JB Insights
Navigating The ₹1.5 Trillion Diamond Opportunity
As the global diamond industry moves toward a projected $1.5 trillion opportunity, brands are redefining how they connect with modern consumers through authenticity, innovation, and strategic expansion. In this exclusive conversation, Mallikarjuna Reddy Yarabolu, MD- Forevermark, De Beers India, shares insights with JewelBuzz on Forevermark India’s growth roadmap, Gen Z engagement strategies, retail expansion plans, and the enduring emotional appeal of natural diamonds in an evolving luxury landscape shaped by value-conscious yet aspirational consumers.

Q: The latest industry reports project the diamond market to evolve into a Rs 1.5 trillion opportunity with a CAGR of 12–15%. What is your perspective on this growth trajectory?
We are incredibly excited about the future of this category. India is entering a powerful growth phase, and we see natural diamonds playing a very important role in that journey. Our focus is on consistently building a meaningful diamond jewellery brand while staying deeply connected to evolving consumer aspirations.
At the heart of our philosophy is “Consumer Experience First.” Every collection, every design, and every retail touchpoint must align with the consumer’s lifestyle, emotions, and occasions of celebration.
Q: Gen Z consumers are reshaping the luxury landscape. How are you balancing product portfolios and price points to appeal to this audience?
We have developed a very clear and disciplined roadmap. Our offerings are structured across six distinct price segments, enabling us to cater to a broad consumer base — from aspirational buyers to premium luxury clientele.
Our philosophy is simple: irrespective of the price point, the consumer must experience undeniable value. At the same time, we work very closely with our manufacturing partners to ensure there is absolutely no compromise on quality, craftsmanship, or authenticity.

India remains a highly value-conscious market, and our segmentation strategy allows us to address diverse consumer expectations while maintaining brand integrity.
Q: Retail expansion today requires both precision and foresight. What does Forevermark India’s growth strategy look like over the next few years?
Our expansion strategy is highly strategic and market-focused. We are not pursuing scale for the sake of scale — we are focusing on relevance and proximity to the consumer.
This year, our goal is to open 20 stores, with significant scaling planned over the next five years. Our growth will span metros, Tier 1, and emerging Tier 2 cities, with a strong emphasis on “must-have” markets rather than “nice-to-have” locations.
If we identify strong potential in a specific micro-market, whether it is Borivali or another high-growth retail destination, we ensure we establish a meaningful presence there. We also deeply value our partnerships with malls, landlords, and retail ecosystems that help us connect more effectively with consumers.
Q: India’s festive calendar drives strong jewellery demand. How do you see consumer sentiment for natural diamonds during occasions such as Akshaya Tritiya and Diwali?
The natural diamond category is witnessing remarkable momentum, with growth levels that are outperforming many adjacent sectors. Indian consumers continue to associate diamonds with emotion, celebration, and long-term value.
To celebrate this evolving consumer sentiment, Forevermark has introduced a first-of-its-kind Diamond Gold Coin, which has already received an extremely positive response. Whether viewed as an investment, a trade-up purchase, or a symbol of celebration, natural diamonds continue to resonate strongly with consumers during festive periods.
Q: In a market as diverse as India, how do you build lasting consumer trust across regions and demographics?
Trust is built through consistency, transparency, and disciplined execution. India is diverse not only culturally, but also economically, and consumers across every segment expect genuine value.
That is why our six-tier pricing strategy is designed to ensure inclusivity without compromising quality standards. We remain extremely transparent in our communication and rigorous in our quality processes, ensuring the brand continues to symbolize integrity, authenticity, and reliability.
Q: You speak passionately about natural diamonds. Why is the “natural” aspect so central to your brand philosophy?
Because authenticity carries an emotional resonance that cannot be replicated. The vibrancy, rarity, and emotional significance of a natural diamond are truly unique.
Consumers today are intelligent and highly informed. They understand the difference, and they know what resonates with them emotionally. While awareness across categories is increasing, we remain firmly committed to the natural diamond segment because it represents timelessness, purity, and enduring value.

Our role is simply to create beautiful and meaningful pieces that consumers will cherish across generations.
Q: As Forevermark India strengthens its market presence, what are the core pillars driving the brand’s long-term vision?
Our growth strategy is anchored in three core pillars:
- A Multi-Tiered Value Proposition that caters to India’s diverse consumer landscape.
- Manufacturing Excellence & Partner Synergy to ensure uncompromising quality and authenticity.
- Hyper-Local Expansion & Consumer Relevance driven by precision-led retail growth and occasion-based engagement.
By combining operational excellence with deep consumer understanding, we believe Forevermark India is strongly positioned to outpace industry benchmarks and strengthen the emotional connection consumers share with natural diamonds.
JB Insights
India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports
With An Estimated 32,000 Tonnes Of Gold Sitting Unused In Homes and Temples, The Government Sees A Massive Opportunity To Reduce Imports, Strengthen The Economy, and Build A More Sustainable Gold Ecosystem.
India is sitting on one of the world’s largest untapped gold reserves, with 30,000–32,000 tonnes of gold held by households and temple trusts across the country. Valued at nearly $3.8 trillion (around Rs. 361 lakh crore), much of this gold remains locked away in cupboards, lockers, and vaults, generating little economic value.
Highlighting the importance of this dormant asset, Prime Minister Narendra Modi recently encouraged citizens to consider recycling idle gold rather than relying solely on newly imported supplies. The initiative aims to bring existing gold back into circulation and make better use of resources already available within the country.
The appeal comes at a time when India continues to depend heavily on imported gold to meet domestic demand. During 2025-26, the country spent approximately $72.4 billion (Rs. 6.88 lakh crore) on gold imports, making the precious metal one of the largest contributors to the import bill.

According to experts, increasing gold recycling could deliver significant economic benefits. Every gram of recycled gold reduces the need for an equivalent amount of imports, helping ease pressure on foreign exchange reserves while also supporting efforts to narrow the country’s current account deficit.
Even a small shift could have a substantial impact. Industry estimates suggest that if just 1% of the gold held by households and temples is recycled each year, India’s gold imports could decline by approximately 25% to 30%.
The vast stockpile of idle gold is rooted in India’s longstanding cultural and financial relationship with the metal. For generations, gold has served as a store of wealth, a safeguard during emergencies, and a symbol of family security and prosperity. As a result, many families continue to hold jewellery that is rarely used but seldom sold.
Viewed from a broader perspective, the government sees this dormant gold stock as a valuable domestic resource. Bringing a greater share of it into the formal economy could help reduce dependence on imports, enhance economic stability, and create a more sustainable gold supply chain for the future.

-
National News32 minutes agoGJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated
-
JB Insights48 minutes agoIndia’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports
-
International News2 hours agoVerlas Explores What A Dream Ring Cut Really Reveals About Her
-
JB Insights3 hours agoAsian Laser Redefines Precision In India: Potenza 225 And Fino 100 Welding Machines Powered By Italian Technology

