Future Of Lab Grown Diamonds

For a long time, lab grown diamonds have dominated the diamond business. Everyone who knows the advantages and environmental friendliness of lab diamonds prefers to buy lab diamonds instead of mined diamonds.

The mid-aged generation, in particular, is fascinated by lab created diamonds. Because they are all aware of the severe environmental impacts of mined diamonds. Almost 65 percent of people aged 21 to 40 prefer to buy lab made diamonds. 

In the financial year 2021-'22, lab-grown diamond exports from INDIA increased by 108.27 percent over the financial year 2020-'21. Every year, the demand for lab-grown diamonds has increased more than the previous year.

Furthermore, GJEPC's chairman added, "Lab-grown Diamond has encouraged 40,000 crores of business in the next 5-7 years." Furthermore, the lab-grown diamond business has the potential to employ 10 lakh people every 3-4 years.

INDIA's polished lab-grown diamond exports have surpassed the $1.3 billion mark, exceeding the $636.25 million worth of consignments last year. This is a significant accomplishment, and according to the GJEPC, Lab diamonds have a huge potential for employment growth.

So we may conclude that lab diamonds have the potential to control at least 80% of the diamond market. And, in the next four to five years, India might become a hub for lab grown diamonds. It is all because of the benefits of lab diamonds, they are future because they are sustainable and do not affect the environment.