DiamondBuzz
US Jewellery Industry faces $117 Billion threat amid proposed diamond tariffs
The World Diamond Council (WDC), representing the global natural diamond value chain, has raised concerns over proposed U.S. tariffs that could place the $117 billion American jewellery industry at significant risk. In a formal appeal, the WDC urged the U.S. Administration to exempt natural diamonds (HS Codes 7102.10 and 7102.31) from the ongoing tariff review and include them in Annex II, citing their critical role in the nation’s economic and manufacturing sectors.
Natural diamonds, though not produced in the U.S., are essential to the health of the domestic jewellery market — a sector supporting over 200,000 American jobs and generating over $91.5 billion in annual sales. The combined impact of jewellery manufacturing and exports adds another $25.5 billion to the economy each year.
The WDC warns that tariffs on natural diamonds would effectively act as a consumption tax, raising prices on popular items like engagement rings and anniversary jewellery, placing additional financial strain on American families. Retailers are already experiencing inventory concerns, with inflationary pressures beginning to impact consumer prices.

“A tariff would destabilize the supply chain, weaken U.S. manufacturing competitiveness, and increase costs for consumers,” said Feriel Zerouki, President of the World Diamond Council. “We support the U.S. Government’s goal of fair trade, but urge an exemption for natural diamonds to protect jobs, competitiveness, and consumer access.”
The United States is the world’s largest consumer of natural diamond jewellery. The WDC emphasized that continued access to these goods is vital to preserving the innovation, craftsmanship, and entrepreneurship that define the American jewellery industry.
WDC members are actively engaging with U.S. officials, calling for a collaborative resolution that supports fair trade without undermining one of America’s most valuable consumer markets.
DiamondBuzz
De Beers Presents “Voyage Through the Diamond Realm” at India Art Fair 2026 Featuring Lakshmi Madhavan
Immersive Installation Blends Natural-Coloured Diamonds with Lakshmi Madhavan’s Kasavu Art at India Art Fair 2026
De Beers unveiled “Voyage Through the Diamond Realm,” at India Art Fair 2026. The immersive installation invites audiences to explore the mythical origins of diamonds. Through visual storytelling, scenography and soundscapes, the installation reveals the living heritage of diamonds, their cosmic and earthly journeys across time.
Positioned at the intersection of art, nature and human expression, the experience acknowledges diamonds beyond adornment — recognizing them as treasured masterpieces shaped by billions of years of time, pressure, and transformation. The multi-sensory narrative, drew parallels between geological creation and artistic practice, revealing how nature, much like art, produces enduring expressions of beauty, rarity, and emotion.

Speaking on the installation and its India debut, Shweta Harit, Global Senior Vice President, De Beers Group, said, “Natural diamonds are among nature’s most extraordinary artworks, formed over billions of years, each one entirely unique. Presenting Voyage Through the Diamond Realm at India Art Fair feels fitting, diamonds are cultural artefacts, that inspire artistic dialogue which feels deeply relevant to India.
Our collaboration with artist Lakshmi Madhavan brings together two worlds of creation, one born deep within the earth, the other shaped by generations of human hands, while our association with India Art Fair reinforces our belief that art is a powerful lens through which material, heritage and meaning can be reimagined.”
Following its debut at Frieze Masters, London in 2025, the India edition underscored De Beers’ continued commitment to the country and deepened the narrative through a collaboration with contemporary artist Lakshmi Madhavan. Her installation featuring Kasavu, Kerala’s traditional gold-bordered handwoven textile, emerged as a compelling focal point.
Developed in collaboration with the Balaramapuram weaving community, the Kasavu installation served as a human counterpoint to the diamond. Together, diamonds and Kasavu revealed shared themes of time, continuity, craftsmanship and transformation.
Reflecting on the collaboration, Lakshmi Madhavan said, “I am truly excited to be part of this collaboration, which allowed me to work with a material that holds as much history, heritage, and cultural meaning as my core material — the Kasavu textile. Adornment emerged for me as one of the earliest human impulses, where materials gain meaning only in relation to the body.

Created in collaboration with the Balaramapuram Kasavu weaving community, the installation positions Kasavu as a human analogue to the diamond. Both materials carry histories of time and transformation and are activated through wear, touch and lived ritual.”
A unique highlight of the installation was the presentation of four exceptional natural-coloured diamonds — Pink, Orange, Light Blue and the rare Chameleon diamond, known for its remarkable ability to temporarily change colour to yellow when gently heated, before returning to its original hue. Displayed as individual expressions of geological artistry, the gems embodied the extraordinary diversity and rarity found in nature.
Adding to this showcase was a five-carat exceptional Forevermark diamond, accompanied by a ring design created by the Milan-based design team, offering interested collectors the opportunity to translate nature’s artwork into a contemporary piece of fine jewellery.
Presented in partnership with India Art Fair, the exhibition reinforced the role of collaborative platforms in expanding cultural dialogue and artistic awareness in India.
The opening reception drew a distinguished gathering from across film, art, design and culture. Among those in attendance were actor Khushi Kapoor, producer and fashion entrepreneur Rhea Kapoor, artist Ravi Vazirani, Yashwant Holkar, Lavina Baldota, designer Tahir Sultan, architect Khsuhnu Hoof among others.
Extending its engagement with India’s art ecosystem, De Beers also hosted an evening in collaboration with India Art Fair’s Young Collectors Programme.The event brought together emerging collectors, creative professionals and young cultural voices for an intimate experience of Voyage Through the Inner Realm, fostering dialogue around art, materiality and strengthening the foundations of India’s contemporary art landscape.
Through its presence at India Art Fair 2026, De Beers’ reaffirmed its commitment to cultural dialogue, craftsmanship and responsible luxury, positioning natural diamonds within a broader narrative where nature itself is the ultimate artist.
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