National News
Gold price surge, bridal jewellery demand drives diamond jewellery segment
With gold prices reaching the ₹1 lakh mark, diamond-studded jewellery, especially one-carat solitaires (priced at ₹2.5-₹3.5 lakh per carat), has become the preferred choice for wedding shoppers, resulting in a 20% year-on-year increase in demand.
Jewellery retailers, including Tanishq and Kalyan Jewellers, are actively promoting diamond jewellery due to higher margins and incentives. Sales teams are being incentivized to convert gold buyers to diamond buyers, especially when gold prices are high.
Diamond jewellery among Indian customers is currently in single digits, or at best, 10-11%. The total size of the Indian jewellery industry is about ₹5.5-₹6.4 lakh crore while the diamond industry is at ₹70,000-₹75,000 crore. And, therefore, certainly we want higher growth. How much higher growth, we have not put a number to it. We have our goals. And there is an expectation that the diamond-studded jewellery market will grow at a faster rate,” said Tanishq’s CEO Ajoy Chawla
Prices for polished natural diamonds have remained stable in May, with a slight upward trend for high-quality solitaires. Lower-quality diamonds and smaller goods are experiencing flat or pressured prices, highlighting the premium placed on quality.
“The purchasing power of Indians have increased, and they are now looking at diamonds for wedding purposes. India is witnessing a double-digit growth in diamond demand,” said Amit Pratihari, managing director at De Beers India.
This month, overall prices of polished natural diamonds have remained stable, with a slight upward movement. “There’s no sharp spike like we saw in April, but there’s a tendency for prices to rise gradually. Consumers are showing continued interest in solitaires, and that’s reflected in steady movement at the higher end. On the other hand, smaller goods and lower-quality diamonds are not performing as well. In fact, prices in those categories are quite flat or under pressure. So, it’s clear-good quality diamonds, especially solitaires, are the ones holding value and showing upward momentum,” said Jignesh Mehta, managing director at Mumbai-based Divine Solitaires.
The Indian diamond jewellery market is poised for accelerated growth, fueled by rising gold prices, changing consumer preferences, and aggressive retail strategies. With only a small fraction of Indian consumers currently purchasing diamond jewellery, the segment offers substantial room for expansion. Industry leaders expect the trend towards solitaires and high-quality diamonds to continue, especially during key buying seasons like weddings.
Net profit of Deccan Gold Mines reported to Rs 14.45 crore in the quarter ended March 2025 as against net loss of Rs 67.40 crore during the previous quarter ended March 2024. Sales declined 99.70% to Rs 0.01 crore in the quarter ended March 2025 as against Rs 3.36 crore during the previous quarter ended March 2024.
For the full year,net loss reported to Rs 32.80 crore in the year ended March 2025 as against net loss of Rs 63.69 crore during the previous year ended March 2024. Sales rose 11.37% to Rs 3.82 crore in the year ended March 2025 as against Rs 3.43 crore during the previous year ended March 2024.
Deccan Gold Mines, currently has its share price at ₹153.85. The stock has experienced fluctuations as of Jun 3 with a low of ₹147.1 and a high of ₹157.25 Over the past 52 weeks, the shares have seen a low of ₹85.3 and a high of ₹178.7.
Deccan Gold Mines share prices have risen from Rs14.04 five years ago to Rs ₹153.85 . In spite of no gold exploration or production in India yet , the share price has appreciated significantly.
Deccan Gold Mine recently acquired a 60% stake in Avelum Partners LLC in Kyrgyzstan and a 31.52% stake in Kalevala Gold Oy in Finland. These acquisitions are expected to add approximately 10 tonnes of potential gold resources to Deccan’s portfolio.
Malabar Gold & Diamonds has inaugurated its latest showroom in Bagalkot, Karnataka. Designed to offer customers a world-class shopping experience, the showroom features an exquisite collection of jewellery across diverse designs and styles. This new showroom marks the brand’s 42nd in Karnataka, including 21 showrooms in Bengaluru. The grand inauguration was held in the presence of cine actress Srinidhi Shetty and Filsor Babu, Regional head – Karnataka along with members of the management team, valued customers, and well-wishers.
With a global presence of over 400 showrooms across 13 countries—including India, the Middle East, the USA, the UK, Canada, and Australia—Malabar Gold & Diamonds is known for its wide-ranging collections, exceptional quality, and customer-centric approach.
The showroom offers an extensive collection of gold, diamond, platinum, and gemstone jewellery to suit various tastes and occasions. From traditional designs that reflect India’s rich heritage to modern styles catering to contemporary sensibilities, the showroom caters to a broad spectrum of preferences.
The showroom is designed to offer a seamless shopping experience, featuring elegant displays and a well-trained team to assist customers in selecting their ideal jewellery. This launch reinforces Malabar Gold & Diamonds’ vision of becoming the world’s most preferred jeweller by combining traditional craftsmanship with innovation while prioritising sustainability and social responsibility.
Speaking on the occasion, MP Ahammed, chairman of Malabar Group, said, “We are thrilled to announce the launch of our new showroom in Bagalkot. At Malabar Gold & Diamonds, we take pride in creating jewellery that celebrates intricacy and artisanship. With an unwavering commitment to quality, ethical business practices, and customer satisfaction, we are excited to present our exceptional collections to the people of Bagalkot and look forward to giving them a premium shopping experience.”
Indian-Thai Diamond and Colorstone Association (ITDCA) is pleased to announce the signing of a Memorandum of Understanding (MOU) with eBay, one of the world’s leading e-commerce platforms. This strategic collaboration aims to create new global opportunities for ITDCA members in the gem and jewelry industry.
As part of this initiative, ITDCA will be organizing a dedicated event in partnership with eBay, where members can learn more about the platform, benefits, and onboarding process. Details of the event will be shared with members shortly.Under the MOU, ITDCA members will enjoy several exclusive benefits for ITDCA members only.
This partnership aligns with ITDCA’s goal of enhancing member competitiveness and facilitating access to international markets. ITDCA President Mr. Atul Jogani stated, “This collaboration with eBay offers exciting prospects for our members to expand their businesses globally with expert guidance and resources. eBay has presence in 190 countries and members will benefit from that network.”
We encourage all members to stay tuned as we will be sharing more information about the upcoming event and how to participate in the program.
GET-Diamonds to Launch World’s First Blockchain-Based Digital Diamond Certificate at JCK Las Vegas
Deccan Gold Mines reports Rs 14.45 cr net profit in the quarter ended March 2025
Malabar Gold & Diamonds unveils new showroom in Bagalkot
GET-Diamonds to Launch World’s First Blockchain-Based Digital Diamond Certificate at JCK Las Vegas
Deccan Gold Mines reports Rs 14.45 cr net profit in the quarter ended March 2025
Malabar Gold & Diamonds unveils new showroom in Bagalkot
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