Over the medium and long term, the supply-demand fundamentals of the diamond industry are positive and continue to point to future growth. India’s diamond consumer market has achieved almost uninterrupted growth over the last two decades. In the last decade alone, the market has nearly trebled in size to about INR220 billion ($3.2b). India’s middle classes are growing rapidly, with purchasing power of the highest income households expected to rise at the fastest pace. In the long run, we believe there is as much untapped opportunity for the diamond industry in India as anywhere else in the world.
De Beers head of media relations Lynette Gould in interview with Rough & Polished on consumer demand for diamonds in India.