DiamondBuzz
GJEPC and De Beers Group forge strategic collaboration to promote natural diamonds
De Beers Group, the world’s leading diamond company, and the Gem & Jewellery Export Promotion Council (GJEPC), India’s apex jewellery trade body, today announced the commencement of a strategic collaboration to strengthen the natural diamond narrative within the Indian gem and jewellery trade.
The collaboration titled INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that go beyond the traditional trade. For example, leveraging Artificial Intelligence to measure marketing campaign impacts.
From in-store visual merchandising to immersive experiences and superior in-store storytelling and customer engagement, INDRA aims to uplift retail training in India. Furthermore, it will support local jewellers in strengthening India’s consumer connection to natural diamonds more deeply with meaningful storytelling through regional languages.
The collaboration will officially commence in January 2025, at which GJEPC members will be able to enrol in the programme.
DiamondBuzz
India LGD Sector Is Pushing Back Against Aggressive Discounting
Trade Body, Leadership Urged Traders and Brokers To Enforce Price Floors and Eliminate Undercutting.
India’s lab-grown diamond (LGD) sector is pushing back against aggressive discounting as shrinking margins squeeze manufacturers and erode industry profitability. At a September 7 meeting of the Surat Lab Grown Diamond Association, leadership urged traders and brokers to enforce price floors and eliminate undercutting.
Raw Price Shift: Polished LGD prices recently rebounded by 20% to 25%.
Discount Compression: In response to rising costs, traders scaled back buyer discounts from ~7% to a tighter 3%–4% range.
Margin Squeeze: Association President Babu Vaghani warned that uncontrolled discounting directly erodes manufacturer earnings, forcing wage cuts and destabilizing supply chain economics.
Industry Outlook
The sector faces a structural dilemma: lower consumer prices drive adoption, but severe price erosion starves manufacturers, polishers, and labor of viable margins.
Continued downward pressure is pushing skilled labor out of the market and forcing polishing units to explore alternative industries. Stabilization hinges on widespread compliance with pricing discipline across the Surat hub.
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