What are Indian consumers really looking for when it comes to luxury? New research from A Diamond is Forever, India’s Most Desired Luxury Purchases, ranks the country’s top 10 luxury categories, revealing not only what captures consumer desire, but how that desire translates into search, social conversation and purchase intent.

The research finds diamond and fine jewelry at the top of India’s luxury wishlist, with a score of 68.22 out of 80, followed by luxury cars at 65.5, luxury watches at 64.9, designer fashion at 62 and premium technology and electronics at 61.2.

But the overall ranking tells only part of the story. Looking across the individual measures reveals distinct patterns in how Indians engage with luxury: luxury cars lead on geographic reach, watches command the strongest commercial intent, diamonds see the highest transactional intent, while luxury travel records the fastest growth in social conversation.

The India’s Most Desired Luxury Purchases Index examines ten major luxury categories across eight measures of consumer interest and intent, offering a broader view of what luxury means to Indian consumers today.

Diamonds lead India’s luxury wishlist

Diamond and fine jewelry ranks first, with a score of 68.2/80. The category records 147,720 searches, including 81,930 commercial searches and 13,720 transactional searches. Its transactional-intent rate stands at 9.3% – the highest among the categories measured.

Beyond the numbers, the research identifies a distinctive combination of emotional resonance, cultural relevance and lasting value behind jewelry’s position at the top. From milestone purchases and wedding jewelry to gifting and heirlooms, fine jewelry occupies a space where personal meaning and perceived long-term value meet.

Watches command the strongest commercial intent

Luxury watches rank third overall at 64.9/80 but emerge as the strongest category when it comes to commercial intent, scoring 10/10 on the measure.

The category generated 250,230 searches, of which 202,470 were commercial searches. That means 80.9% of its search volume carried commercial intent, the highest proportion recorded across the categories.