India has emerged as the world’s second-largest diamond jewellery market, accounting for 12% of global demand and surpassing both China and Japan, according to recent industry data highlighted by De Beers.
The development marks a significant shift in the global diamond jewellery landscape, positioning India not only as a leading manufacturing hub but also as one of the industry’s fastest-growing consumer markets. The United States continues to remain the largest diamond jewellery market globally.
Industry observers attribute India’s growth to rising disposable incomes, increasing penetration of organized jewellery retail, and evolving consumer preferences among millennials and Gen Z buyers. Demand for lightweight, everyday diamond jewellery and self-purchase categories has also contributed to market expansion.
The report noted that India’s diamond jewellery consumption has witnessed sustained growth despite softer demand trends in key international markets, particularly China. Retailers across India have continued to expand branded offerings and diamond-focused collections, supported by marketing campaigns targeting younger consumers and occasion-based purchases.
The increasing adoption of diamonds in bridal, fashion, and daily wear categories has further strengthened domestic demand. Industry stakeholders believe the trend is encouraging greater investment in retail networks, design innovation, and consumer education initiatives across the country.
The development comes at a crucial time for the global natural diamond industry, which is seeking new growth markets amid changing consumer spending patterns and economic uncertainty in several international regions.
India’s rise in global diamond jewellery consumption is expected to reinforce its strategic importance within the international gem and jewellery trade, both as a manufacturing centre and a key retail growth market.
