The Gem & Jewellery Export Promotion Council (GJEPC) reaffirmed India’s commitment to the global promotion of natural diamonds at the Luanda Accord 3.0 Ministerial Meeting in Luanda, Angola, on 5 November 2026. The meeting brought together international diamond industry stakeholders to discuss collective marketing, consumer confidence and strategies to strengthen long-term demand for natural diamonds.
Quick Summary
- GJEPC reaffirmed India’s commitment to global natural diamond promotion at the Luanda Accord 3.0 Ministerial Meeting in Angola.
- GJEPC is an established member of The Diamond Collective and the first non-mining industry body to join the Luanda Accord.
- GJEPC Chairman Kirit Bhansali highlighted the Council’s contribution of over US$16 million towards generic diamond promotion over the past decade.
- The Diamond Collective reviewed its 2026 performance and outlined strategies to rebuild consumer interest in natural diamonds.
- The organisation’s three priorities are “Desire, Differentiate and Defend”.
- GJEPC continues to support consistent terminology, retailer education and consumer awareness through initiatives including the INDRA programme jointly with De Beers.
- India’s natural diamond jewellery market is currently estimated at US$10 billion, with potential growth to US$20 billion by 2030.
GJEPC Reaffirms India’s Commitment to Natural Diamond Promotion at Luanda Accord 3.0 Ministerial Meeting
Global Diamond Industry Stakeholders Convene in Angola
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 Strengthens India’s Representation in Global Natural Diamond Advocacy
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 Highlights India’s Long-Standing Commitment
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 Reviews Its 2026 Performance
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 Emphasises the Need for Coordinated Marketing
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.
Changing Consumer Preferences and Industry Challenges
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.
The Diamond Collective Outlines Its Three Strategic Priorities
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.
Sabyasachi Ray Highlights India’s Role in Global Diamond Advocacy
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 Continued Contribution to Natural Diamond Promotion
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’s Natural Diamond Jewellery Market Offers Significant Growth Potential
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.
About The Gem and Jewellery Export Promotion Council (GJEPC)
The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 11000+ members in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.
FAQs
What is the Luanda Accord 3.0 Ministerial Meeting?
The Luanda Accord 3.0 Ministerial Meeting was held in Luanda, Angola, on 5 November 2026, bringing together international diamond industry stakeholders to discuss collective marketing, consumer confidence and strategies to strengthen demand for natural diamonds.
What is GJEPC’s role in the Luanda Accord?
GJEPC is an established member of The Diamond Collective and the first non-mining industry body to join the Luanda Accord, representing India’s manufacturing, trading and retail sectors.
How much has GJEPC contributed towards natural diamond promotion?
GJEPC has contributed more than US$16 million towards generic diamond promotion efforts over the past decade.
What are the three priorities of The Diamond Collective?
The three priorities are “Desire, Differentiate and Defend”, focusing on rebuilding consumer interest, communicating the distinctive value of natural diamonds and strengthening their market position.
What challenges are facing the natural diamond industry?
The industry faces changing consumer preferences among Millennials and Gen Z, online retail commoditisation, competition from other luxury categories and the narrative surrounding lab-grown diamonds.
What is the projected size of India’s natural diamond jewellery market by 2030?
India’s natural diamond jewellery market is currently estimated at US$10 billion, with projections indicating potential growth to US$20 billion by 2030.
What is India’s IS 19469:2025 standard?
It is the standard referenced by GJEPC in its efforts to promote consistent terminology for natural diamonds.
Source: SVAR Media Network
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