In a recent Rapaport Diamond Podcast, Richa Singh of the Natural Diamond Council detailed India’s ascent to becoming the world's second-largest diamond consumer market, trailing only the US. This growth is driven by rising national wealth, a shift toward global aesthetics, and the powerful reach of social media and celebrity culture. Singh noted that while gold remains a cultural staple, diamonds have secured a significant place in Indian consumer preferences, a trend bolstered by a recent trade deal with the US and by new 2026 Bureau of Indian Standards terminology standards that distinguish natural stones from lab-grown ones. The discussion also touched on the evolving lab-grown sector, the influence of fluctuating gold prices, and the innovative use of WhatsApp by jewelers to drive modern sales.
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