Tanishq, the country’s largest jewellery retailer, has launched “Diamond Expertise Centres” in select outlets, with plans to scale the initiative to 200 stores this fiscal year and eventually 500. The centres provide customers with gemmological tools and expert-led consultations, aiming to build confidence in the authenticity of natural stones.

De Beers’ diamond brand Forevermark is also sharpening its focus on India, outlining plans to open about 100 standalone stores by 2030 and targeting $100 million in annual sales.

Lab-grown diamonds (LGDs) remain a niche segment in India, accounting for only a small share of sales by value, compared with over one-third of the market in the US. Industry analysts attribute this to cultural differences: while American buyers often seek larger, lower-cost stones, Indian consumers tend to prioritise quality and authenticity over size.

“The biggest question our customers ask is: are your diamonds natural?” the CEO of Tanishq told CNBC, reflecting ongoing consumer caution despite the brand’s exclusive use of natural diamonds.

Plunging LGD prices have further dissuaded Indian jewellers from entering the category. CaratLane’s CEO told the Economic Times: “We are not going to get into LGD, that’s very clear. At the falling rate of LGDs, making money would be very difficult for anybody who is venturing into it.”

Instead, demand is rising for smaller-sized natural diamonds. CaratLane’s “mini solitaire” range—stones between 0.2 and 0.7 carats—has emerged as the company’s fastest-growing category, especially popular among young, first-time buyers.

The divergence with Western markets is also visible in gold preferences. In the US, 10- to 14-karat jewellery is common, while Indian consumers continue to favour higher purities of 18 to 22 karats, reinforcing the cultural emphasis on long-term value.

Amid global shifts in diamond supply and pricing, India’s jewellers are sending a clear message: natural diamonds remain at the heart of their strategy, positioned as both aspirational and enduring for a new generation of buyers.