaping design and retail strategies alike.
Digital First: Social Media Shapes the Journey
If customization is the product trend, social media is the channel revolution. Kamath recounted how his daughter challenged him to rethink marketing. He said, “My daughter told me, ’Papa, my generation does not look up, it looks down. You are wasting money on hoardings — be relevant on social media.’”
Her words, Kamath admitted, reflect the reality that discovery begins online. In fact, many retailers report that up to 80% of customers walk into stores already informed and influenced by Instagram, Facebook, and other platforms. This makes digital presence and storytelling critical, not only for awareness, but for conversion.
Omnichannel: Bridging the Online–Offline Divide
Yet, as several speakers emphasized, digital alone is not enough. Sacheti put it plainly, “There is no such thing as an e-commerce jewellery brand. There is only a jewellery brand — and e-commerce is just one of its channels.”
Pure online models, he explained, have hit a ceiling because consumers seek trust and assurance before making high-value purchases. A physical presence remains a critical anchor, with omnichannel strategies proving essential to bridge discovery and final conversion.
In the end…
The theme that pervaded all sessions was the urgent need for education and transparency. Lab-grown diamonds were often marketed as “the same, but cheaper”, creating confusion, while natural diamonds missed opportunities to articulate their differentiators. Speakers agreed that certification, blockchain traceability, and transparent storytelling are the tools the industry must embrace to regain clarity.