Indian Economy News

India becomes second-largest diamond jewellery market with 12% global share

India has emerged as the world’s second-largest diamond jewellery market, capturing a 12% share of global demand, up from 10% in 2019, according to the 2025 De Beers India Diamond Acquisition Study (DAS). This growth has enabled India to overtake key markets such as China and Japan, each of which now accounts for around 5% of global demand, while the United States continues to lead with a dominant 53% share. The development reflects a strong structural shift in India’s luxury consumption landscape, with rising disposable incomes and evolving consumer preferences driving increased adoption of diamond jewellery across the country.

The surge in demand also signals India’s growing importance in the global diamond ecosystem, positioning it as a critical market for future growth. The expansion is supported by changing consumer behaviour, where diamonds are increasingly viewed not only as luxury purchases but also as symbols of self-expression and everyday wear. This trend is further strengthened by the aspirations of younger consumers and the expanding reach of organised jewellery retailers across urban and non-metro regions. As India continues to climb the global consumption ladder, its diamond jewellery market is expected to witness sustained momentum, strengthening its role as a key driver of growth in the global gems and jewellery industry. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.