De Beers: Indian women's natural diamond ownership climbs from 11% to 15% in three years
Gen Z and Millennials now drive 86% of natural diamond market value in India, with average spend at ₹1.98 lakh per piece. De Beers projects the Indian diamond market to reach ₹1.52 lakh crore by 2030 at 12% CAGR. PN Gadgil's diamond segment grew 61% YoY; Malabar saw 45% jump in studded sales at Akshaya Tritiya.
What happened
De Beers India · De Beers study finds natural diamond ownership among Indian women rose from 11% to 15% in three years, with Gen Z/Millennials driving 86% of
Key facts
- ownership 11% (2022) to 15% (2025)
- Gen Z/Millennials 86% of market value
- avg spend ₹1,98,000/piece
- 12% CAGR
- ₹1.52 lakh crore by 2030
- PN Gadgil diamond segment +61% YoY
- Malabar diamond studded sales +45% Akshaya Tritiya
- 58% of 20-25 year olds prefer diamonds
Why this matters
Scout bolt-ons in branded diamond jewellery and design-led D2C labels with Gen Z traction, since incumbents will pay up to defend share as natural diamond penetration races from 15% toward developed-market norms.