Why buyers are lapping up lab-grown diamonds in India

Indian market for lab-grown diamonds is expected to more than triple to $8.31 billion by 2032

- Suneera Tandon

reeti, 56, already owned natural diamond solitaires and rings—but it wasn't until last year that she began buying lab-grown ones. "One can hardly tell the difference; plus it's a good way to continue expanding my collection," she said.

Preeti is part of a growing cohort of Indian shoppers, ranging from first-time buyers to seasoned collectors, who are increasingly turning to lab-grown diamonds (LGDs).

Once dismissed as niche or inferior, LGDs are gaining traction not just for their lower price point—typically 30-40% cheaper than mined stones of similar grade—but also because of changing consumer attitudes toward jewellery. Retailers say today's buyers are more value-conscious, more open to design variety, and more willing to view LGDs as aspirational and not merely affordable.