“India’s 7.8% GDP growth in the first quarter of FY 2026, despite global headwinds like the recent US tariff, reflects the resilience of our economy and the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi. Rising domestic demand for gems and jewellery is creating a strong cushion. This demand will help to ward off some impact out of the 50% import tariff on diamonds that has been put up by the USA.
India has now emerged as one of the leading jewellery consuming markets globally, with diamond jewellery alone accounting for USD 8.5 billion — nearly 10% of world demand. With rising incomes, a young aspirational population, and growing investor confidence, we believe India’s share of global diamond consumption will rise significantly, from the current 10% to as much as 30% in the coming years.
This growth story reinforces India’s position not only as the world’s diamond manufacturing hub but also as one of the most promising consumer markets, offering immense opportunities for global trade and long-term investment.”
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Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
