Tanishq, India’s largest jeweler, and De Beers Group, a leading diamond company, have announced a three-year strategic partnership to expand the market for natural diamonds in India.
This collaboration reflects the country’s growing influence in the global diamond industry.
India now overtakes China as the second-largest market for natural diamond jewelry, trailing only the United States.
According to a report by Business Standard, the companies highlighted India’s burgeoning economy, a rapidly expanding middle class, and consumers increasingly seeking jewelry with long-term value as key drivers behind the surge in demand.
The report added that Indian consumers now account for 11% of global demand for natural diamond jewelry.
The partnership will focus on enhancing consumer engagement, improving Tanishq’s retail staff’s ability to communicate the value of natural diamonds, and educating customers about authenticity.
The report added that discussions are ongoing regarding integrating De Beers’ proprietary technologies to support supply chain integrity and traceability for Tanishq.
Ajoy Chawla, CEO of Tanishq’s parent company Titan, noted that while 30% of Tanishq’s sales are from studded jewelry, the shift towards lab-grown diamonds in India remains minimal.
De Beers Brands CEO Sandrine Conseiller emphasized that despite some market noise around synthetic diamonds, consumer preference in India strongly favors natural diamonds.
