'Now India's middle class knows taste of diamonds'

Indian women still take pride in filling up their bijou box with gold jewellery. But they are also open to having sparkling diamonds as a prized possession, says an exhibitor from Myanmar, who is here for the 35th edition of the India International Trade Fair.

Myanmar, famous for its ruby and sapphire stones, is one of the foreign countries participating in the India's largest trade fair, which began on Saturday at Pragati Maidan.

A peep into the stall of DQ Myanmar Jewels gives an idea of the richness of the precious stones offered by them.

"We have been coming here for the past 15 years. Every year, we change our collections. This time, we have brought more diamond pieces as in India, gold buyers are also buying diamonds," Neil, partner, DQ Myanmar Jewels, told IANS.

"People in India, including the middle class, now know the taste of diamonds. We are offering diamonds 25 percent cheaper than what you get in the Indian market, so it shouldn't be out of their budget," he added about their diamond jewellery that ranges between Rs.15000 and Rs.15 lakh.

Diamond consumption is said to have gone up in India.

According to the 'Consumer Diamond Purchasing Survey' carried out by diamond mining company De Beers, the rate of diamond acquisition among India's middle class consumers rose sharply from two percent in 2002 to nine percent in 2014.

Another exhibitor from Myanmar ensured that pieces with diamonds on them were included in the exhibits.

"We haven't got completely diamond sets, but yes there are lots of pieces that have diamonds mixed with rubies or emeralds," said Sweety Suezin, a member of Myanmar Gems and Jewellery Entrepreneurs Association.

"Indians love jewellery. So, we are here to sell what they love," she added.

The trade fair will conclude on November 27.