Ajay Kumar, Proprietor, Lab Grown Company, Surat has been manufacturing and dealing in lab-grown diamonds since 2020. He predicts the LGD jewellery market will boom in another 10 years.
Tell us more about your company and when did you establish it?
We decided to establish our company in 2019, but due to Covid we got delayed and could start work in late 2020. Later, we started manufacturing jewellery studded with labgrown diamonds as well as started retailing it since 2021. We opened our first showroom of Only Lab Grown Diamond Jewellery in Surat.
What is your current manufacturing capacity for lab-grown diamonds?
We believe in quality work, and our aim is to give our valuable clients best quality diamonds and jewellery.
Currently, we have an inventory of more than 500 pieces of jewellery studded with LGDs in stock and a choice of more than 3,000 designs to offer to our customers.
With the current Budget favouring LGDs, how do you see the lab-grown diamond market evolving over the next five to ten years, and what is your company’s strategy for staying competitive?
Well, we think this is the starting of a new era. First, LGDs are very affordable and it can be grown without disturbing Mother Nature.
The LGD market will boom in the coming years, and I believe that every household will own at least one piece of LGD jewellery within the next 10 years.
Which are your dominant export markets and your expansion plans?
We are exporting to the US currently, and in the future we plan to penetrate into the European and the Middle East markets.
What are your expectations from IIJS Tritiya?
We have high hopes from IIJS Tritiya and are keen to tap the South Indian region as they are one of the largest consumers of jewellery of all types.