According to De Beers’ 2025 Diamond Acquisition Study, India is now the second-largest market for diamond jewelry worldwide, making up 12% of total demand. Compared to economies like China and Japan, which currently contribute about 5% each, the country’s stake has increased from 10% in 2019. With a 53% market share, the US still leads the world.
The increase demonstrates a structural change in India’s patterns of luxury purchasing, which is fueled by urbanization, growing earnings, and changing consumer tastes. Diamonds are becoming more and more recognized as symbols of everyday fashion and personal style in addition to being typical luxury goods.
According to industry analysts, this trend is mostly driven by younger consumers and the growth of organized jewelry retail in both metro and non-metropolitan areas. India is positioned as a significant development engine for the diamond industry due to its expanding impact in the global diamond ecosystem.
India’s diamond jewelry market is anticipated to continue growing rapidly in the upcoming years due to persistent demand and shifting consumer preferences.
Source – The Economic Times
