DiaMondaine Diamantaires Club mulls diamond safari tours in southern Africa

DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

15 july 2024

Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

The lab-grown diamond jewellery market in India to rise to $5 billion by 2025

26 june 2023

India's gems and jewellery sector plays a significant role in the Indian economy, contributing around 9% to India’s total merchandise exports. There have been several positive developments over the past decade, in the gem and jewellery sector globally, and LGD is one of them. This sector is expected to rise significantly in India in the coming years.

The government of India, in this year’s Union Budget, announced the elimination of a 5% customs duty on seeds used to manufacture rough lab-grown diamonds. It also approved a five-year research grant to the Indian Institutes of Technology, Madras, to encourage indigenous production of LGD machinery, seeds and recipes. An India Centre for lab-grown diamonds (InCent-LGD) is also proposed at IIT Madras with an estimated cost of $29.6 million over five years.

The lab-grown diamond jewellery market is expected to rise to $5 billion by 2025 and exceed $15 billion by 2035. Besides the jewellery industry, lab-grown diamonds are used in computer chips, satellites, and 5G networks as they can be used in extreme environments and have an edge over silicon-based chips. LGDs have a vast application in the field of defence, optics, jewellery, thermal and medical industries.

While lab-grown diamonds are produced through two technologies – high-pressure high temperature (HPHT) and chemical vapour deposition (CVD), India is one of the leading producers of diamonds using CVD technology.

While most of the market is deeply rooted in traditional jewellery culture, India is experiencing significant demand for new and alternative options. Also, there is rapid advancement in diamond-growing technology, resulting in the production of larger, high-quality lab-grown diamonds.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished