Navigating the Future of Natural Diamonds Amidst Lab-Grown Competition

As the diamond industry grapples with declining demand and the rise of lab-grown alternatives, Toranj Mehta from De Beers India discusses how natural diamonds can maintain their relevance. With a growing market share and emotional connections to modern celebrations, natural diamonds are adapting to consumer needs. New regulations ensure transparency in distinguishing between natural and synthetic diamonds, while strategic marketing efforts aim to recover the sector. This article delves into the evolving landscape of the diamond market and the future of natural diamonds.

By Narendra Chaudhary Jul 3, 2026, 14:48 IST

The Relevance of Natural Diamonds in a Changing Market

As the diamond market experiences a decline in demand, the rise of lab-grown diamonds and employment issues are pressing concerns. In an interview with Toranj Mehta, Country Head of Category Marketing at De Beers India, we explore key questions consumers are asking.

Q. How can the natural diamond market stay relevant amidst the growing popularity of lab-grown diamonds?

A. Natural diamonds maintain their significance by adapting to steady market growth and shifting consumer narratives. In India, the global demand for natural diamonds has consistently increased, with its market share rising from 8% in 2021 to an anticipated 12% in 2024. The demand value is projected to reach INR 1,520 billion by 2030. This resilience is not just financial; it is also emotional, as consumers now associate natural diamonds with modern celebrations beyond traditional bridal contexts. Milestones such as second piercings, friendships, and personal achievements are now being commemorated with natural diamonds. Our campaigns, like 'Love from Dad' and 'Love from Bestie,' reflect these contemporary moments, reinforcing the idea that natural diamonds symbolize genuine connections in life.

Q. How can consumers differentiate between natural and lab-grown diamonds without specialized equipment?

A. Natural diamonds carry significant emotional and financial value, making consumer safety a priority. To safeguard buyers from synthetic imitations, India has recently implemented BIS guidelines under IS 19469: 2025, which align with international standards. This framework, developed in collaboration with the government and major retailers, ensures clear and standardized disclosures, distinguishing rare natural diamonds from mass-produced synthetics. Additionally, De Beers employs advanced verification tools that deliver quick, independently verified results with no false positives, guaranteeing authenticity for every purchase. While natural diamonds are finite treasures that appreciate over time, synthetics are merely transactional products that can be produced endlessly.

Q. With the diamond sector facing weak demand and losses, what steps can be taken for recovery?

A. The diamond midstream has faced challenges from geopolitical issues, post-pandemic delays, and synthetic supply, but the sector is resilient and adapting. By maintaining strict supply discipline, flexible logistics, and strategic marketing, we are laying the foundation for recovery. As trade tensions ease and inventory levels stabilize, retailers will find significant growth opportunities. Importantly, the market is evolving; lab-grown diamonds are increasingly viewed as mass-produced, allowing natural diamonds to shine in their rarity and value. Over the past two years, we have made substantial marketing investments and are expanding our Forevermark diamond jewelry stores across India. By emphasizing the 'India Diamond Story,' which dates back 2,500 years, we aim to double the domestic market by 2030, ensuring that the sector becomes more consumer-focused and narrative-driven than ever.