Lab-grown diamond jewellery: Are Indian Retailers Ready to Stock Lab-Grown Diamond Jewellery?

BDB, Mumbai has plans to reverse its earlier ruling on trading of lab grown diamonds and is considering allowing trading of lab grown diamonds alongside naturally sourced diamonds. This move begets a primary question; is the Indian consumer ready to pay for lab grown diamond jewellery? Retailers and producers of lab grown diamonds share their thoughts with R Sugandha

- R Sugandha

Is the end consumer ready for lab-grown diamond jewellery? This question is gaining momentum with every passing day. Lab grown diamonds have been around for some time now, but only recently have they become widely known. Now, jewellers are able to offer the highest quality lab grown diamond jewellery at lower prices than competitors from other countries.

So, let’s get down to the brass tacks: What exactly are diamonds? Lab grown diamonds are identical to their natural counterparts in every way, except they are grown in a lab from a diamond seed instead of pulled from the earth. “Diamonds are made up almost entirely of pure carbon. That’s why both lab diamonds and mined diamonds have the exact same physical properties. They replicate the exact natural process that forms earth grown diamonds, but cost up to 40% less,” explains Parag Agarwal of Fiona Diamonds, Mumbai.

The intention is to keep the two pipelines in BDB —natural and lab-grown—separate. Allowing lab-grown diamond trading will help sustain the Indian diamond manufacturing industry. The industry has always believed in being inclusive, and there is a place for every product to exist as long as the disclosures are made. I see no reason why natural diamonds and lab-grown diamonds cannot co-exist.

Colin Shah, Chairman, GJEPC.

What impact will BDB’s decision have?