Lab-Grown Diamond Sector: A Supernova In The Making

Lab-grown diamonds “The Rising Sector” – aptly named session @Innov8 Talks @GJEPC IIJS Signature 2023 was an engaging panel discussion on lab-grown diamonds (LGDs) and the various aspects leading to the growing demand for these man-made creations. A diamond is a girl’s best friend but the best friends of this tech-savvy GenZ generation are emerging from labs!

Speaking about the diamond retail market in the U.S., Edahan Golan of Edahan Golan Diamond Research & Data Ltd. explained the various dynamics of the growth of the lab-grown diamond in the U.S. market. He gave insights into the pricing, product demand and market coverage of LGDs in the U.S. The research-backed treatise was a wonderful case study that gives clues on how the Indian market will eventually follow the evolutionary path of the GIA Introduces The Digital Diamond Dossier Lab-Grown Diamond Sector: A Supernova In The Making “Papa ni Pari” Social Initiative Wins Hearts Apoorva Deshingkar, Senior Director – Education and Market Development, GIA gave a presentation on the digital transformation of reports with the recent launch of the fully digital GIA Diamond Dossier, the most widely available diamond grading report in the world. developed markets. The Indian diamond market witnessed a fundamental paradigm shift post the pandemic and the steep upward curve seen today is a telling acceptance of LGDs in India. While sketching the evolution of LGDs in the country, Mr. Shreyance Shah, Director, Flawless Allure, mentioned that the Indian diamond market has witnessed several interesting stages including being seen as a threat initially right up to today wherein new-age consumers are now seen purchasing LBDs with an open heart and mind.

Mr. Smit Patel, Director, Greenlab Diamonds LLP, rightly named the lab-grown diamond as an “IVF baby” while alluding to a simpler comparison between the natural and labgrown diamonds. The millennials and GenZ are more open to LGDs from the economic and environmental point of view unlike the previous generation. Looks like the IVF and test tube babies are going to give their natural siblings a run for their money.

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