Gitanjali Group on Friday launched Diamond Price Index and Online Diamond Store ezeediamonds.com, to promote diamonds as an investment option.

The index is an online and on-ground venture aimed at integrating the retailing of loose diamonds with a transparent issue of its price list and creating a new diamond index, Gitanjali Gems Ltd vice president Anuj Rakyan said in New Delhi.

"The price of the diamonds, which would come in a sealed pack of one carat, would change weekly and would be printed in all the financial dailies, trade magazines and at the online diamond store," said Rakyan.

"Ezeediamonds is about selling loose diamonds on a retail platform in just the way gold in India is. It would change the way the common man currently looks at diamonds," the group chairman Mehul Choksi said. The group is the promoter of D'damas, Gili and Sangini brands.

The group also launched Revv, the brand targeted at youth, under which they plan to sell jewellery made of steel, titanium and tungsten.

The group also announced Bollywood actor Upen Patel as the new brand ambassador of Desire Lifestyle's Revv Jewellery.

It showcased Vivaha collection of D'damas, with actor Amrita Rao endorsing the collection.