Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range.
Gold prices have risen by 54% compared to the previous festive season, while prices for smaller diamonds have dropped by approximately 25%.
Jewellers respond to shifting consumer preferences by offering lightweight pieces made from lower-karat gold, including 18K, 14K, and 9K options. Diamond jewellery priced between 10,000 and 100,000 rupees ($100 - $1,000) gains popularity among consumers seeking an alternative to more expensive gold pieces.
Joyalukkas expects a 20% increase in diamond jewellery sales this festive season, driven by the projected availability of diamond jewellery set in lower-karat gold.
According to Senco Gold & Diamonds, diamond jewellery designed for daily wear, such as earrings, rings, pendants, and bracelets priced between 30,000 and 100,000 rupees ($315 - $1,050), will be in highest demand. The company expects this segment to grow by 20% during the festive season.
According to Ishu Datwani, founder of Anmol Jewellers, consumers are increasingly opting for lightweight jewellery due to rising gold prices. At the same time, there is growing demand for small diamonds within affordable price ranges.
These trends signal a shift toward everyday diamond jewellery and value-driven purchases, as retailers seek to address affordability while expanding the category beyond traditional occasion-based buying.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
