India's natural diamond jewellery market is set to hit Rs 1,50,000 crore by 2030, on the back of strong macroeconomic fundamentals and grwoing consumer trends, De Beers Group said in a report on Wednesday.
These macroeconomic fundamentals consist of a projected 11% annual growth in GDP (Gross Domestic Product) and PDI (Personal Disposable Income) through 2030, the Indian natural diamond jewellery market is moving towards a high-growth stage, with the sector poised to reach an estimated valuation of Rs 1,50,000 crore by 2030, De Beers stated in its report tited '2025 India Diamond Acquisition Study (DAS)'.
This momentum indicates a structural change in the domestic market, with natural diamonds becoming more than traditional "bridal heirlooms" and breaking into the high-frequency everyday wear category.
This shift is due to increase in financial independence of women and the aspirations of Generation Z and millennial consumers, who now have 86% share of the market value, as per the report.
Further, this growing demand is no longer restricted to metros; tier II and III cities are emerging as significant growth engines, fuelled by rising aspirations and increasing accessibility to luxury, it added.
"India's relationship with natural diamonds is undergoing a profound structural shift, moving from traditional to a powerful medium of daily self-expression. As personal disposable income grows, a new generation of consumers is prioritising the authenticity and rarity that only a natural miracle can provide.
"This ensures the category remains a vital pillar of the nation's luxury future while reinforcing India's position as the global heartbeat of the industry," De Beers Group Global SVP Shweta Harit said.
(With PTI Inputs)
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