India overtakes China as world's No.2 diamond market; sales seen doubling to $18B
Natural Diamond Council positions natural diamonds as a wealth-preservation asset as India's diamond jewellery sales are projected to double to over $18 billion by early next decade. Global market hits $97.57B in 2024, eyeing $138.66B by 2032 at 4.5% CAGR.
India has overtaken China as the world's second-largest diamond market, with jewellery sales projected to double to over $18 billion by early next decade, driven mostly by natural diamonds as a tangible wealth-preservation asset.
Why this matters
Natural Diamond Council continues to reinforce natural diamond demand, following its push to rally Surat cutters on ESG against lab-grown rivals and amid Gen Z reshaping the category's value.
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