India progresses towards the largest global economy

Paul Rowley, Executive VP, De Beers, said, as seen here at IIJS Signature, India truly inspires and Indian entrepreneurship and their drive and passion is infectious. As India progresses towards becoming the largest economies of the world, massive infrastructure investment is changing face of country rapidly and supporting economic development, nurturing businesses and enhancing people’s lives.

“India’s sustainable growth provides optimum environment for business and facilitates innovation to shine. India’s fast growing global stature is the heartbeat of the new global economy. New exciting opportunities are emerging with industrialisation, urbanisation and consumption.

The world is eyeing India’s affluent middle class segment of 30 mn households as potential customers.  This will lead to increased spending on fashion jewellery. The gem & jewellery industry in India is also maturing.

The diverse & distinct worlds of natural diamonds and Lab Grown Diamonds (LGDs) have started to diverge. Natural diamond is unique miracle rare and breath-taking beauty. They symbolise precious enduring love ties across generations, deepest human emotions and the most profound connections humans could have – real diamonds are the most desired cherished and richly symbolic objects in the world.

LGDs do not have the qualities or symbolism of natural real diamond. G7 sanctions are major concern to everyone in global trade and industry has to speak as one voice in a collective and collaborative way. Diamond industry is cyclical and the industry should be optimistic for the next wave.

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