India Emerges as Second Largest Natural Diamond Jewellery Market in 2025
India has surpassed China and Japan to become the second largest natural diamond jewellery market, driven by strong demand from younger consumers and rising affordability in global diamond pricing trends.
- India natural diamond jewellery market ranks second globally
- India diamond market driven by Gen Z and millennials demand
- India diamond jewellery growth boosted by falling prices
India has climbed to the position of the world’s second largest natural diamond jewellery market in 2025, overtaking China and Japan in global rankings. The shift reflects changing consumer trends and a surge in demand from younger buyers across the country.
According to industry insights shared by De Beers Group, India’s natural diamond jewellery market is currently valued at around Rs 49700 crore and is expected to grow significantly to Rs 1.5 lakh crore by 2030. The country now contributes about 12 percent to the global demand, which stands at 44 billion dollars, while the United States continues to dominate with a 53 percent share.
One of the most striking developments in India’s diamond market is the growing influence of younger generations. Generation Z has emerged as a major force, accounting for 51 percent of the total market value. This marks a sharp increase in their contribution compared to previous years, signaling a shift in buying patterns.
Notably, Gen Z consumers are not just participating in the market but also spending more per purchase. This group has recorded the highest average price per piece at Rs 198000. Along with millennials, these two generations together make up 86 percent of the overall diamond jewellery market in India.
Industry experts point out that India’s evolving consumer base is reshaping global demand. Shweta Harit from De Beers Group noted that younger buyers today are more independent and style conscious, playing a key role in the market’s rapid expansion.
At the same time, global trends are also influencing buying behavior. The rise of lab grown diamonds, which are available at much lower prices, has increased competition for natural diamonds. This has contributed to a decline in natural diamond prices, which are now about 25 to 30 percent lower than early 2022 levels.
The drop in prices has made natural diamonds more accessible, especially to younger consumers, further strengthening India’s position as a major player in the global jewellery market.
