India, June 30 -- India's overall jewellery market is currently valued at about Rs.8,00,000 crore. While the larger market remains predominantly dominated by gold, the domestic natural diamond segment accounts for less than 10 per cent of the current market. However, fuelled by these rapidly changing consumer tastes and a growing desire for self-expression, the natural diamond sector is poised for expansion, with expectations to double in size and reach $20 billion.

For generations of Indians, walking into a jewellery store meant following a time-honoured tradition of choosing a heavy gold piece, wearing it for an occasion or two before tucking it away securely in a locker. The way Indians look at luxury ornaments is also fundamentally c...