By Invitation
Diamond & Jewellery Industry: 2025 Review and Leadership View on 2026
By Akash Talesara, President : Sky Gold and Diamonds Ltd
From a leadership standpoint, 2025 was a year of stabilization and disciplined execution for the diamond and jewellery industry. It was not a year of exuberant growth, but one that tested operational resilience, capital efficiency, and strategic clarity. The industry navigated a complex environment shaped by uneven demand recovery and external trade-related pressures, while continuing to adapt to changing consumer behavior.
2025: A Year of Consolidation and Control
The industry in 2025 moved through a phase of consolidation and gradual normalization. Key markets including India, the Middle East, and the U.S. showed selective recovery. India remained the strongest pillar of demand, driven by weddings, festivals, and sustained aspirational consumption.


However, trade policy uncertainty—particularly U.S. tariff-related developments—had a visible impact on sentiment and trade flows. Export-oriented businesses faced cautious ordering patterns, margin pressure, and delayed buying decisions. These conditions forced companies to recalibrate pricing, reassess supply chains, and tighten risk management. While the impact varied by segment, the overall message was clear: agility and discipline mattered more than scale.
Consumer preference during the year remained firmly aligned toward lightweight, design-led jewellery and value-conscious diamond offerings. Organized players continued to strengthen trust through branding, certification, and transparency. Across the value chain, focus areas were clear—inventory rationalization, cost optimization, and prudent working capital deployment. Volatility in gold prices and selective softness in discretionary spending reinforced the need for operational rigor.


2026: Clearer Visibility and Structural Shifts
Looking ahead to 2026, I am cautiously optimistic. With improving visibility on global trade policies and a relatively stable macroeconomic environment, confidence is expected to recover progressively.
One of the most important structural shifts gaining momentum is the move toward lower karatage gold—particularly 9KT and 14KT—across daily-wear and lifestyle jewellery. Affordability without compromising design or durability is becoming central to consumer decision-making. Lower karat gold supports higher purchase frequency, attracts younger consumers, and enables volume-led growth across domestic and export markets.
Design will be the key differentiator in 2026. As the industry moves away from purely occasion-driven consumption toward everyday relevance, design-led innovation in daily-wear, office-wear, and lifestyle jewellery will define winners.


Today’s consumers are seeking jewellery that fits seamlessly into modern life—minimalist, lightweight, functional, and versatile. Pieces that can be worn comfortably throughout the day, layered easily, and aligned with contemporary aesthetics are increasingly preferred over traditional heavy formats. This shift is especially pronounced among urban and younger consumers, and it represents a long-term change in buying behavior, not a short-term trend.
Key Takeaway
The next phase of growth in the diamond and jewellery industry will be driven less by cyclical recovery and more by strategic execution—the right product mix, right pricing architecture, design differentiation, and disciplined capital management. Companies that align closely with evolving consumer expectations while maintaining operational efficiency will be best positioned to lead in 2026 and beyond.
Jb Exclusive: Digital view
By Invitation
From Prompt To Pendant: How AI Is Turning Jewellery Buyers Into Designers
By Dr Sandip P. Dhurat
Not long ago, jewellery design was largely a one-way conversation. Consumers browsed catalogues, visited stores, or selected pieces from showcases. If they wanted something custom-made, they relied on the jeweller’s sketches, imagination, and expertise.
Today, a new collaborator has entered the room: Artificial Intelligence.

Across age groups, consumers are experimenting with AI-powered image generators and design applications to create jewellery concepts that reflect their personal tastes. A few words typed into a prompt—”an emerald engagement ring inspired by lotus petals” or “a contemporary mangalsutra with geometric motifs”—can generate multiple design possibilities within seconds.
What happens next is perhaps the most interesting part of the story.Instead of ordering these pieces online, many consumers are taking their AI-generated designs to the one person they trust most: their family jeweller.

The new wave of customisation
For decades, customization in jewellery was often limited to engraving names, changing gemstones, or making minor design alterations. AI is expanding that possibility dramatically.
Consumers are no longer arriving at jewellery stores with vague ideas. They are walking in with detailed visual references generated on their smartphones. Some have experimented with dozens of versions before settling on a favourite. Others blend elements from different designs to create something entirely unique.
In a sense, AI is democratizing the design process. It allows consumers to participate creatively, even if they have no formal design background.
For younger buyers especially, this level of involvement is appealing. They want jewellery that feels personal, expressive, and different from what everyone else is wearing. AI gives them a playground where they can explore possibilities before making a purchase.
Role of traditional family jeweller
If AI can generate designs so easily, does that diminish the role of the jeweller?Quite the opposite.
While AI can create attractive images, it cannot determine whether a design is structurally sound, comfortable to wear, practical to manufacture, or durable enough for daily use. A ring that looks spectacular on a screen may be impossible to cast. A delicate bracelet generated by AI may not withstand regular wear.
This is where the expertise of the jeweller becomes invaluable.
Family jewellers are increasingly acting as interpreters between digital imagination and physical reality. They assess AI-generated concepts, refine proportions, suggest technical modifications, and ensure that the final piece balances aesthetics with craftsmanship.
Many jewellers describe the process as similar to working with a client-provided sketch—except the sketch is now more sophisticated and visually detailed.
The trust factor remains unchanged. Consumers may discover designs through AI, but they still want someone they know to guide the process and stand behind the finished product.
New collaboration trend
The relationship between customer and jeweller is evolving from buyer-and-seller to co-creators.
Consider a young couple designing an engagement ring. Instead of selecting from existing collections, they use AI to explore various combinations of settings, gemstones, and motifs. They then sit down with their jeweller to discuss feasibility, budget, stone availability, and craftsmanship.
The final piece is neither entirely AI-designed nor solely jeweller-designed. It is the outcome of a collaborative journey.
This shift creates opportunities for jewellers to engage customers more deeply. Conversations become richer because customers arrive with visual ideas rather than abstract descriptions.
In many cases, the design process becomes part of the emotional value of the jewellery itself.
The opportunity
The trend presents several advantages for jewellers willing to embrace it.
First, AI-generated concepts can serve as conversation starters. Instead of spending significant time understanding a customer’s vision from scratch, jewellers can begin with a visual reference and refine it together.
Second, it can increase demand for bespoke jewellery. Consumers who might never have considered custom design are discovering how accessible it has become.
Third, it opens the door to a new generation of buyers who value individuality over mass-produced designs.
Rather than competing with AI, jewellers can position themselves as the experts who transform digital concepts into heirloom-worthy creations.
Despite all the excitement around AI, jewellery remains an intensely human product.
A necklace gifted on a wedding day, a ring marking an engagement, or a bracelet passed down through generations carries emotions that no algorithm can replicate. AI may help generate ideas, but it cannot understand family traditions, cultural significance, sentimental stories, or the subtle nuances of personal taste.
Consumers are discovering designs through technology, but they are still seeking reassurance, expertise, and craftsmanship from people they trust.
Perhaps that is the real story behind this trend.
AI is not replacing the jeweller. It is empowering consumers to participate in the creative process while making the jeweller’s role even more valuable. The screen may provide the inspiration, but it is the skilled hand of the jeweller that transforms a digital concept into a treasured piece of jewellery.
In the years ahead, the most successful jewellers may not be those who resist AI, but those who embrace it as another tool in the ongoing art of personalization—where technology sparks the idea, and craftsmanship gives it life.
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