JB Insights
De Beers Group delivers progress with sustainability and provenance initiatives, supporting enhanced confidence in De Beers-sourced diamonds
De Beers, believes a diamond’s journey should be as meaningful as its beauty. That’s why sustainability is embedded in everything they do – from developing renewable energy in our partner countries to advancing gender equity and supporting long-term national development.
De Beers Group today published its 2024 sustainability report, highlighting significant progress across its key focus areas of climate, livelihoods, nature and provenance. These areas were identified as the priorities for De Beers Group’s sustainability work as part of a mid-term review of the Group’s Building Forever sustainability framework initiated last year.
During the course of 2024, De Beers Group made meaningful progress in areas including emissions, safety and conservation. In addition, the business has substantially advanced its work on diamond provenance and traceability, with the blockchain-backed Tracr platform enhancing its effectiveness and scale.
With regards to its focus on climate, De Beers Group has reduced its Scope 1 and 2 emissions by 7% since 2021. The Group focused on developing renewable energy solutions in 2024, working with Envusa Energy to complete the financing of wind and solar plants in South Africa which will meet 100% of the mine’s electricity needs in 2026. De Beers Group also continued the development of the Mmadinare solar PV project in Botswana, completed its Electrification and Alternative Fuels study at Venetia, and launched alternative fuels studies at Debswana, Namdeb and Debmarine Namibia. Moreover, De Beers Group worked with its top 100 strategic partners to develop roadmaps to reduce Scope 3 emissions. De Beers Group has had its near-term emissions reduction targets validated by the Science Based Targets initiative (SBTi) and has committed to reducing absolute Scope 1 and 2 GHG emissions by 42%, and Scope 3 by 25% by 2030 (from a 2021 base year).
From a livelihoods perspective, De Beers Group made a total tax and economic contribution of $2.9bn in 2024, highlighting the socioeconomic value that responsibly sourced natural diamonds deliver. The Group also achieved its best ever safety performance, with a total recordable injury frequency rate (TRIFR) of 1.2.
Several high-impact programmes continued to drive meaningful change in host countries. Through the EntrepenHER programme, delivered in partnership with UN Women, around 500 more women were supported and the programme expanded to reach 1,500 more female entrepreneurs over the next three years, bringing the total number of women reached to more than 3,100. The Stanford SEED programme, run in collaboration with the Stanford Graduate School of Business, continued to support entrepreneurs across southern Africa and has helped create 3,400 jobs since its launch in 2018. Meanwhile, the GirlEng programme continued in partnership with WomEng and has now supported over 6,500 girls with a focus on STEM subjects since 2019.
In addition, De Beers Group developed a new 10-year Diamonds for Development Fund as part of its engagements with the Government of the Republic of Botswana for a new Debswana Sales Agreement and Mining Licences.
With respect to nature, De Beers Group managed over 375,000 acres of land for conservation purposes in 2024, ensuring the maintenance of the habitat for a range of endangered, vulnerable and threatened species. The Group relocated 10 white rhino from Botswana to South Africa as part of a rewilding project, and through the Namdeb- Debmarine Foundation partnered with conservation stakeholders to design a seabird rescue facility in Luderitz, Namibia to help prevent the extinction of the African Penguin. Furthermore, De Beers Group continued to partner with National Geographic to protect the source waters of the Okavango Delta through the Okavango Eternal programme.
Alongside the progress made with the sustainability pillars of climate, livelihoods and nature, De Beers Group delivered transformational progress with its work on provenance, advancing and scaling the Tracr blockchain platform in 2024. Nearly three million individual diamonds have been registered on the platform since 2022, with leading producers and suppliers joining the platform, including ODC and Mountain Province, thereby increasing the volume of diamonds on the platform being registered at source. Tracr has also begun providing country of origin information for all De Beers Group-sourced rough diamonds over one carat registered on the platform. In addition, Tracr is undertaking both rough-to-rough and rough-to-polished objective verification of diamonds on the platform, enhancing the levels of assurance it provides throughout the value chain.
Building on the progress delivered with sustainability and provenance, De Beers Group continues to develop consumer propositions that enable people to buy natural diamonds with assurance on their country of origin and impact on the people and places where they are discovered. This includes the launch of a new polished diamond programme called ORIGIN – De Beers Group. In recognition of the growing consumer interest in where a product has come from and the impact it has had along its journey, ORIGIN – De Beers Group enables participating retailers to access polished diamonds that have been sourced by De Beers Group, tracked through the value chain by the Tracr blockchain platform, and accompanied with rich information about each diamond’s unique journey and the meaningful impact it has delivered.
Sandrine Conseiller, CEO of Brands & Diamond Desirability at De Beers Group, said: “At De Beers, we believe a diamond’s journey should be as meaningful as its beauty. That’s why sustainability is embedded in everything we do – from developing renewable energy in our partner countries to advancing gender equity and supporting long-term national development. We’re not just powering our operations sustainably; we’re helping build infrastructure that benefits communities. We’re not just creating opportunities for women within our business; we’re unlocking potential for female students and entrepreneurs across our host nations. And through our enduring partnership with Botswana, we’re securing the future of our supply while investing in the country’s economic development and diversification. Thanks to our provenance platforms like Tracr and the consumer-facing experiences we’re building, we can share these stories with confidence.
JB Insights
AKSHAYA TRITIYA 2026 – The Focus Now Is On Buying With Clarity, Purpose, Value and Personal Relevance
OVERVIEW
As Akshaya Tritiya 2026 approaches, coinciding with India’s peak wedding season, the jewellery and bullion sector is gearing up for robust demand. Market sentiment is distinctly positive, underpinned by gold’s safe-haven appeal, evolving consumer preferences, and strategic industry initiatives expected to deliver healthy growth across key markets.
While the traditional appeal of gold and diamonds remains a powerful driver, a clear transformation in consumer behaviour is underway. Buyers are increasingly seeking lightweight designs, personalized storytelling pieces, and value-conscious exchange programmes. Despite elevated gold prices and external geopolitical uncertainties, purchase intent has remained consistently strong. Silver demand has also gained significant momentum, driven by its affordability and investment value potential.
CONSUMER SENTIMENT & BEHAVIOUR
The modern jewellery and bullion buyer is more discerning than ever. Key behavioural trends this season include a growing preference for lightweight designs, personalized pieces, diamond-studded options, and value-conscious exchanges through old gold programmes. Interest in digital gold and silver is also rising, reflecting evolving investment preferences.
— Darshan Chauhan, Wholetime Director, Sky Gold and Diamonds Ltd
“Consumer sentiment this Akshaya Tritiya carries a quiet confidence — measured, yet deeply rooted in tradition. The occasion continues to transcend transaction; it remains a moment of belief, of beginnings, and of considered indulgence.”
Price volatility has prompted consumers to be more strategic, using gold exchange programmes and rate protection schemes to optimize value. Emotional resonance — jewellery that tells a story or marks a milestone — is becoming a primary purchase motivator.
— Eshwar Surana, MD, Raj Diamonds
“Today’s consumers are increasingly drawn to pieces that go beyond tradition, reflecting individuality and enduring value. We are also increasingly seeing a preference for larger diamonds with an excellent cut grade that are masterfully crafted for maximum sparkle and brilliance.”
INDUSTRY OUTLOOK & DEMAND DRIVERS
Gold’s Enduring Cultural Significance
Gold continues to be a mandatory purchase for millions of Indian households during Akshaya Tritiya, reinforced by its deep cultural symbolism as a harbinger of prosperity and good fortune. Its safe-haven appeal amidst global economic uncertainties further bolsters demand this season.
— Rajesh Rokde, Chairman, GJC
“Gold is a mandatory purchase for many households during this period, and its safe haven appeal amidst economic uncertainties will further bolster demand. However, jewellers and consumers should remain cautious of potential short-term volatility in gold prices, influenced by rising geopolitical tensions in the Middle East.”
Silver’s Rising Momentum
Silver demand has gained remarkable traction this season, driven by both its affordability relative to gold and its growing recognition as a high-beta investment opportunity. The convergence of industrial and investment demand is positioning silver as a compelling parallel play alongside gold.
— Prithviraj Kothari, MD, RiddiSiddhi Bullions Ltd | National President, IBJA | Chairman, JITO
“Gold and silver are no longer just safe-haven assets — they are the market’s clearest signal of global uncertainty. With the US-Iran ceasefire still fragile, FOMC minutes flagging inflation risks, and central banks continuing to accumulate gold at a record pace, the structural bull case remains firmly intact. Every meaningful dip remains a buying opportunity, not a reason to exit.”
Wedding Season Synergy
The overlap of Akshaya Tritiya with the auspicious wedding season creates a powerful demand multiplier. Bridal trousseau purchases, gift sets, and investment jewellery all see significant upticks. This synergy has encouraged leading jewellers to extend store hours and launch dedicated bridal collections.
— Eshwar Surana, MD, Raj Diamonds
“We are expecting good traction in high-value diamond-studded and wedding jewellery, as there are a lot of weddings planned this summer. The demand for quality diamonds has already been very strong in the run-up to Akshaya Tritiya.”
Transparency & Innovation as Growth Levers
Industry associations such as the GJC are placing renewed emphasis on consumer confidence through transparency initiatives, innovative design, and digital accessibility. These efforts are expected to broaden the addressable market and attract younger, first-time buyers.
— Avinash Gupta, Vice Chairman, GJC
“At GJC, our focus remains on empowering jewellers and enhancing consumer confidence through transparency, innovation, and exceptional designs, thereby driving growth in the jewellery sector.”
LEADING BRAND STRATEGIES
PNG Jewellers — Targeting 25–30% Growth in Central India
PNG Jewellers has launched aggressive campaigns across Goa, Uttar Pradesh, Madhya Pradesh, and Maharashtra. The brand is projecting a buying cycle well beyond the festive day itself, supported by:
◆ Attractive benefits on the old gold exchange
◆ Reduced making charges for the season
◆ Exclusive new collections curated for Akshaya Tritiya
◆ Extended store hours to maximize footfall and conversions
— Dr. Saurabh Gadgil, CMD, PNG Jewellers
“This Akshaya Tritiya, we are anticipating a strong and extended buying cycle, as the festival coincides with the wedding season. We are projecting healthy traction, with a targeted growth of 25% to 30% over last year, particularly in Central Indian markets such as Uttar Pradesh and Bihar.”
KISNA Diamond and Gold Jewellery — Gold Rate Protection Plan
For KISNA, Akshaya Tritiya is a cornerstone event contributing 15–18% of annual revenue. Recognizing heightened consumer sensitivity to gold price movements, the brand has introduced the innovative Gold Rate Protection Plan:
◆ Protects buyers against price increases post-purchase
◆ Expected to contribute approximately 25% of the monthly business
◆ Addresses growing demand for lightweight and diamond-studded pieces
◆ Actively promotes old gold exchange as a value-add mechanism
— Parag Shah, CEO, KISNA Diamond and Gold Jewellery
“This year, we are seeing a more value-conscious consumer, with gold price movements shaping purchase behaviour in the lead-up to the festival. We have introduced the Gold Rate Protection Plan as a strategic intervention to provide greater confidence and flexibility in the purchase journey.”
Raj Diamonds — Premium Bridal Collections
Raj Diamonds is focused on the premium end of the market with its signature high jewellery collections — Ruby Splendour and Ancient Splendour — designed for the discerning bridal buyer who values intrinsic quality alongside cultural significance.
◆ Ruby Splendour and Ancient Splendour signature collections
◆ Larger diamonds with excellent cut grade for maximum brilliance
◆ Crafted for consumers seeking individuality and enduring value
◆ Estimated 20–25% growth in value terms over the last year
BULLION MARKET PERSPECTIVE
Beyond jewellery, the bullion market is seeing parallel momentum driven by institutional and retail investment demand. The convergence of macro uncertainty, central bank accumulation, and silver’s industrial demand profile is creating a compelling case for both gold and silver this Akshaya Tritiya season.
— Narayan Debnath, MD, RadhaKrishna Jewellery Retail Pvt Ltd
“Market sentiment this Akshaya Tritiya is distinctly positive, supported by the continued rise in gold prices and its safe-haven appeal. There is also a clear uptick in interest towards digital gold and silver, reflecting evolving investment preferences. Silver demand has gained significant momentum this season, driven by its affordability and value potential.”
RISK FACTORS & MARKET CONSIDERATIONS
While the overall outlook is optimistic, industry leaders have flagged several considerations that jewellers and consumers should be mindful of:
◆ Short-term gold price volatility linked to geopolitical tensions, particularly in the Middle East
◆ Elevated base gold prices may compress margins if demand softens unexpectedly
◆ Shifting consumer preferences require continuous product innovation and design investment
◆ Growing expectations around transparency and certification demand robust supply chain practices
— Rajesh Rokde, Chairman, GJC
“Jewellers and consumers should remain cautious of potential short-term volatility in gold prices, influenced by rising geopolitical tensions in the Middle East.”
CONCLUSION
India’s jewellery and bullion industry enters Akshaya Tritiya 2026 with well-founded confidence. A combination of enduring cultural demand, strategic promotional campaigns, consumer-friendly financial schemes, and an industry-wide pivot towards transparency and personalization is set to deliver robust growth.
The clearest signal from this season is that the consumer of 2025 buys with intention. Whether it is a lightweight everyday piece, a bridal set, a premium diamond investment, or a silver bullion coin, the purchase carries meaning — and the industry is rising to meet that expectation with clarity, value, and variety.
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