The Indian diamond jewellery market has entered a transformative era, officially overtaking China and Japan to become the second-largest market globally, according to the 2025 De Beers India Diamond Acquisition Study (DAS). Capturing a 12% share of global demand, India’s Natural Diamond Jewellery (NDJ) market is currently valued at INR 497 Billion and is projected to reach INR 1,500 Crore by 2030. This growth is underpinned by a seismic shift in consumer behaviour, led by a new generation of buyers who view diamonds not as dormant assets, but as essential elements of their daily identity.
The study identifies Generation Z as the undisputed powerhouse of the Indian diamond market. Contrary to global narratives, young Indians are embracing natural diamonds with unprecedented enthusiasm, with Gen Z (aged 18-28) now generating a staggering 51% of the total market value, a 19 % increase since 2022. This demographic records the highest average price paid per piece at INR 198,000, driven by high acquisition rates and a desire for authentic luxury. When combined with Millennials, these two generations consisting of 86% of the Indian diamond jewellery market value, signalling a long-term youth-led expansion that is reshaping the luxury landscape.
A profound cultural shift has also redefined how diamonds are worn in India, marking the end of “locker luxury.” In 2014, 56% of diamond jewellery was reserved for special occasions, while only 27% was worn daily. Today, 52% of acquired diamonds are now worn every day This transition is closely linked to the rise of the self-purchasing woman; outside of the wedding segment, 64% of natural diamond jewellery is self-purchased to celebrate personal milestones or as an impulse treat. Even within the wedding sector, which accounts for 29% of the market value, a remarkable 79% of the value is contributed by brides purchasing for themselves.
Shweta Harit, Global SVP, De Beers Group, said: “India’s ascent to the position of the world’s second-largest diamond market is a testament to the deep-rooted emotional and cultural connection Indian consumers have with natural diamonds. As global markets evolve, India stands out as a beacon of growth, driven by a generation that values authenticity and rarity. At De Beers, we see this as a journey where the timeless artistry of a natural diamond meets the modern, fast-paced aspirations of the Indian Gen Z and Millennial consumer. India is now a primary driver of global demand, shaped by a consumer base that is younger, more independent, and more style-conscious than ever before.”
Natural diamonds remain the most desired gift and self-purchase item in India, consistently outperforming gold jewellery, smartphones, and luxury watches. As the addressable market expands to 67 million women across Tier 1 to Tier 5 cities, the future of the Indian diamond industry looks increasingly robust. With high-income households forecast to grow by 16% through 2030, the demand for natural diamonds as both a lifestyle statement and a symbolic investment is set to reach new heights.
As India cements its place as a global diamond powerhouse, natural diamonds have officially evolved from ‘special occasion’ heirlooms to everyday essentials. This shift reflects a visionary new era where nature’s greatest art meets the bold independence of a generation that no longer saves its brilliance for tomorrow, but chooses to wear it every single day
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