De Beers Group anticipates that India’s demand for diamond jewellery will double by 2030, fuelled by steady economic growth, rising affluence, and changing consumer behaviour. The country, which recently overtook China to become the world’s second-largest market for natural diamond jewellery, is witnessing annual growth rates of around 12%.

With the current market valued at just under USD 10 billion, De Beers is ramping up its operations in India. The company is launching its Forevermark brand in new retail locations, with immediate plans to open four stores—two in Mumbai and two in Delhi. Over the next five years, De Beers aims to establish more than 100 stores across the country, with a strategy focused on reaching tier II and III cities in addition to metropolitan areas.

In parallel, De Beers is pursuing an omni-channel approach by combining physical retail expansion with the launch of e-commerce platforms tailored for the Indian market. The company’s strategy involves a cluster-based retail model to maximize market penetration in each region before moving on to the next.

Marketing efforts for natural diamonds are also being intensified to strengthen brand visibility and consumer engagement. As part of its strategic shift, De Beers is discontinuing its Lightbox lab-grown diamond jewellery brand and redirecting its lab-grown diamond operations through Element Six toward industrial applications, particularly in sectors such as semiconductors and AI technology where India shows strong potential.

With these initiatives, De Beers is positioning itself to meet rising demand and reinforce its leadership in a rapidly evolving and opportunity-rich Indian jewellery market.