A difficult question to answer, particularly in India.

Whist it is true that the branded market is growing, with the plethora of brands having been introduced in the last half decade, presumably people are spoilt for choice.

Whilst the jewelers – branded & otherwise are pushing this, there are some basic differences between India & the USA which holds nearly 45% of the world diamond market.

In India, diamond jewellery had normally been handed over during weddings or to be more precise inherited, worn during the lifetime & then polished, reset, redesigned in some case and handed over.

In America, buying a diamond is probably the single largest expenditure that a consumer would make outside buying a house or car.

In India, where families arrange marriages with really no economic commitment from the boy or girl at least in most of the cases; giving a diamond usually does not feature as an event.

In America, the diamond engagement ring is a major economic commitment because once given to the girl, you cannot take it back. (not really but true majority of the times)

In India, the cost of the ring or jewellery would normally not be know, unless discussed amongst family.

Whereas, in USA average cost of a diamond ring would be around $1500 & up.

However the biggest point being all diamonds are unbranded in USA; whereas in India there are branded diamonds & diamond jewellery.

In America one of the largest retailer of diamond is Walmart; whereas in India it is your neighborhood or old family jeweler.

In USA, appreciate that buying a diamond is a very expensive decision, where you need trust, deliberation & understanding of quality and fact of the matter customer knows very little about diamonds.

In India, every family knows a manufacturer or his cousin (actually a sight holder thrice removed probably) and gets the best deal…….

So in the USA which has 45% + of the world diamond market, the trust has now shifted from the manufacturer to the organized retailer.

This has yet to happen in India!

In India, most of the ‘brands’ are owned by the sight holders who already make their money when the roughs are polished, being deal makers and not really retailers at heart.

And the only way to making it a reality, is for the manufacturers & retailers to be separate with due support from the various industry associations, diamond testing laboratories and above all educating the consumer, whilst keeping in mind that unless the market grows (and it has the propensity to do so)your exports cannot keep you alive in a changing economy…

Written by AD
ex waiter, angadia, travel agent, dotcomer, dukaandaar, marketeer, people watcher. appreciates single malt, food, friends