Surging gold price in India is adding sheen to lab-grown diamonds. The demand from millennial consumers for lab-grown diamond studded jewellery rising across India.
With the significant price hike in gold as well as naturally mined diamonds, consumers have begun to look at the greener, pocket-friendly option of lab-grown diamonds this season.
Lab-grown diamonds have gained massive popularity in recent years with a lot of awareness among consumers. The unique and independent personality of lab-grown diamonds as a sustainable and environmentally friendly yet affordable gemstone is extremely well accepted by millennial consumers. This trend is increasingly reflected in the sales of lab-grown diamond studded jewellery across India. While millennials are willing to pay a 44% premium on sustainable products, young women prefer lab-grown diamonds for engagement rings. According to reports, like mined counterparts, lab-grown diamonds also offer investment opportunities.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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