The past few years have seen considerable swings in consumer demands for natural diamonds globally. However, the mood among diamantaires is fairly optimistic despite the challenges brought about by sanctions and a cloudy economic outlook.

Asia Pacific Diamond market is one of the high-prospect markets for Diamond industry stakeholders. Rapid growth in the economy coupled with a fast-paced increase in the consumption power of individuals is encouraging market growth. In addition to Japan and South Korea, developing economies including China, India, Indonesia, and others offer lucrative growth prospects.

India remains the diamond capital of the world right from its famed Golconda mines that supplied the most-sought after historic diamonds that grace the famed jewels, to the present-day manufacturing powerhouse. Today, we produce 14 out of 15 cut and polished diamonds in the world. The nation already produces around three million lab-grown diamonds a year, accounting for 15% of global production, according to the Ministry of Commerce and Industry, Government of India.

In an effort to boost the sector, further, the Indian government abolished a 5% tax on imported diamond seeds and announced funding to help India develop its own diamond seed production. India is where the world shops for diamonds!

In this backdrop, Indian Chamber of Commerce announces the ICC Diamond Conclave, an initiative exclusively for the diamond and diamond jewellery sector, on 7th October 2023, Saturday at Taj Bengal, Kolkata, India. The objective of this Conclave is to cater to queries related to the future growth of Diamond industry, both from B2B as well as B2C perspectives.

Event Theme: Diamond Vision 2030 - India as a key player in the global diamond business