Diamond prices in India showed stability on February 1, 2026, the day the Union Budget 2026 was presented. While gold and other commodities often react quickly to fiscal announcements, diamonds remained largely unaffected.
Retail rates continue to be driven by quality, certification, and jeweller inventory rather than budgetary measures, with no immediate impact seen on the domestic diamond market.
Diamond Prices Today (February 1) in India (Carat Wise)
Diamond prices in Indian retail markets remained largely stable on February 1, 2026, the day the Union Budget 2026 was presented. Despite some expectations of market movement, diamond rates showed no significant change, as they are less immediately reactive to fiscal announcements compared to gold. Retail demand continues to be guided by quality, certification, and jeweller stock.
Diamond Price Estimates (Representative Retail Rates):
- 1 Carat Diamond: Around ₹65,000 — premium quality stones cost higher depending on cut, clarity, and certification.
- 0.75 Carat Diamond: Approximately ₹48,750 — typical mid-range stones.
- 0.50 Carat Diamond: Roughly ₹32,500 — commonly available small stones.
- 0.25 Carat Diamond: Around ₹16,250 — entry-level consumer stones.
- 0.10 Carat Diamond: About ₹6,500 — for very small carat sizes.
Note: Prices vary depending on the 4 Cs (Cut, Colour, Clarity, Carat) and whether the stone is certified (GIA/IGI). Retail markups, making charges, and GST also affect the final cost.
Budget 2026 Impact on Diamond Prices
No immediate impact: Diamond prices did not show movement post-Budget 2026. Tax structure unchanged: Budget announcements did not include direct changes to import duties, tariffs, or GST on diamonds. Market stability: Retailers and buyers continued with routine purchasing activity, without budget-driven fluctuations.
Why Diamond Prices Have Not Shifted Post-Budget 2026?
Diamonds are not traded on a daily national exchange, unlike gold, so fiscal announcements rarely trigger instant price changes. Retail pricing is determined by quality, certification, and jeweller inventory, rather than macro fiscal signals. Budget 2026 did not include measures affecting diamond imports or domestic trade, which are the primary levers influencing pricing.
Budget 2026: Market Insights & Industry Context
Stable consumer demand: Especially in wedding season markets, demand remains steady.
- Lab-grown vs natural diamonds: Lab-grown diamonds continue to be cheaper, though increasing LGD certification (IGI) is helping standardize pricing.
- Export & trade environment: Surat and other diamond hubs are managing tariff challenges and global market fluctuations, indirectly influencing retail rates.
- Global trends: Natural diamond prices are gradually rising internationally, while smaller stones and commercial-quality diamonds remain stable.
Buying Tips in India
- Always request a certified diamond (GIA/IGI) to ensure authenticity.
- Compare jeweller quotes across cities and stores — prices can vary widely.
- Clarify making charges and GST, as they significantly impact the final purchase cost.
- Check the 4 Cs (Cut, Colour, Clarity, Carat) before making a decision, especially for premium stones.
