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December 9, 2024Demand for lab-grown diamond jewellery to reach over Rs 6 lakh crores during this year’s wedding boom
Sustainability and eco-consciousness seem particularly evident in jewellery selections, where 45 per cent of brides now prefer lab-grown diamonds, especially for engagement rings. Wedding vendors are responding to this trend by offering organically and locally sourced materials.
An estimated 4.8 million weddings are expected to generate around Rs 6 lakh crores in business, positioning India second globally in the wedding market, trailing only the United States.
The wedding season is anticipated to have substantial economic ripple effects. The Confederation of All India Traders estimated approximately 48 lakh weddings in November and December, a notable increase from 35 lakh weddings last year.
These trends reflect a dynamic and evolving matrimonial landscape in India, characterised by technological innovation, sustainability, and significant economic potential.
