An ancestral ring, a gift of love, or a core memory sealed in eternal sparkle; natural diamonds are not merely beautiful gemstones; they are heirlooms created over billions of years, carrying the weight of intrinsic cultural and emotional value. They’re woven into traditions, especially in cultures like India’s, where diamonds are symbolising love, emotions, purity, strength, and enduring beauty. While lab-grown diamonds may look similar to natural diamonds, they cannot replicate the silent stories passed down many generations and the rarity of the natural diamond experience.
Today’s consumer is hyper-aware, they are not just buying products, they buy into the philosophy of the brand. Consumers are looking for sustainability, transparency and environmental responsibility. They turn away from brands that don’t resonate with their personal values and choose conscious consumption.
Amidst all this, the rise of ‘greenwashing’ by certain brands poses a unique challenge that tends to not only misleads consumers but also undermine the integrity and ethical efforts of the natural diamond retailers. A study by Advertising Standards Council of India (ASCI) reported that 79 percent of green claims made by organisations across sectors, were overstated or misleading. This has urged all industry players to engage in honest and fair advertising practices and follow the guidelines set by recognised bodies like the ASCI. It helps foster a truthful marketplace and further build consumer confidence in our category. This helps to highlight any communication that might incorrectly influence and negatively impact consumer perception about diamonds. The idea is to dispel ambiguity by indulging in the right marketing narrative for the benefit of the consumer.
The natural diamond industry is taking measurable and verifiable steps to ensure transparency in sourcing. In alignment with the global standards, large-scale diamond mining companies are publishing thoroughly assessed sustainability reports and enhancing supply chain traceability through blockchain enabled technology. 83% of the water used for mining is recycled, and 99% of waste- mostly rock, is responsibly reclaimed into the landscape during mine closure and rehabilitation. While building on these, several key companies in the natural diamond industry are achieving their ESG targets and inching closer to their net-zero goals, years ahead of their schedule.
Another critical challenge is that natural and lab-grown diamonds are sold with similar labels, fuelling confusion and deceiving consumers further. Regulatory bodies like the Central Consumer Protection Authority (CCPA) initiated a terminology guideline to distinguish transparency in the terminologies used to distinguish natural diamonds and lab-grown diamonds. Industry organisations like the Gems and Jewellery Export Promotion Council (GJEPC) have urged the government for stricter regulations to clearly differentiate natural diamonds from their synthetic counterparts.
The natural diamond industry showcases responsibility by ensuring traceability, publishing verifiable sustainability metrics, nurturing the right partnerships, complying with regulations, and sourcing ethically.
Transparency is crucial for consumer trust and fair trade. These efforts are creating measurable impact on both the environment and communities. I recall what Paul Polman once rightly pointed out, “Great companies drive value as a result of putting themselves in service of people and planet, not despite doing so. It’s not about choosing between profit or purpose, it’s about delivering profit through purpose.” The natural diamond industry goes beyond selling a diamond and its enduring value – it is about being transparent, trustworthy, and led by integrity, empowering consumers to make informed choices.
