Reasons why conscious luxury will lead India’s jewellery market in 2026
Anand Lukhi
As India steps into 2026, the jewellery industry stands at the intersection of tradition and transformation. For decades, luxury jewellery was defined by scarcity, high price points, and occasion-led consumption. Diamonds were aspirational, reserved for weddings, anniversaries, and heirloom moments. Today, that definition is rapidly evolving. Luxury in India is no longer measured by exclusivity alone it is increasingly shaped by intention, accessibility, and responsibility. At the centre of this shift is the rise of conscious luxury, powered by lab-grown diamonds.
Over the past year, we have seen a clear change in consumer behaviour. Buyers are no longer questioning the authenticity of lab-grown diamonds. Instead, they are questioning the relevance of old luxury norms. The new consumer wants jewellery that reflects personal values as much as personal style beautiful, ethical, and designed for everyday life.
Luxury Moves from Occasion to Everyday
One of the most defining trends heading into 2026 is the shift from occasion-based jewellery to everyday fine jewellery. Indian consumers are choosing pieces that can be worn to work, social gatherings, travel, and daily life. Jewellery is becoming an extension of identity rather than a symbol locked away for milestones.
Lab-grown diamonds are central to this change. With prices significantly more accessible than mined diamonds, they enable consumers to invest in quality jewellery they actually wear. Instead of owning one statement piece, buyers are curating versatile collections solitaires, stackable rings, minimal earrings, and refined bracelets that fit seamlessly into modern lifestyles. Luxury is no longer about owning less and spending more; it is about wearing more and wearing well.
Design Freedom Redefines Fine Jewellery
Conscious luxury is also unlocking unprecedented design freedom. When the diamond itself is no longer the primary cost constraint, creativity flourishes. Designers are exploring lighter silhouettes, contemporary forms, gender-neutral designs, and diamond-forward men’s jewellery categories that were once niche or unaffordable.
This evolution resonates strongly with younger consumers professionals, entrepreneurs, and globally influenced buyers who prioritise individuality over convention. They are less bound by traditional jewellery rules and more inclined toward self-expression. For them, luxury is modern, personal, and expressive, rather than ceremonial or status-driven.
Ethics and Transparency Become Non-Negotiable
As we look ahead to 2026, conscious consumption will move from preference to expectation. Sustainability, ethical sourcing, and transparency are no longer optional narratives they are fundamental to trust. Consumers want to know where their jewellery comes from, how it is made, and the impact it leaves behind.
Lab-grown diamonds naturally align with this shift. Produced in controlled environments with significantly lower environmental impact, they offer traceability and peace of mind without compromising brilliance or quality. For millennials and Gen Z in particular, this alignment of ethics and aesthetics is critical in shaping purchasing decisions.
A New Gateway to Luxury
Perhaps the most powerful role conscious luxury plays is its ability to democratise fine jewellery. Lab-grown diamonds are creating a bridge between aspiration and access allowing consumers to enter the world of fine jewellery earlier in life, build emotional connections with brands, and evolve their collections over time.
As the Indian jewellery market matures, conscious luxury will define its future. It represents a shift from legacy-driven consumption to lifestyle-driven choices. At Lukson, we believe 2026 will be the year when conscious luxury becomes the norm not the exception reshaping how India experiences, values, and wears jewellery.
Anand Lukhi is Founder & CEO, Lukson
