India Climbs to Second Spot in Global Natural Diamond Jewellery Market
India records strong growth in natural diamond jewellery demand, overtaking China and Japan, with younger consumers leading purchases and shaping global market trends through higher spending and rising interest.
India has emerged as a major force in the global diamond industry, securing its position as the second largest market for natural diamond jewellery in 2025. The country has moved ahead of China and Japan, marking a significant shift in global demand patterns.
The domestic market is currently valued at around Rs 49700 crore and is expected to witness rapid expansion in the coming years. Industry estimates suggest that it could grow to nearly Rs 1.5 lakh crore by 2030, reflecting steady consumer interest and increasing purchasing power.
A key factor behind this surge is the growing influence of younger buyers. Generation Z, in particular, has become a dominant segment, contributing more than half of the total market value. Their preferences and willingness to spend have reshaped the industry, making them a central driver of growth.
Interestingly, Gen Z consumers are also leading in terms of spending per purchase, with the average price of diamond jewellery pieces reaching about Rs 198000. Along with millennials, these two groups together account for a large majority of the market, highlighting a clear generational shift in buying behaviour.
Globally, India now holds about 12 percent share of the total natural diamond demand, while the United States continues to lead by a wide margin. Meanwhile, markets like China and Japan have seen a decline in their share, contributing to India’s rise in the rankings.
Another important trend influencing the market is the fall in natural diamond prices over the past few years. Prices have dropped by nearly 25 to 30 percent compared to early 2022 levels, making diamond jewellery more accessible to a wider audience, especially younger buyers.
At the same time, the increasing popularity of lab grown diamonds is adding competitive pressure to the traditional market. However, the affordability of natural diamonds due to price corrections is helping sustain demand.
Overall, India’s expanding consumer base, changing preferences, and improved affordability are positioning it as one of the most important growth drivers in the global natural diamond jewellery industry.
