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India’s natural diamond market is set to double to $20 billion by 2030: De Beers Group CEO Al Cook

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De Beers Group CEO Al Cook, during his first visit to India since taking the helm in February 2023, announced that India’s natural diamond market—currently valued at just under $10 billion—is set to double to $20 billion by 2030. Speaking at a press conference at Taj Lands End, Mumbai, on May 22, Cook highlighted India’s historic and growing significance in the global diamond industry, noting its status as the world’s second-largest market for natural diamonds and the processing hub for 90% of global supply, supporting over a million jobs.

Cook attributed the projected growth to India’s rapidly expanding middle class, rising disposable incomes, and a deep cultural affinity for natural diamonds, with demand increasing at 12% year-on-year. He described India’s economy as “the envy of the world” and outlined De Beers’ multi-pronged strategy to capture this momentum. Key initiatives include the launch of the Forevermark retail brand in Mumbai and Delhi in late 2025, with a plan to expand to over 100 stores across major cities within five years, using both company-owned and franchise models alongside robust e-commerce offerings.

Talking about the world’s four key regions for diamond consumption, he said there has been a substantial decline in China. In the US, the market has been stable over the last year with some growth in recent months, and De Beers will focus many of its marketing campaigns there to boost demand. The Middle East, meanwhile, continues to show strong and sustained growth, he added.

Talking about lab-grown diamonds (LGD), he said its wholesale prices in the jewellery sector have fallen 90 per cent. “Our drive to educate consumers about the difference between natural diamonds and LGDs has accelerated. The myth that you can’t tell the difference between a natural diamond and an LGD is beginning to shatter, and Diamond Proof’s influence is only going to grow,” he added.

Al Cook  visited the GJEPC office in Mumbai, reinforcing the group’s commitment to deeper collaboration with the Indian diamond industry. The visit follows the successful joint launch of the Indian Natural Diamond Retailer Alliance (INDRA) earlier this year—a strategic initiative to boost India’s natural diamond retail ecosystem.

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JB Insights

Gifting That Lasts – How Gold and Silver Coins Bridge Heritage and Modern Life

Ketan Kothari , Director of Augmont

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Most people think of gifting gold and silver as a nod to nostalgia. In reality, it’s one of the few traditions that has outperformed every modern “smart” gift you can name. Long before fintech apps and inflation charts, Indian households treated these metals as portable wealth, a hedge against uncertainty, and a quiet transfer of wisdom from one generation to the next. That logic has not aged a day; rather, it remains even more relevant in a world where assets can be compromised with a password reset.

Ketan Kothari , Director of Augmont

What has changed is the way these coins look and live in our lives. Classic Lakshmi – Ganesh motifs now share space with clean, contemporary designs that feel at home in a digital world. The modern take on it makes each piece both timeless and current. Every coin carries its own story, turning family milestones into tangible memories while steadily gaining value as gold and silver prices continue to climb year after year. It is beauty and intrinsic value in one small disc. It is a heritage you can hold, and an investment built to last across generations.

Augmont brings this legacy to life with coins that pair high purity with artistry that honors tradition while embracing today’s aesthetic, offering a gift as enduring as the heritage it represents.

Why Choose Augmont Coins?

1. A Range That Resonates
From divine Lakshmi–Ganesh motifs to limited editions and unique designs in 24K and 22K gold and silver, Augmont offers a variety that suits every occasion. Each coin is crafted to celebrate moments that matter, whether personal milestones or festive rituals.

2. Stories Encased in Metal
These coins carry meaning at multiple levels. Many are tied to festivals, family traditions, or commemorative events, reimagining each piece as a memory that endures alongside its value.

3. Quality That Lasts Generations
Augmont coins are designed with precision and aim to withstand time. Their enduring craftsmanship ensures they remain beautiful keepsakes, ready to be passed down as family heirlooms while preserving their shine and value.

4. Trust You Can Hold
Every coin comes with 999 purity, BIS-certified refinery credentials, and secure packaging. Rigorous minting checks and transparent authenticity measures make each coin a reliable investment as well as a meaningful gift.

5. Versatility Across Life and Legacy
Whether it’s for a festival, a milestone, a special reward, or just a smart personal investment, Augmont coins fit naturally into the moment, carrying both meaning and value without ever feeling out of place.

6. A Legacy of Trust
Trusted by thousands of jewellers and millions of users across the country, Augmont coins have become a choice people rely on, not just for their value, but for the assurance they carry.

How Tradition Meets Technology

1. Timed for Auspicious Moments
Gold and silver coins remain the benchmark for occasions like Diwali, Akshaya Tritiya, and other auspicious events. With digital and quick-commerce platforms, these timeless gifts can now be bought and gifted instantly, without compromising the ritual.

2. Convenience Of Payment
UPI-enabled transactions bring efficiency without losing the emotional value of gifting.

3. A Platform Built for Today
Platforms like Augmont make it easy to combine tradition with today’s convenience, whether it’s setting up Gold/Silver SIPs, picking Gold/Silver coins online, storing them securely, or redeeming as per convenience. The old and the new come together without missing a beat.

Gold and silver coins have a way of staying with us long after the festival. They become part of the stories families live and share. A coin given at Diwali, added to a wedding trousseau, or exchanged to mark a milestone, holds memories, celebrates relationships, and marks achievements. Over the years, these coins carry the weight of tradition, the joy of moments lived, and the reassurance of foresight. By bringing the past into the present, they turn every gift into something personal, lasting, and truly memorable.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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