Fancy-colour diamonds are rare and striking natural diamonds that derive their hues from natural elements and structural anomalies. Nandinee Kakadiya, SKSM Diamond Impex, Surat, explains, “Yellow diamonds get their colour from Nitrogen, while blue diamonds owe theirs to Boron. These natural variations make each diamond truly one of a kind.”
Globally, fancy-colour diamonds represent just 0.5% of all gem-quality diamonds, with pink and red diamonds being even rarer at 0.005%.
“Their rarity and distinctiveness ensure their desirability, both as treasures and investments,” says Kakadiya.
To make these diamonds accessible, brands like SKSM are innovating with cutting techniques. Kakadiya adds, “Through patented cutting techniques, we maximize each diamond’s brilliance. Our C-Cube brand offers over 18 unique cuts that resonate with Indian consumers, blending traditional styles with innovative craftsmanship.”
The rarity of these stones adds to their appeal. According to Darshit Hirani, Hirani Diamonds, Mumbai, “The closure of the Argyle mine, a primary source of pink and red diamonds, has created urgency among collectors. Pink diamonds have appreciated five-fold in value, and red diamonds even more. Their rarity now rivals fine art, making them an exceptional investment.”
Why Are Coloured Diamonds Gaining Sudden Popularity?
Fancy-coloured diamonds have become aspirational symbols, thanks to their rarity, and the influence of celebrity endorsements and high-profile events. Ishu Datwani, Anmol Jewellers, Mumbai, notes, “Weddings, like those of the Ambani family, and Hollywood celebrities showcasing coloured diamond jewellery have set aspirational benchmarks.”
Social media has amplified this trend. “When consumers see celebrities wearing coloured diamond jewellery, it reinforces their desirability,” says Ankita Kothari, Anan Jewels, Mumbai.
Coloured diamonds have also become a canvas for creative designs. “Concept jewellery inspired by art, nature, or architecture often incorporates these diamonds to enhance creativity and storytelling,” explains Kothari.
GenZ Driving Demand
Younger consumers are at the forefront of the fancy colour diamond trend in India. According to Hirani, this demographic is ready to experiment, and seeks more from jewellers. Says he,
“Since traditional white diamond jewellery has been a part of their upbringing from an early age, their desire for something new and unique is growing stronger.
This willingness to experiment shapes both marketing and product strategies in the industry. Additionally, price points must be carefully considered — young buyers prefer jewellery that is wearable on a daily basis, while still being unique.”
The younger generation also values versatility and personalization. “Stackable rings and delicate pendants featuring coloured diamonds are particularly popular, as they transition seamlessly from day to evening wear,” says Kothari.
For many, fancy colour diamonds are more than just jewellery — they are statements of individuality. Datwani highlights this trend. “Yellow diamonds paired with emeralds resonate deeply with Indian aesthetics, while contemporary settings featuring coloured diamonds alongside brilliant-cut white diamonds appeal to modern sensibilities,” he says.
HNIs Find Colour Diamonds Irresistible
High Net-Worth Individuals (HNIs) have emerged as significant patrons of fancy colour diamonds. Datwani says, “A significant reason for the popularity of coloured diamonds is the increasing affluence among HNIs, which has expanded the luxury goods market. As people seek distinctive ways to showcase their wealth and sophistication, the appeal of possessing something rare and exquisite, like fancy coloured diamonds, becomes truly irresistible.”
Hirani confirms that the Ultra-High-Net-Worth Individuals (UHNWIs) in India have long been familiar with coloured diamonds, often purchasing yellow diamonds when travelling to luxury markets such as Dubai, London, or New York.
Their natural progression leads them to the rarer pink and red diamonds. Hirani elaborates, “They either opt for timeless, understated pieces, or seek highly artistic creations. To cater to this demand, our brand emphasizes consistency in design, innovative aesthetics, and rare diamond cuts, such as pears, ovals, marquises, and elongated radiants.”
The appetite of this discerning clientele for individuality and investment potential has spurred jewellers to innovate with custom designs, and cater to this niche, but influential, segment. Hirani says,
“Larger stones are highly sought-after, and blending materials like titanium, gemstones, rose cuts, and other rare elements adds to the exclusivity of each piece. However, executing such designs is incredibly challenging due to the difficulty of sourcing matching diamonds, making each creation truly one of a kind,”
Sparkling Future
The rise of fancy colour diamonds in India is a testament to the evolving tastes of consumers who value rarity, exclusivity, and creativity. Whether it is the romance of a pink diamond in bridal jewellery, or the investment allure of a rare red diamond, fancy colour diamonds are captivating the hearts and imagination of Indian buyers.
Hirani believes that the endeavour to educate retailers has been the key catalyst in the growth of the popularity of coloured diamonds in India. "Retailers now possess the confidence to effectively present these products to customers. Ongoing training has been essential in equipping sales teams to address enquiries about coloured diamonds, making them more accessible and appealing to buyers," he explains.
With jewellers blending traditional craftsmanship with modern aesthetics, these vibrant gemstones are poised to sparkle even brighter in the years to come.
