Lab-grown diamonds are a (hot) pick for young Indians. But, will they become a girl’s best friend?
When looking for something truly luxurious, one only wants the real deal. Over the years, the best lab-grown diamonds may not have been people’s choice but the winds are calling for a new phenomenon. Whether you believe it or not, lab-grown diamonds are luxury jewellery’s future or, rather, the now. While legacy maisons such as Cartier and Chopard earnestly promote responsible mining…lab-grown diamonds are slowly making their way into Indian households and many significant special moments of their lives.
But before we divulge why young Indians are attracted to lab-grown diamonds—for obvious reasons such as their sustainability and ease of pocket—we’d like to clear a common misconception:
It may be hard to swallow, but lab diamonds are chemically identical to natural diamonds. The only teeny-tiny difference is that it is created in a lab rather than using Earth’s resources. Many, often tend to make the common mistake of misinterpreting lab diamonds for simulated diamonds, like cubic zirconia and moissanite crafted from different chemical compositions, which they are not. Lab diamonds are real diamonds made of pure carbon, which means that lab diamonds and the ones mined from under the Earth are chemically identical to each other.
Disha Shah, Founder of Diai Designs shares lab-grown diamonds created using advanced technology that replicates the natural diamond formation process. “In a lab, a small diamond seed is placed in a controlled environment that mimics the intense heat and pressure found deep within the Earth’s crust. Over time, carbon atoms bond around the seed, layer by layer, crystallizing into a diamond with the same chemical composition, structure, and brilliance as a mined diamond.”
While this makes them less rare, they’re undoubtedly valuable and often more affordable than natural diamonds. Lab diamonds are virtually indistinguishable from natural ones and offer the same sparkle and durability.
Young Indians today are making a smart choice and the demand for diamonds is ballooning more than ever. Vaibhav Karnavat, Founder, of House Of Quadri tell us that one of the major phenomenons for this is because there is a large audience which is shifting towards the lab for their daily diamond needs. “It is growing fast over 100% year on year. There are many buying lab diamonds for the first time and are happy to explore the category after their understanding of the product and their comfort with the brand. We are also seeing a lot of brands entering the LGD market, which points to the growing demand for them.”
Indians, like any consumer in the world, appreciate value. Value does not mean just price but the whole package of functional and emotional benefits that come with the price paid. And that is something that is fulfilled completely with grown diamonds. Lisa Mukhedkar, the CEO and Founder of Aukera cites how she has had customers coming back to her stating they can’t imagine ever going back to mined diamonds. “They often ask why should anyone buy mined diamonds. And request if they will take their mined diamonds in exchange for lab-grown diamonds!” adds, Lisa.
Ashwanth Ramesh, CMO and co-founder of Reia Diamonds mentions that today many don’t view jewellery as an investment but as a fashion statement because they prefer spending money on experiences or other forms of investments. “The middle-class family has a way to afford luxury without breaking the bank. LGDs look and shine just like natural diamonds but are much more affordable, making them a practical way to invest in something beautiful.”
Ashwanth, too, cites an example where a young couple came to Réia looking for an engagement ring. “They chose a lab-grown diamond because it allowed them to invest in a unique, custom design without compromising on quality. Another instance involved a group of friends purchasing lab-grown diamond jewellery for a friend’s wedding, appreciating that they could get beautiful, trendy pieces without overspending.”
Historically speaking, it has always been gold that has been seen to hold immense value when it comes to investment for Indians. However, while Indians, over the decades, have warmed up to gold, haven’t considered diamonds as an investment. Lisa says, “There is some rub-off on diamonds. People love to purchase diamonds because it always signals indulgence. And when it comes to lab diamonds, they fulfil everything mined diamonds do.
As per CNBC TV 18 “With a 25% market share in the production of lab-grown diamonds, India is the biggest contributor to this industry. The volume in India grew by 5% every year from April to July 2023.”
How does it affect the wedding jewellery market? Are Indians gravitating towards lab diamonds given that buying jewellery is such an important tradition and buying something that’s not ‘real’ will almost be considered as bad luck?
Surprisingly, Lab-grown diamonds (LGDs) have impacted both wedding jewellery and daily wear, but in different ways. Ashwanth adds, “Younger couples are already choosing lab diamonds for engagement rings. For daily wear, LGDs are more likely to gain traction quickly because they’re affordable, stylish, and ethical. Over time, LGDs could become popular in both, but the wedding segment may take a little longer.”
A scroll through the websites of various homegrown brands and you will come across innovative designs featuring precision and careful craftsmanship.
Resulting in choices aplenty, some of the bestselling designs or offerings include tennis bracelets, toi et moi rings, Classic solitaires, Engagement rings, Timeless studs, Tennis bracelets, and personalised designs. These are bought by working professional women between the ages of 25-40, living in metro and tier 1-2 cities across India. “They’re practical and modern, and prefer a minimalistic style that’s both elegant and functional. They want a piece that fits their lifestyle—one that’s personal, timeless, and a smart choice”, adds Disha.
Aagna Ajmera, Co-Founder, Heera- The Jewelry Trunk, a newly launched lab-grown diamonds label states most customers prefer customising their lab-grown diamonds. “The most common requests include mangalsutras, proposal rings, and hoops. Additionally, studs are often seen purchased as gifts,” she adds.
Aagna also has a tip for those eager to explore the world of lab diamonds and says when selecting lab-grown diamond jewellery, one must start by examining the finish of each piece, as it should match the elegance of a natural diamond. “Lab-grown diamonds are very sparkly and have an eye-hitting shine. Next, check for certification. Look for certifications from well-known brands such as IGI, SGL, EGL, or GIA that clearly state the diamonds are lab-grown. Additionally, check the cut and quality of the LGD as they shine just like natural diamonds, you can compare lab-grown options with others to find the best.”
Lead image: House of Quadri/ Instagram
With five years of experience in both print and digital mediums, Shambhavi is the Features Editor covering luxury, jewellery, fashion and beauty. When not writing, you'll find her grooving to music or feeding cats. View Profile
