A partnership between De Beers Group and the Gem & Jewellery Export Promotion Council (GJEPC) is aimed at bolstering market penetration of natural diamonds in India.

The collaboration, known as the Indian Natural Diamond Retailer Alliance (Indra), will focus on supporting independent retailers in India through various initiatives like providing multi-lingual staff training modules focused on generic natural diamond product knowledge as well as access to a market intelligence portal. The programme will also provide customisable marketing assets and content for retailers to promote natural diamonds at a store level as they seek to enhance their returns and expand their customer base.

A key component will be the use of Artificial Intelligence (AI) to create customised retailer campaigns. 

Sandrine Conseiller, CEO of De Beers Brands, said India has now become the second largest market in the world for retail sales of diamond jewellery, but there is still a “wealth of untapped potential,” given the country’s vibrant economy, growing young population and large number of leading diamond businesses.

“Presently in the Indian jewellery retail sector, the penetration of natural diamonds stands at only around 10 per cent, which is well below the rate seen in mature jewellery markets such as the US,” explained Conseiller. “Through this new collaboration with the GJEPC, we will help unlock this growing opportunity for increased consumer demand for all types of natural diamond jewellery, including bridal, everyday wear and entry level pieces.”

The partnership will also involve in-depth natural diamond jewellery training in local languages. Meanwhile, interactive roadshows about the collaboration are scheduled to start within the month. 

Vipul Shah, chairman of GJEPC, remarked, “The Indian gem and jewellery market, currently valued at US$85 billion, is poised for rapid growth and projected to reach US$130 billion by 2030. Indra reflects a shared vision to educate stakeholders, empower retailers and boost consumer demand while highlighting the timeless value of natural diamonds.”