The demand for polished diamonds in India and China may soon reach the same level as its American counterpart, and will position them as the biggest diamond consumers in the next decade – at least according to a recent precious stone global demand review by the world's largest diamond mining company De Beers.

Gareth Penny, Managing Director of De Beers, said that China, Hong Kong and India "would (eventually) account for the one-third of the global demand for the precious stones as diamond engagement rings, and other diamond-studded Jewelry are fast becoming a rage among the youngsters, especially among the Indian and the Chinese bride.

"About two decades ago, hardly any Chinese or Indian brides received diamond engagement rings. But, now nearly half of the couples getting married in these countries are buying them," he added.

In 2009, the United States accounted for about 40% of global diamond demand, with China and India around 6%-7%. However, De Beers forecasts that China would soon account for 16% of the global diamond demand and India for the same percentage by 2016.

A recent KPMG study suggested India's 2010 jewelry sales will near $21 billion, and may reach $37 billion by 2015.

Currently, out of eight key world retail markets, the US accounts for 45% of all jewelry sales, including diamond, platinum, gold and others. India and China, which follow with 8.3% and 8.9%, will emerge as the market equivalent to the US by 2015.

Industry sources said the diamond jewelry demand in India is expected to see a 50% hike by 2012, a from the current $4.2 billion diamond trade jewelry sales, attributed to rising gold prices and the fast growth popularity of the diamond-studded Jewelry among the Indians.

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Indian police are puzzled by the recent assault on Ashok Courier Services owner Mahesh Kumar Sharma, who was robbed of Rs2.2 crore worth of diamonds in April.

Sharma was heading towards the domestic airport in his car, on the Western Express Highway, when another car blocked his vehicle, forcing him to stop.

A person stepped out of that car and attacked Sharma before fleeing his bag, which contained – among other valuables – the diamonds.

Indian police are still looking for clues in the case, and although a surprising twist has led investigators to a love triangle connected to the robbery, they have so far been unable to determine which of the three – the presumed-prime suspect, a bar girl and the victim's son – is actually involved.

The police said they arrested a small-time conman, with a previous record of swindling Bhuleshwar market jewelers, in connection to the case. They suspect he must have been aware of Sharma's business, and accordingly tipped off robbers about his plan to carry the diamonds with him on that particular day.

The suspect eventually was released for lack of evidence, but not before police were able to connect him to a certain bargirl, via his cell phone records.

As police were questioning Sharma's relatives, employees and family, they discovered that the victim's son has also been in touch with the same bargirl. Sharma's son told the police that he was having an affair with the girl, and would some times take her with him when he was delivering diamonds on his father's behalf.

The police, however, are not sure whether the girl is involved in the robbery. "We are not sure how exactly these three are involved or if they are involved at all," a police official told Indian media.

Indian police is concerned about the rise in attacks on individuals carrying consignments of diamonds, gems and other ornaments to the airport, as two other such incidents were reported from near the Kherwadi junction in the past two months. 

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With the mere mention of Iran bearing antagonistic associations, it is easy to overlook the fact that the modern-age nation is descendent from the great, ancient Kingdoms of Persia, which dates back some 25 centuries.

The Taj-E-Mah Diamond (lower left stone). The other four loose diamonds weigh
72.50 carats, 54.50 carats, 47.50 carats, and 54.35 carats. The cushion-shaped
one on the top left was probably cut from an even larger diamond.

The original conquering kingdom eventually fell prey to regional and political upheaval, but the royal line forged on, building, among other things, one of the most prestigious collections of royal treasures.

Unfortunately – but as royal treasures often go – many of the pieces were lost over time. Nevertheless, for the past 200 years, the collection of royal jewels and ornaments has been carefully guarded, and though its exact value remains unknown, it is known to contains some of the rarest jewels around. 

When the contents of the treasury of the Imperial Jewels of Iran was first made public, displayed at the Museum of The Treasury of National Iranian Jewels in the 1960s, it was found to contain  three legendary Indian diamonds: Darya-i-Nur ("Sea of Light"), Nur-ul-Ain ("Light of the Eye") and the Taj-i-Mah ("Crown of the Moon").

The Darya-i-Nur diamond is one of the largest pale-pink diamonds in the world, weighing an estimated 182 carats. The Nur-ul-Ain Diamond, also one of the largest pink diamonds in the world, weighs about 60 carats. Both are believed to have been cut from the same stone – the Great Table Diamond – a legendary pink diamond first reported in 1604, which experts believe weighed 350-450 carats.

The Taj-i-Mah diamond is the largest un-mounted Indian diamond in the collection. It is colorless and weighs 115.06 carats. Darya-i-Nur and Taj-i-Mah are set in a pair of armbands,  a somewhat puzzling choice for gems of this caliber.

Both the Darya-i-Nur and the Koh-i-Noor diamonds are said to have been in the possession of the first Mogul emperor of India, from whom they descended to Mohammed Shah. The latter is believed to have been worn by Fat'h Ali Shah Qajar.

The Koh-i-Noor ("Mountain of Light")  diamond is legendary in its own right: believed to have predated the time of Christ, at 186 carats it was once the largest diamond in the world. Several theories suggest that it is the Koh-i-Noor diamond, rather than the Darya-i-Nur diamond, which was the companion diamond to the Taj-i-Mah in collection's armbands.

It has always been conjectured that the Darya-i-Nur and the Taj-i-Mah diamonds were sister stones, but it may not be true form a gemological standpoint,  since the Darya-i-Nur is light pink while the Taj-i-Mah is colorless – like the Koh-i-Noor diamond.

Gemological genealogy aside, we now have three spectacular diamonds. One can only wonder what other prize possessions are waiting to be discovered among the Imperial Jewels of Iran.