Bengaluru/Mumbai, Oct. 10 -- Indian jewellers are stepping up their luxury pitch for natural diamonds this festive and wedding season, playing up their rarity and lasting value as cheaper lab-grown stones vie for the same consumer cohort. With natural diamond prices under pressure, jewellers are looking to attract more buyers and create new occasions for purchases in a market that's still largely untapped.

India is the world's second-largest market for natural diamond jewellery after the US, accounting for 12% of global demand, according to De Beers, global diamond mining and jewellery giant.

The diamond market is seeing mounting pressure. De Beers' average realized rough-diamond price fell 32% to $105 a carat in the first half of 2026,...