{"id":37429,"date":"2026-08-08T10:30:19","date_gmt":"2026-08-08T05:00:19","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=37429"},"modified":"2026-08-11T10:21:08","modified_gmt":"2026-08-11T04:51:08","slug":"devansh-shah-the-future-of-natural-diamonds-will-be-built-on-rarity","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/devansh-shah-the-future-of-natural-diamonds-will-be-built-on-rarity\/","title":{"rendered":"Devansh Shah: The Future of Natural Diamonds Will Be Built on Rarity"},"content":{"rendered":"

Supply is tightening, consumers are trading up, and India is emerging as a powerhouse for both manufacturing and demand. <\/em>Devansh Shah, Member \u2013 PMBD Sub-committee, GJEPC and Partner, Venus Jewel,<\/em><\/strong> explains why the natural diamond industry is entering a healthier phase and why rarity will define its future. <\/em><\/p>\n

After three difficult years, do you believe the natural <\/strong>diamond industry is approaching a turning point? What <\/strong>gives you confidence?<\/strong><\/p>\n

Yes, it does seem to be a pivotal year. In product and even more in the confidence within and outside the industry.<\/p>\n

The Gross Exports (volume) have increased. Supply has become more constrained, inventories across the pipeline are healthier, and the desire for natural diamon s is better than ever before.<\/p>\n

As consumer confidence improves, we must continue to highlight the enduring rarity, authenticity, and emotional value of natural diamonds.<\/p>\n

With mine supply shrinking, has the industry finally accepted that the future will be smaller in volume but healthier in value?<\/strong><\/p>\n

Diamonds have always been rare, scarce & mystical in nature. The global discovery of rough diamonds has declined by nearly 25% from the peak levels of 2017. We do not have a choice other than accepting the fact that \u2013 there will be fewer diamonds Mother Earth will have for us in the future.<\/p>\n

\"\"
\u00a9 Venus Jewel<\/figcaption><\/figure>\n

Which categories offer the strongest prospects today: larger stones, premium makes, branded jewellery or niche segments?<\/strong><\/p>\n

Each of these categories offers opportunities. Consumers today are buying fewer but better-quality diamonds. Demand is shifting towards larger, higher-quality stones, with the 1 to 3 carat segment showing strong growth in key markets, reflecting consumers\u2019 willingness to invest in rarity and craftsmanship. Each of these categories offers opportunities.<\/p>\n

Niche segments such as fancy shapes, bespoke creations, collector pieces, and traceable natural diamonds will continue to outperform because they offer exclusivity, transparency and individuality. And these are the qualities that resonate and create trust, with luxury consumers.<\/p>\n

The future belongs to businesses that combine exceptional natural diamonds with superior craftsmanship, strong branding, and meaningful storytelling.<\/p>\n

Recycled diamonds are emerging as an important source of supply with a market estimate of around $3.5 billion. How much of an impact are recycled diamonds having on polished prices and inventory levels?<\/strong><\/p>\n

Once natural mining supply dries out, which is expected in the next couple of decades, we will have no option but to rely on upcycling pre-owned diamonds.<\/p>\n

China’s importance has diminished significantly. Which markets do you expect to drive growth over the next decade?<\/strong><\/p>\n

While China remains an important market over the long term, the next decade of growth is likely to be more diversified.<\/p>\n

I believe the future growth of the natural diamond industry will come from a broader mix of markets rather than dependence on any single geography.<\/p>\n

The US will continue to be the largest driver of natural diamond demand, while India will emerge as one of the most promising growth markets for luxury goods.<\/p>\n

\u201cScarcity has always been the defining strength of natural diamonds. As mine supply declines, rarity will become even more valuable, reinforcing the long-term appeal of natural diamonds for luxury consumers.\u201d<\/em><\/p><\/blockquote>\n

How important is domestic demand to the long-term stability of India’s diamond industry?<\/strong><\/p>\n

India’s gem and jewellery market is estimated at over US$85 billion and is projected to reach US$130 billion by 2030, driven by rising incomes, urbanisation, and a growing affluent middle class with a strong aspiration for<\/p>\n

India is also expected to become the third-largest consumer market globally by 2030, shifting consumer preference from traditional gold to natural solitaire jewellery.<\/p>\n

What will the natural diamond business look like in 2030 compared with today?<\/strong><\/p>\n

    \n
  • Gen-Z and the generations to follow will increasingly value real, natural and rare products.<\/li>\n
  • India will continue to be the world’s manufacturing hub; while also emerging as the fastest-growing consumer market for large size natural diamonds & jewellery.<\/li>\n
  • With limited rough diamond production, globally, scarcity will push the prices of natural diamonds up and the right time to buy solitaires is now!<\/li>\n<\/ul>\n

    Key Takeaways<\/strong><\/p>\n

    Recovery is underway, led by stronger fundamentals: <\/strong>Tighter supply, healthier inventories and improving confidence suggest the natural diamond industry has entered a more stable phase after three challenging years.<\/p>\n

    Scarcity will strengthen natural diamonds\u2019 value: <\/strong>With global rough diamond discoveries declining and mine supply expected to remain constrained, rarity will become an even stronger driver of long-term value.<\/p>\n

    Consumers are buying fewer but better diamonds: <\/strong>Demand is shifting towards larger, higher-quality stones, while traceable diamonds, bespoke jewellery and collector pieces continue to outperform.<\/p>\n

    India is set to become the industry’s next major growth engine: <\/strong>Rising incomes, urbanisation and an expanding affluent middle class are expected to accelerate demand for natural diamond jewellery over the rest of the decade.<\/p>\n

    Success will depend on storytelling, not just product: <\/strong>Brands that combine exceptional natural diamonds with craftsmanship, provenance and compelling narratives will be best positioned to win over the next generation of luxury consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Supply is tightening, consumers are trading up, and India is emerging as a powerhouse for both manufacturing and demand. Devansh Shah, Member \u2013 PMBD Sub-committee, GJEPC and Partner, Venus Jewel, explains why the natural diamond industry is entering a healthier phase and why rarity will define its future. After three difficult years, do you believe…<\/p>\n","protected":false},"author":3,"featured_media":37431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96,100],"tags":[],"thb-sponsors":[],"class_list":["post-37429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diamonds","category-in-focus"],"acf":[],"yoast_head":"\nDevansh Shah: The Future of Natural Diamonds Will Be Built on Rarity - 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\/devansh-shah-the-future-of-natural-diamonds-will-be-built-on-rarity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devansh Shah: The Future of Natural Diamonds Will Be Built on Rarity - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Supply is tightening, consumers are trading up, and India is emerging as a powerhouse for both manufacturing and demand. 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