Representative Image Nearly four lakh workers engaged in cutting and polishing of lab-grown diamonds (LGD) in Surat are facing delays in getting their wages and uncertainties about their jobs, with a fall in the prices of these man-made gemstones affecting the revenue of the units employing them. As LGD prices are falling and export demand…
Representative image. The recent surge in gold prices has led to a shift in consumer behaviour towards lab-grown diamond (LGD) studded jewellery, which is more pocket-friendly, said LGD manufacturers and retailers. In addition to this, the value-seeking consumer is also attracted to LGD studded jewellery as it offers a proposition of more gold proportion in…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
Representative image Kolkata: Large jewellery chains such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas and Senco Gold are staying away from lab-grown diamonds (LGDs) citing low demand and an aversion to mixing them with natural stones at counters. Nonetheless, the buzz over such stones – much cheaper than natural diamonds and indistinguishable from…
Representative image The glittering diamonds sparkle the same but there are key differences: mined natural gems are more than a billion years old, while laboratory-made rocks are new and cost less than half the price. Man-made gems are reshaping the $89 billion global diamond jewellery market, especially in the west Indian city of Surat where…
India’s gems & jewellery industry has seen a growing trend in the recent past. Lab-grown diamonds (LGDs) have established a niche for themselves among consumers who focus on affordability, says Vipul Shah, Chairman, Gem & Jewellery Exports Promotion Council (GJEPC). In an interaction with ET Digital, Shah says he is upbeat about the prospects of…
Lab-grown diamonds are set to acquire a new sparkle this festive season, amid growing acceptance among customers, according to industry executives. With the introduction of buyback schemes by manufacturers and expansion of the store network, up to 60% year-on-year growth is expected during this period, they said. Even high-net-worth individuals (HNIs) have taken a shine…
Exports of lab-grown diamonds have slumped 28.57% year on year in the first four months of the current fiscal despite government backing, but industry insiders expect numbers to pick up this month onward after a price correction in July. Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed…
Image used for representational purpose only India‘s gems and jewellery exports are likely to improve in the second half of this financial year as the demand recovers in key export destinations, the Gem and Jewellery Export Promotion Council (GJEPC) said on Thursday. GJEPC is exploring new markets, including Vietnam, Cambodia, Thailand, Myanmar, Bangladesh and Sri…
