{"id":31736,"date":"2025-05-23T10:16:14","date_gmt":"2025-05-23T04:46:14","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=31736"},"modified":"2025-05-26T09:16:44","modified_gmt":"2025-05-26T03:46:44","slug":"de-beers-ceo-al-cook-indias-natural-diamond-market-set-to-double-by-2030","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/de-beers-ceo-al-cook-indias-natural-diamond-market-set-to-double-by-2030\/","title":{"rendered":"De Beers CEO Al Cook: India\u2019s Natural Diamond Market Set to Double by 2030"},"content":{"rendered":"

India\u2019s natural diamond market is on the cusp of a transformative leap. During his maiden visit to India, <\/em>De Beers CEO Al Cook<\/strong> projected that the country\u2019s natural diamond market\u2014currently valued at just under $10 billion\u2014is set to double by 2030.<\/em><\/p>\n

Al Cook, CEO of De Beers Group, declared that India\u2019s natural diamond market, currently valued at just under $10 billion, is poised to double by 2030. Speaking at a press meet organised at Taj Lands End, Mumbai, on 22 May, during his first visit to India since assuming leadership in February 2023, Cook outlined De Beers\u2019 strategic initiatives to capitalise on India\u2019s booming demand and solidify its position as the heart of the global diamond industry.<\/p>\n

Cook emphasised India\u2019s unparalleled significance, noting that the country has been the \u201cheart and home of diamonds\u201d for over 2,000 years. As the world\u2019s second-largest market for natural diamonds, India processes 90% of global diamond supply, supporting over a million jobs. With demand for natural diamonds in India rising 12% year-on-year, Cook projected that the market\u2019s growth to $20 billion by 2030 will be driven by a burgeoning middle class, rising disposable incomes, and a cultural affinity for natural diamonds. \u201cIndia\u2019s economy is the envy of the world,\u201d he said, highlighting the country\u2019s entrepreneurial spirit and infrastructure growth.<\/p>\n

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Forevermark viewer<\/figcaption><\/figure>\n

To support this doubling, De Beers is launching a multi-faceted strategy tailored to India\u2019s dynamic market. The Forevermark brand will debut in Mumbai and Delhi later in 2025, with plans to expand to over 100 stores across tens of cities within five years. \u201cWe\u2019re adopting a cluster-based approach, combining company-owned and franchise stores with a robust e-commerce platform,\u201d Cook explained, targeting an average ticket size of \u20b92.5 lakh to appeal to aspirational yet price-conscious consumers.<\/p>\n

De Beers is also intensifying marketing efforts to drive demand. The Love From Dad campaign, celebrating milestones like a daughter\u2019s second ear piercing, has struck a chord with Indian consumers. Partnerships with the Indian Premier League (IPL) and Tanishq, India\u2019s leading diamond jeweller, further amplify outreach. Thousands of Tanishq sales staff are being trained by De Beers\u2019 Institute of Diamonds in Surat to educate consumers on the unique value of natural diamonds, emphasising their rarity and ethical sourcing.<\/p>\n

A new venture, INDRA, in collaboration with GJEPC<\/strong>, will support Indian retailers in promoting natural diamonds, with 1,700 retailers already expressing interest ahead of its August launch. \u201cWe\u2019re moving from \u2018from and by India\u2019 to \u2018to and for India,\u2019 reflecting the growing domestic demand,\u201d Cook stated.<\/p>\n

Cook highlighted the growing price gap between natural diamonds and lab-grown diamonds (LGDs), whose prices have fallen 90% since their peak. De Beers recently closed its Lightbox LGD jewellery business in the US, where retailers like Walmart now sell LGD jewellery for as low as $299. \u201cOur mission to differentiate natural diamonds from LGDs is complete,\u201d Cook said, reaffirming De Beers\u2019 focus on natural diamonds.<\/p>\n

To ensure consumer confidence, De Beers launched Diamond Proof, a retail tool that distinguishes natural diamonds from LGDs in three seconds with 100% accuracy. Cook added, \u201cConsumers must know they\u2019re buying a natural diamond,\u201d he stressed, positioning verification as key to sustaining demand growth.<\/p>\n

Sustainability is central to De Beers\u2019 strategy, with a goal of carbon neutrality by 2030. Cook praised Indian polishers in Surat for adopting solar power and highlighted renewable energy initiatives at De Beers\u2019 mines in South Africa and Namibia, including a recent wind power agreement in Namibia. These efforts align with Indian consumers\u2019 preference for ethical, low-carbon products, further fuelling market growth.<\/p>\n

Additionally, De Beers\u2019 Element Six division is exploring synthetic diamonds\u2019 technological applications, such as in 6G technology and quantum computing. \u201cIndia\u2019s rise as a technology powerhouse makes it a natural partner for these innovations,\u201d Cook said, signalling potential investments in India\u2019s semiconductor sector to support the country\u2019s economic growth and, indirectly, its diamond market.<\/p>\n

Navigating Global Challenges<\/strong><\/p>\n

Cook addressed global trade dynamics, expressing confidence in securing tariff exemptions for natural diamonds in US-India trade negotiations, given the absence of commercial diamond deposits in the US. \u201cTariffs act as a consumption tax on US consumers, which isn\u2019t the goal,\u201d he said, noting India\u2019s advocacy, led by Hon\u2019ble Union Commerce & Industry Minister Shri Piyush Goyal, for tariff-free diamond trade. This could further bolster India\u2019s export-driven diamond industry, supporting the projected market doubling.<\/p>\n

Cook\u2019s vision for doubling India\u2019s natural diamond market by 2030 is underpinned by De Beers\u2019 deep-rooted commitment to the country. From the world-leading Institute of Diamonds in Surat to ambitious retail and marketing initiatives, De Beers is positioning India as the global leader in natural diamond consumption. \u201cIndia fell in love with diamonds 2,000 years ago, and that connection endures,\u201d Cook said, emphasising that the country\u2019s economic and cultural dynamism will drive the next chapter of the diamond story.<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s natural diamond market is on the cusp of a transformative leap. During his maiden visit to India, De Beers CEO Al Cook projected that the country\u2019s natural diamond market\u2014currently valued at just under $10 billion\u2014is set to double by 2030. Al Cook, CEO of De Beers Group, declared that India\u2019s natural diamond market, currently…<\/p>\n","protected":false},"author":3,"featured_media":31737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,79],"tags":[],"thb-sponsors":[],"class_list":["post-31736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail","category-viewpoint"],"acf":[],"yoast_head":"\nDe Beers CEO Al Cook: India\u2019s Natural Diamond Market Set to Double by 2030 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/de-beers-ceo-al-cook-indias-natural-diamond-market-set-to-double-by-2030\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"De Beers CEO Al Cook: India\u2019s Natural Diamond Market Set to Double by 2030 - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"India\u2019s natural diamond market is on the cusp of a transformative leap. 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