The Gem & Jewellery Export Promotion Council (GJEPC) highlighted India’s commitment to the global promotion of natural diamonds at the Luanda Accord 3.0 Ministerial Meeting, held in Luanda, Angola, on 5 November 2026, following close on the heels of the African Diamond Producers Association’s (ADPA) 20th anniversary celebrations. The meeting brought together stakeholders of the international diamond industry to discuss collective marketing, consumer confidence and strategies to build long-term demand for natural diamonds.
GJEPC is an established member of The Diamond Collective and the first non-mining industry body to join the Luanda Accord. Its participation brings the perspectives of India’s manufacturing, trading and retail sectors to global efforts to promote natural diamonds.
Kirit Bhansali, Chairman, GJEPC, said: “Natural diamonds represent a global industry built on the partnership between producing nations, manufacturing centres and consumer markets. India has an important role in this value chain, and GJEPC remains committed to working with international industry partners to strengthen consumer confidence and build demand for natural diamonds. GJEPC’s contribution of over US$16 million towards various generic diamond promotion efforts over the past decade reflects this long-standing commitment. The Luanda Accord provides an important platform for the industry to work together on common priorities and communicate the enduring value of natural diamonds to consumers worldwide.”
The Diamond Collective reviewed its 2026 performance, and highlighted efforts focused on increasing the visibility of natural diamonds, strengthening their cultural relevance and building consumer interest across key markets.
Sandrine Conseiller, Chair of The Diamond Collective, emphasised the need for coordinated, long-term marketing and communication efforts to rebuild consumer demand for natural diamonds. She noted that the industry had built the natural diamond jewellery market into an approximately US$80 billion category through collective marketing initiatives that began in the 1940s. However, the withdrawal of these efforts since 2010 had contributed to declining consumer demand.
She identified changing preferences among Millennials and Gen Z, the growing commoditisation of diamonds through online retail, competition from other luxury categories and the narrative surrounding lab-grown diamonds as key challenges facing the industry. While natural diamonds retain strong aspirational appeal, she stressed the need to bridge the gap between consumer aspiration and actual purchasing decisions through greater visibility, storytelling and sustained marketing.
Conseiller also outlined the evolution of the Diamond Council into The Diamond Collective following the Luanda Accord, with new board representation from Angola and India, including GJEPC, and the appointment of Amber Pepper as CEO. The organisation’s work is guided by three priorities: “Desire, Differentiate and Defend”, aimed at rebuilding consumer interest, communicating the distinctive cultural and emotional value of natural diamonds, and strengthening their identity and position in the market.
Addressing the meeting in Luanda, Sabyasachi Ray, Executive Director, GJEPC, noted: “India brings a distinctive perspective to global natural diamond advocacy, combining its position as a leading manufacturing centre with a substantial and growing jewellery market. Through our participation in The Diamond Collective, GJEPC will continue to contribute to collective marketing efforts, retailer education and consumer awareness. We also see considerable scope for collaboration between African producing nations and India's manufacturing and retail sectors. Consistent terminology, informed consumer communication and stronger industry partnerships will be important in building confidence and sustaining demand for natural diamonds.”
GJEPC’s contribution to these objectives builds on its long-standing commitment to generic natural diamond promotion. Over the past decade, the Council has contributed more than US$16 million towards generic diamond promotion, supporting efforts to sustain consumer interest and strengthen demand for natural diamonds across markets. Its ongoing contribution also includes promoting consistent terminology in line with India’s IS 19469:2025 standard, supporting retailer education and consumer awareness through initiatives such as the INDRA programme jointly with De Beers, and bringing India’s market perspective to international natural diamond advocacy.
India represents an important growth market for natural diamond jewellery, currently estimated at US$10 billion, with projections indicating potential growth to US$20 billion by 2030. Its established manufacturing capabilities, extensive retail network and growing consumer base provide significant opportunities for the international natural diamond industry.