Budget Reaction from De Beers

Feb 01, 2024

lokkkMr. Amit Pratihari, Vice President, De Beers Forevermark

Amidst the thriving economy, the interim budget conveys an overall positive outlook. The current robust economic conditions in the country have led to increased disposable income, thereby directly boosting consumer purchasing power.

This favorable shift is evident in the jewelry industry, where consumers are inclined towards acquiring items that hold meaning and value, such as Natural Diamonds. The government’s initiative to promote women entrepreneurship is also poised to inspire numerous women to become self-sufficient, fostering self-purchasing capabilities, creating a brighter future.

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Shaping India’s $100 Billion Gems & Jewellery Future
At the Chintan Shivir on the 2040 Roadmap, Commerce Secretary Shri Rajesh Agrawal outlined a vision to grow India’s gems & jewellery sector from ~$29B to $100B, driven by innovation, technology, design, global branding.

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