Catch a falling diamond! Indians want solitaires as price falls by 30%
Times of India
by TOI BUSINESS DESKFebruary 25, 2026
AI-Generated Deep Dive Summary
Diamond prices in India have dropped significantly, sparking a surge in solitaire jewelry demand among younger consumers aged 28–40. This shift is driven by improved affordability, with engagement rings now priced at Rs 5–5.5 lakh compared to Rs 7–8 lakh last year. Industry executives report a 25-35% year-on-year increase in solitaire sales, fueled by rising purchasing power and a preference for diamond-heavy jewelry over gold.
The decline in diamond prices reflects weaker export demand, particularly due to U.S. tariffs and reduced Chinese purchases. This has made solitaires more accessible, especially for those seeking affordable luxury. Millennials are leading the trend, with many opting for solitaires priced at Rs 2 lakh—cheaper than traditional gold jewelry—and using less gold in their designs.
Jewelry companies like Zen Diamond India are seeing a surge in first-time buyers, particularly in the 28–40 age group. While engagements remain the primary purchase driver, nearly 30% of solitaire sales now come from self-purchases or milestone celebrations. Younger consumers prefer simple, meaningful designs over traditional opulence, reflecting a broader shift toward individuality and accessibility.
The drop in diamond prices has also expanded the market for lower-purity gold jewelry, such as 9-carat and 14-carat options, which are gaining traction due to their affordability and lighter weight. The Bureau of Indian Standards (BIS) hallmark certification for 9-carat gold has further boosted consumer confidence, leading to a 200% increase in sales since its introduction.
This trend highlights how consumers are adapting to high gold prices by turning to studded jewelry and lightweight diamond pieces. Industry experts predict that this shift will help jewelers navigate challenges posed by fluctuating demand and inventory management. For readers interested in global consumer trends, this reflects a broader redefinition of luxury and value-seeking purchasing behavior.
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Originally published on Times of India on 2/25/2026