As India cements its position as the world’s second-largest diamond jewellery market, the conversation around natural diamonds is evolving alongside a new generation of consumers. Leading this transition is the Natural Diamond Council under the leadership of Amber Pepper, who is bringing a consumer-focused perspective shaped by her experience at global luxury institutions such as Harrods and Farfetch.
In this conversation, Pepper shares insights on the changing perception of luxury, the importance of transparency in sustainability discussions, and how Indian consumers — particularly Gen Z-ers and millennial women — are redefining the future of natural diamond jewellery through self-purchase, and everyday wear.
How is the narrative of natural diamonds evolving globally in today's luxury landscape?
The conversation around luxury has shifted in favour of authenticity and meaning. Natural diamonds formed billions of years ago, and have long been embedded in various cultures. They carry a story that resonates with today’s consumers seeking more meaningful purchases.
What is the biggest misconception about natural diamonds that NDC is actively working to correct?
One of the biggest misconceptions we address through our Diamond Facts reports is the assumption that laboratory-grown diamonds are automatically more sustainable than natural diamonds. In fact, laboratory-grown diamonds are highly energy-intensive to produce, with much of that energy coming from coal-powered grids in China and India.
What shifts are you seeing in Indian consumers — especially younger buyers?
The consumer shifts in India are dramatic and generational — Gen Z consumers are no longer waiting to inherit diamonds; they are buying them. Gen Z is expected to represent nearly 75% of the global luxury goods market this year, according to Boston Consulting Group, and they have a strong focus on innovation, brand visibility and sustainability. More importantly, diamonds are now seen as an expression of individuality, rather than just tradition, driving demand for unique, bespoke pieces and everyday wear. This demand is nationwide, with North India leading at 30% market share, followed by the South at 29%, East at 23%, and West at 18%.
Is bridal still the strongest pillar in India, or are we seeing new categories emerge?
Bridal remains important to the natural diamond category in India, accounting for 29% of the market value. Even within this segment, consumer behaviour is evolving, with 79% of buyers being brides purchasing their own jewellery. However, we are seeing the biggest growth driven by Gen Z and millennial women buying diamonds for themselves, rather than waiting for gifting occasions. In fact, 64% of natural diamonds (outside bridal) are self-purchased by women to celebrate personal milestones, or themselves. Self-purchase is shaping the future of the natural diamond category.