Boosting Diamonds: INDRA's Sparkling Alliance

The Gem & Jewellery Export Promotion Council has partnered with De Beers Group to form INDRA, focusing on bolstering the natural diamond sector in India. The initiative aims to support retailers, educate stakeholders, and increase consumer demand, leveraging India's young population and expanding economy.

In a move to enhance the natural diamond trade, the Gem & Jewellery Export Promotion Council (GJEPC) has partnered with the De Beers Group. Announced Tuesday, the collaboration is called INDRA - Indian Natural Diamond Retailer Alliance.

INDRA aims to provide independent retailers in India with advanced tools, positioning itself as a key player in the growing market. GJEPC Chairman Vipul Shah highlighted the initiative's purpose as a way to tap into the burgeoning demand among India's youth and support organized players.

With India's gem and jewellery market anticipated to rise from USD 85 billion to USD 130 billion by 2030, this partnership is expected to unlock significant potential. De Beers Brands CEO Sandrine Conseiller noted that, currently, natural diamonds comprise only about 10 percent of the market, a figure the partnership aims to grow by fostering increased consumer demand.

(With inputs from agencies.)