Recent insights from the gems & jewels industry have revealed that the demand for studded diamond jewellery is rising. India’s total jewellery demand in 2018 was 598 tonnes. About 20% of the ornaments sales by volume now consist of diamond-studded jewellery. The sales share of jewellery is rising by a few percentage points every year according to industry insiders. This fad could be attributed to the fact that plain gold ornaments are typically heavier than diamond-studded gold jewellery and many younger customers prefer jewellery that’s not too heavy.
Chirag Sheth, senior research consultant with Metals Focus, a research firm, explained that subdued demand for diamonds in parts of north India in the wake of the Nirav Modi scam was being made up by demand from elsewhere, such as south India.
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