HOW LAB GROWN CVD DIAMONDS CAN BE INDIA'S ACE CARD IN GLOBAL GEMS & JEWELLERY INDUSTRY
Indian Jeweller|April - May 2020
In the time of crisis, lab-grown CVD diamonds can be India’s answer to growth and success
HOW LAB GROWN CVD DIAMONDS CAN BE INDIA'S ACE CARD IN GLOBAL GEMS & JEWELLERY INDUSTRY

In times when the global diamond industry had been challenged with declining natural diamond prices driven by decreased global consumption, geopolitical tensions, reduced financial aid from banking institutions, demonetisation struggles in India and a collective scaleback of production by the miners worldwide, lab grown diamonds have seem to emerge slowly as a ray of hope and establish a growing footprint in the gems and jewellery industry.

2019, particularly, was the year for labgrown diamonds. India, alone, witnessed a sharp rise in LGD exports worth $443 million which were up by 102% y/y. Even at the start of 2020, lab-grown diamond exports in India were up by 60% y/y, while natural diamond exports were down by 41% y/y.

Whilst the lab-grown diamond industry had seen a significant price correction in recent years with the technology evolving and the cost of technology coming down, lab-grown diamond prices, particularly CVD diamonds, have now stabilized. In fact, CVD diamonds above 1ct saw a 29% price rise in the last quarter of 2019 driven by significant demand and limited supply.

Globally, estimated at INR 13,300 Cr currently, the lab-grown diamond jewellery market is expected to rapidly rise to INR 36,000 Cr by 2023 and exceed INR 1,00,000 Cr by 2035, says a recent report by renowned analyst, Paul Zimnisky.

These hefty numbers are not just what adds on to the prospect of diamonds created using the CVD technology, the major shift in consumer consumption patterns is a great contributor to the rise in demand for lab grown CVD diamonds.

Esta historia es de la edición April - May 2020 de Indian Jeweller.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición April - May 2020 de Indian Jeweller.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE INDIAN JEWELLERVer todo
LEGENDARY PHILANTHROPIST SULTAN SINGH BACKLIWAL PASSES AWAY
Indian Jeweller

LEGENDARY PHILANTHROPIST SULTAN SINGH BACKLIWAL PASSES AWAY

Late Sultan Singh Backliwal was a revered figure, renowned scholar, businessman and philanthropist -- the extent of his benevolence continues to inspire many

time-read
1 min  |
February - March 2024
BRETT LEE INAUGURATES MALABAR GOLD & DIAMONDS SHOWROOM IN SYDNEY
Indian Jeweller

BRETT LEE INAUGURATES MALABAR GOLD & DIAMONDS SHOWROOM IN SYDNEY

Malabar Gold & Diamonds, ranked as the sixth largest jewellery retailer globally, has opened its latest showroom in Sydney, Australia - with this, the company has marked a presence in 13 countries.

time-read
1 min  |
February - March 2024
PLATINUM EVARA EMBRACES THE SPIRIT OF THE WOMEN'S PREMIER LEAGUE
Indian Jeweller

PLATINUM EVARA EMBRACES THE SPIRIT OF THE WOMEN'S PREMIER LEAGUE

The rise of women’s cricket in our country has been nothing short of inspirational and it offers the perfect platform for Platinum Evara, platinum jewellery aimed at the young woman segment.

time-read
2 minutos  |
February - March 2024
GARGI BY PNGS EXPANDS ITS REACH WITH SECOND FRANCHISE OUTLET IN NASHIK
Indian Jeweller

GARGI BY PNGS EXPANDS ITS REACH WITH SECOND FRANCHISE OUTLET IN NASHIK

Gargi by P N Gadgil & Sons (PNGS), the prominent publicly listed fashion jewellery brand, has launched its second franchise outlet in Nashik.

time-read
1 min  |
February - March 2024
KISNA DIAMOND AND GOLD JEWELLERY UNVEILS EXCLUSIVE SHOWROOM IN AGARTALA
Indian Jeweller

KISNA DIAMOND AND GOLD JEWELLERY UNVEILS EXCLUSIVE SHOWROOM IN AGARTALA

KISNA Diamond and Gold Jewellery, a leading name in the exquisite jewellery industry, celebrated the grand opening of its first-ever exclusive franchise showroom in Agartala, Tripura recently.

time-read
1 min  |
February - March 2024
KHIMJI JEWELLERS UNVEILS NEW WEDDING CAMPAIGN "NO COMPROMISE!"
Indian Jeweller

KHIMJI JEWELLERS UNVEILS NEW WEDDING CAMPAIGN "NO COMPROMISE!"

Khimji Jewellers, Odisha’s favourite jewellery brand renowned for its rich legacy of 88 years in crafting exquisite jewellery, has announced the launch of its latest bridal jewellery campaign, “No Compromise!”

time-read
1 min  |
February - March 2024
GOLD REFINING PRESENTS SIGNIFICANT OPPORTUNITY IN INDIA: IFSCA CHAIRMAN
Indian Jeweller

GOLD REFINING PRESENTS SIGNIFICANT OPPORTUNITY IN INDIA: IFSCA CHAIRMAN

K Rajaraman, Chairperson of the International Financial Services Centres Authority (IFSCA), has advocated for the establishment of gold refining facilities within India, citing its significant position as a major global purchaser of the precious metal.

time-read
1 min  |
February - March 2024
UNION BUDGET 2024: GEM AND JEWELLERY INDUSTRY CONCERNS NOT ADDRESSED
Indian Jeweller

UNION BUDGET 2024: GEM AND JEWELLERY INDUSTRY CONCERNS NOT ADDRESSED

In her final outing before the polls, Finance Minister Nirmala Sitharaman presented a budget which held no major surprises.

time-read
3 minutos  |
February - March 2024
BROADLY SPEAKING WHY I KEEP LAB-GROWN DIAMONDS AS A SEPARATE CATEGORY IN MY STORE
Indian Jeweller

BROADLY SPEAKING WHY I KEEP LAB-GROWN DIAMONDS AS A SEPARATE CATEGORY IN MY STORE

Lab-grown diamonds, a much sought-after product in the US, are increasingly finding greater acceptance in India as well. Retailers are benefitting from stocking both natural and grown-diamond jewellery, as it enables them to cater to different categories of customers under one roof, and address ethical concerns, finds out Suneeta Kaul in a conversation with AVR Siddhanth of AVR Swarna Mahal

time-read
3 minutos  |
February - March 2024
SENCO GOLD & DIAMONDS CRAFTS IMPACTFUL CAMPAIGNS
Indian Jeweller

SENCO GOLD & DIAMONDS CRAFTS IMPACTFUL CAMPAIGNS

Senco Gold & Diamond skillfully crafts impactful campaigns that touch the hearts of customers living in different regions of the country, finds out Priyanka Talreja Garegrat in a conversation with Joita Sen, the Design Head of the company

time-read
3 minutos  |
February - March 2024