1 month, 2 weeks ago
Lab-Grown Diamonds Capture 50% of Export Market
The lab-grown diamonds have been eating into the market of natural diamonds with the former now accounting for half of the export of the stones in volume terms. The replacement of the pricey natural diamonds by lab-grown also has brought down the overall export revenues. While the middle and upper middle class as well as youngsters buy lab-grown for adornment purposes, rich and those interested in stones for investment purposes, prefer natural diamonds,” said Vipul Shah, past chairman, GJEPC. Meanwhile, lab-grown diamonds, despite the price being 60 to 85 per cent lower than natural diamonds, saw export revenues going up from $224 million in FY19 to $1402 million by FY24 – a growth of 525 per cent in five years.
2 years, 9 months ago
Why lab-grown diamonds are key to unlocking future for Indian jewellery industry
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