India's Diamond Market Set to Double by Decade-End, Says De Beers CEO Al Cook

• De Beers CEO Al Cook projects India's diamond market to double by 2030, driven by strong consumer demand despite global turbulence.
• India has seen 11% growth in diamond demand over the past 12 months, marking four consecutive years of double-digit growth.
• Retail diamond prices in India and the US have remained stable, contrasting with pressure in the rough diamond market due to US-India trade tariffs.
• De Beers is intensifying its focus on India with aggressive investments in marketing, brand-building, and retail expansion, including association with IPL.
• The company plans to expand its Forevermark stores from 5 to 25 by year-end, targeting Tier 1 and Tier 2 cities, while segmenting natural from lab-grown diamonds.

Why It Matters: India's diamond market is poised for significant growth, fueled by cultural ties and strategic investments from De Beers.