Lab-grown diamonds set for a 20–25% festive sales surge in India

The emergence of lab-grown diamonds (LGDs) is beginning to challenge that exclusivity. Affordable, visually identical to mined stones, and increasingly accepted by younger buyers, LGDs are expanding the category to a much wider audience.

As the country approaches the festive season, a time when jewellery purchases traditionally surge, brands such as GIVA, Jewelbox, True Diamond, and Lucira say that the demand for lab-grown diamonds (LGDs) has never been stronger. Consumers are increasingly embracing LGDs, actively seeking them out for everyday wear as well as bridal jewellery. 

According to Hansa Research, the market for lab-grown diamonds (LGDs) in India has experienced a compound annual growth rate (CAGR) of 15–18% over the past three years. From being niche, LGDs now account for nearly 8–10% of urban diamond jewellery sales. The market is expected to grow 4–5x in the next five years, potentially reaching 15–20% of India’s diamond jewellery sales by 2030.