so, depending on your buying range. but India is the cheapest followed up by China, Dubai, Thailand, and Belgium. they are the cheapest because most of the world's diamonds are cut there. so you do not have to pay any markup due to shopping or retailer markup.

In 2026, India remains the cheapest country to buy diamonds, specifically in the city of Surat, which processes over 90% of the world's cut and polished stones. Because the labor and cutting happen locally, the markup for shipping and middle-man brokerage is significantly lower than in the U.S. or Europe. Dubai (UAE) is another top contender, favored for its "tax-free" status on loose stones and highly competitive retail market in the Gold Souk. While Belgium (Antwerp) is the global trade hub, it is often better for wholesale or high-end investment stones rather than "bargain" retail. However, "cheap" is relative; while the base price in India may be 10-15% lower, you must factor in import duties and GST (3% in India) and the cost of GIA or IGI certification. For those seeking the absolute best value, buying a "loose" stone in Dubai or India and having it set locally is generally the most cost-effective path, provided you have done your homework on the "Four Cs" to avoid overpaying for low-quality material.