DiamondBuzz
De Beers CEO Al Cook: India’s Natural Diamond Market to Hit $20 Billion by 2030 Amid Rising Demand

India’s natural diamond market is poised for a major leap, with De Beers Group CEO Al Cook projecting the market will double in value—from nearly $10 billion today to $20 billion by 2030. Cook shared this vision during his first official visit to India, speaking at a press event held at Taj Lands End, Mumbai.
“India is the heart and home of diamonds, and it’s now leading the world in diamond demand,” Cook said. Highlighting a 12% annual growth in demand, he credited the rise to India’s expanding middle class, increasing disposable incomes, and deep cultural affinity for natural diamonds. India currently processes 90% of the world’s diamonds and supports over one million jobs in the sector.
To tap into this momentum, De Beers is rolling out an ambitious, India-focused strategy. Its Forevermark brand will launch in Mumbai and Delhi in 2025, with plans to expand to over 100 outlets nationwide. The company will use a “cluster-based” approach, combining company-run and franchise stores with strong e-commerce integration. The offerings will target aspirational consumers, with an average ticket size of ₹2.5 lakh.
De Beers is also ramping up marketing efforts. Its “Love From Dad” campaign, celebrating family milestones, has resonated strongly with Indian consumers. Strategic partnerships with the Indian Premier League (IPL) and top jeweller Tanishq are deepening brand presence. De Beers is training thousands of Tanishq sales staff through its Institute of Diamonds in Surat to help customers understand the rarity and ethical sourcing of natural diamonds.
A major new initiative, INDRA, will launch in August in partnership with the Gem & Jewellery Export Promotion Council (GJEPC), with 1,700 retailers already showing interest. “We are shifting from ‘from and by India’ to ‘to and for India,’” said Cook, stressing the growing domestic appetite for natural diamonds.

Addressing the rise of lab-grown diamonds (LGDs), Cook noted that LGD prices have dropped by 90% and are now available for as little as $299 in the US. De Beers has since closed its Lightbox LGD business in the US. “Our job to distinguish natural diamonds from LGDs is done,” he said, underlining the brand’s renewed focus on natural stones.
To reinforce consumer trust, De Beers has introduced Diamond Proof, a tool that can verify natural diamonds in just three seconds with 100% accuracy. “It’s critical that consumers know what they’re buying,” Cook emphasized.
Sustainability remains central to De Beers’ growth model, with a company-wide goal of achieving carbon neutrality by 2030. Cook highlighted the adoption of solar energy by Indian diamond polishers in Surat, and De Beers’ own green energy initiatives in South Africa and Namibia, including a new wind energy deal.
Additionally, De Beers’ synthetic diamond arm, Element Six, is exploring applications for advanced technology sectors like 6G and quantum computing. Cook said India’s rapid emergence as a tech leader makes it an ideal partner, pointing to potential investments in the country’s semiconductor industry.
Cook also addressed global trade concerns, expressing optimism over securing tariff exemptions on natural diamond imports in the US-India trade talks. With no domestic diamond production in the U.S., such tariffs function only as consumer taxes, he argued.
De Beers’ vision for India goes beyond business. “India fell in love with diamonds 2,000 years ago, and that bond is stronger than ever,” Cook concluded, affirming De Beers’ long-term commitment to making India the epicenter of global natural diamond consumption.

DiamondBuzz
PM Modi arrives in Namibia; India seeks direct access to diamond reserves
Prime Minister Narendra Modi is visiting Namibia as part of his five-country outreach tour. Namibia, rich in minerals such as uranium and diamonds, holds strategic importance for India

Prime Minister Narendra Modi is visiting Namibia as part of his five-country outreach tour. Namibia, rich in minerals such as uranium and diamonds, holds strategic importance for India.
Modi is visiting Namibia at the invitation of President Nandi-Ndaitwah, the Ministry of External Affairs (MEA) said in a press release in New Delhi ahead of Modi’s five-nation tour to Ghana, Trinidad & Tobago, Argentina, Brazil and Namibia.During his visit, the prime minister will hold bilateral talks with President Nandi-Ndaitwah.
Namibia has the world’s richest known marine diamond deposits, estimated at over 80 million carats. Currently, Namibia’s rough diamonds reach India indirectly through hubs like London and Antwerp. During this visit, PM Modi is expected to explore ways to establish more direct diamond trade links between the two countries.
India has invested more than $ 800 million (about ₹ 6,600 crores) in Namibia in many sectors including mining, manufacturing, diamond processing and services.Apart from diamonds, cobalt, lithium and rare earth elements and minerals are found in Namibia, which are important for India to move towards clean energy.
Bilateral trade has shown strong growth. In 2022-23, trade stood at $278 million, with India’s exports at $240 million. From April to November 2023, two-way trade surged by 178%, reaching $654 million. India’s exports totaled $418 million, while imports from Namibia were $235 million.
DiamondBuzz
Fancy Colour Diamond prices soar 205% since 2005 amid growing luxury demand, Says NDC
Prices for fancy colour diamonds have surged by an impressive 205% since 2005, according to a new report by the Natural Diamond Council (NDC), in collaboration with Choron Group and the Fancy Color Research Foundation (FCRF).

These exceptionally rare gems—known for their vivid hues of pink, blue, yellow, green, and red—now rank among the most sought-after and resilient assets in the natural diamond market.
Representing just 0.01% of all natural diamonds mined, fancy colour diamonds have captured growing interest from collectors, luxury jewellery houses, and investors. Data from the FCRF shows that pink diamonds have skyrocketed in value by nearly 394% over the past two decades, while blue diamonds have risen by over 240%, and yellow diamonds by almost 50%. Overall, fancy colour diamonds have posted a compound annual growth rate (CAGR) of 5.7%.
Once considered a niche category, these vibrant stones now feature prominently in high-profile auctions and luxury jewellery collections. Recent standout sales include the 10.03-carat Mediterranean Blue diamond, which fetched $21.4 million at Sotheby’s Geneva—more than $2.1 million per carat—and the historic 10.38-carat Marie-Thérèse Pink, sold at Christie’s New York for nearly $14 million.
Auction houses are increasingly showcasing a broader selection of fancy colour diamonds, driven by both aesthetic allure and their perceived long-term investment value, especially in today’s uncertain economic climate.
Supply remains extremely limited, with fancy colour diamonds mined in only a few regions globally—such as Canada, Botswana, South Africa, Sierra Leone, and the now-closed Argyle mine in Australia—adding to their exclusivity.
As luxury consumers place greater emphasis on rarity, provenance, and artistry, fancy colour diamonds are expected to maintain their prominence. With upcoming events like Paris Haute Couture Week, these extraordinary gems are poised to continue leading trends in high jewellery, elite auctions, and alternative investments.
DiamondBuzz
ALROSA’s Severalmaz ramps up output as Karpinsky-2 diamond pipe enters development
Russian diamond giant ALROSA has begun full-scale development of the Karpinsky-2 kimberlite pipe at the M.V. Lomonosov diamond field in the Arkhangelsk region, marking a major step forward for its local subsidiary, Severalmaz. Karpinsky-2 becomes the third active pipe at the site, alongside the existing Arkhangelsk and Karpinsky-1 operations.

Karpinsky-2 holds more than 40 million tonnes of diamond-bearing ore and was first evaluated in 2018 through pilot mining operations, which confirmed its commercial viability. Preparatory work for full development began earlier this year, and the project officially moved into the design phase during a recent visit by ALROSA CEO Pavel Marinychev.
Marinychev, who personally launched the design stage, also assessed Severalmaz’s performance for 2025 during his visit. In the first five months of the year, the company surpassed its ore extraction targets and improved operational efficiency, resulting in a 9.4% increase in ore processing. These gains translated into the production of more than 1.2 million carats of rough diamonds.
The CEO also reviewed progress on a new water recycling system at the Lomonosov processing plant and emphasized the importance of completing a gym facility for workers at the shift village by year-end, highlighting the company’s focus on both sustainability and employee well-being.
“I am sure that the work of the Severalmaz team will drive the enterprise’s continued growth. We remain committed to providing safe working conditions and contributing to the development of the Arkhangelsk region,” Marinychev stated.
ALROSA, which produces about 30% of the world’s diamonds and 90% of Russia’s output, reported production of 33 million carats in 2024. The company’s proven reserves exceed 1 billion carats, solidifying its position as the global leader in diamond mining.
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