GJEPC and De Beers Group launch strategic alliance to transform India’s natural diamond market  

Launched during IIJS Signature 2025, the new initiative aims to expand natural diamond market penetration as India emerges as world’s second-largest diamond jewellery retail market 

Mumbai: The De Beers Group and the Gem & Jewellery Export Promotion Council (GJEPC) unveiled a groundbreaking collaboration at the Jio World Convention Centre on 7th January 2025. The Indian Natural Diamond Retailer Alliance (INDRA) seeks to revolutionise the country’s natural diamond sector through technological innovation and enhanced customer engagement. 

Launched during IIJS Signature 2025, the initiative was spearheaded by Sandrine Conseiller, CEO of De Beers Brands, and Vipul Shah, Chairman of GJEPC. Shah highlighted the sector’s remarkable trajectory, stating: “India’s gem and jewellery market, currently valued at USD 85 billion, is projected to reach USD 130 billion by 2030. INDRA will capitalise on our dynamic young population, the rise of organised retail, and growing demand across bridal, everyday wear, fashion, and entry-level jewellery segments.” 

Conseiller underscored India’s emergence as the world’s second-largest market for diamond jewellery retail sales. “Despite its significant growth, India’s potential remains largely untapped. Natural diamonds currently represent only 10 per cent of the jewellery retail sector, substantially lower than mature markets like the United States,” she noted. 

INDRA will harness artificial intelligence to deliver customised, multi-lingual marketing campaigns, facilitating immersive storytelling and enhanced consumer education about natural diamonds. The alliance will also provide comprehensive training programmes in regional languages, equipping retailers with essential tools for deeper customer engagement. 

The initiative’s nationwide rollout begins with interactive roadshows from January 2025, offering GJEPC members streamlined programme enrolment. PMJ Jewellers Pvt Ltd and DP Abhushan Ltd have already joined as inaugural members, demonstrating the programme’s accessibility. 

This collaboration marks a pivotal moment for India’s jewellery industry, targeting retailers across Tier 1, 2, and 3 cities with the ambitious goal of expanding market share to 50 per cent. As the government-designated authority for the Kimberley Process Certification Scheme, GJEPC ensures compliance with US Federal Trade Commission standards.  

This partnership combines De Beers Group’s international expertise with GJEPC’s market knowledge to strengthen India’s position in the global diamond market. 

Written by Mohini Pradhan 

Retail Jeweller India News