Lab Grown Diamonds Sparkle as Festive Sales Set to Surge 25 Percent

Affordable Luxury for a New Generation

Diamonds have always symbolized aspiration in India, but the high cost of natural stones kept them out of reach for many. Lab grown diamonds are changing that story. Identical to mined diamonds in composition and appearance, they bring affordability to the forefront. A one carat natural diamond can cost around ₹4 lakh, while a lab grown stone of the same size is available between ₹35,000 and ₹50,000. This dramatic price difference has opened the doors to first time buyers and turned diamonds into everyday luxury rather than a once-in-a-lifetime purchase.

Festive Demand Driving Growth

The festive and wedding season is traditionally the strongest period for jewellery sales, and this year lab grown diamonds are set to shine brighter than ever. Hansa Research estimates a 20 to 25 percent rise in sales during the festive season, with gifting accounting for nearly one third of demand in metros. Rakshabandhan already indicated strong double-digit growth, paving the way for Diwali and wedding purchases to push sales even higher.

Millennials and Gen Z Leading the Shift

Young buyers are leading this transformation. Unlike older generations that treated diamonds as an investment, millennials and Gen Z view them as lifestyle choices and expressions of identity. They are buying jewellery for themselves, not just as gifts. Brands like GIVA, Jewelbox, True Diamond and Lucira confirm that this new generation prioritizes design, affordability, and sustainability over resale value. Even traditional buyers in urban centres are beginning to accept lab grown options, adding further momentum.

How Brands Are Innovating

Jewellery brands are rapidly innovating to capture this wave of demand. Jewelbox is building its focus on solitaires and everyday wear in the ₹50,000 to ₹1 lakh range. GIVA’s Heer collection in 14K and 18K gold already makes up a major share of its revenues. True Diamond is differentiating with unique Portuguese cuts, titanium settings and champagne gold finishes, while Lucira is seeing strong growth in engagement rings and festive gifting. Digital campaigns, influencer partnerships, and youth-focused storytelling are central to their strategies.

India’s Position in the Global Market

India is both a major producer and a fast-growing consumer market for lab grown diamonds. This dual advantage ensures affordability and stability in supply chains. The domestic market, valued at about 300 to 350 million dollars, is expected to grow at 15 percent annually and could reach 8.3 billion dollars by 2032. Globally, lab grown diamonds already account for over half of the US market, and India is quickly moving in the same direction.

A Mindset Revolution

The acceptance of lab grown diamonds reflects a major shift in mindset. While natural stones retain their rarity and heritage appeal, lab grown diamonds are winning as a stylish, responsible and accessible option. For younger consumers, design, sustainability and affordability matter far more than resale value. With brands also offering exchange and buyback policies, confidence in the category is growing rapidly.

The Road Ahead

Lab grown diamonds are no longer a niche category. With festive sales booming, innovative branding and strong acceptance among young buyers, they are set to reshape the jewellery market in India. By offering affordable luxury without compromise, they are redefining what diamonds mean for the modern Indian consumer. Stylish, sustainable and attainable, lab grown diamonds are here to stay as the new face of everyday brilliance.

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