Tanishq Partners With De Beers For Natural Diamonds

Photo: Reuters/Hemanshi Kamani

MUMBAI, (REUTERS) – Diamond miner De Beers is partnering with Tanishq to promote natural diamonds in India, which has surpassed China to become the world’s second-largest diamond market after the US.

The two companies said in a joint statement they had agreed a long-term strategic collaboration to educate Indian consumers, build confidence in natural diamonds and promote their use.

Tanishq, a jewelry brand of Titan Co., will use diamond verification technology from De Beers, a unit of Anglo American, to provide assurance of the authenticity of its products to retail consumers.

Diamond jewelry sales in India have been rising rapidly at a time when China experienced a slowdown.

India is the world’s largest center for cutting and polishing diamonds, accounting for nine out of 10 diamonds polished globally. But its cut and polished diamond exports plunged this year because of weak demand from China.