MUMBAI: MUMBAI: Diamonds are a girl’s best friend… or are they?
The world’s largest diamond company, De Beers Group, and India’s apex jewellery body, the Gem & Jewellery Export Promotion Council (GJEPC), are on a mission to convince consumers—millions across India—that only natural diamonds hold the title of “a girl’s best friend.” Their focus is on educating people about the differences between lab-grown diamonds and natural ones, the latter being the glittering treasures mined from the earth that have long captured imaginations.
To reinforce the natural diamond narrative, the two organizations have launched the Indian Natural Diamond Retailer Alliance (Indra). This initiative aims to support independent jewellery retailers in India with cutting-edge tools that go beyond traditional strategies. From leveraging artificial intelligence for tailored campaigns to providing multi-lingual marketing assets, immersive storytelling, superior customer experiences, and in-depth natural diamond jewellery training in local languages, Indra is equipping retailers to ensure that natural diamonds continue to shine brightly in consumers’ minds.
Interactive roadshows marking the collaboration will kick off in January 2025. GJEPC members will have the opportunity to enroll in the programme. Speaking about the initiative, GJEPC Chairman Vipul Shah said, “The Indian gem and jewellery market, currently valued at $85 billion, is poised for rapid growth, projected to reach $130 billion by 2030. Indra is designed to harness this momentum by tapping into India’s dynamic young population, the rise of organized players, and increasing demand across bridal, everyday wear, fashion, and entry-level jewellery. This initiative reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand, all while highlighting the timeless value of natural diamonds.”
De Beers Brands CEO Sandrine Conseiller added, “India’s diamond growth story is remarkable, now making it the second-largest market globally for retail sales of diamond jewellery. With its vibrant economy, growing young population, and numerous leading diamond businesses, India holds immense untapped potential. Presently, natural diamonds account for only about 10% of the Indian jewellery retail sector, far below the penetration seen in mature markets like the US. This collaboration with the GJEPC will unlock opportunities for increased consumer demand across all types of natural diamond jewellery, including bridal, everyday wear, and entry-level pieces.”
Retailers can register for the programme at www.INDRAonline.in and access multi-lingual training modules focused on natural diamond product knowledge. They’ll also gain access to a market intelligence portal, customizable marketing assets, and content to promote natural diamonds at the store level, helping them enhance returns and expand their customer base.
With over 10,500 members, GJEPC is the leading body driving India’s gem and jewellery sector. Through its large-scale IIJS Shows, multiple roadshows, and outreach activities, GJEPC has the reach and expertise to support the industry. This collaboration leverages GJEPC’s deep market knowledge, built over five decades, alongside De Beers’ extensive expertise in the diamond category.
The collaboration aligns with GJEPC’s adoption of the updated definition, nomenclature, and guidelines for diamonds as specified by the United States Federal Trade Commission (FTC). These updated guidelines ensure distinct terminology standards, fostering clarity and transparency for both industry stakeholders and consumers.
