Lab-grown diamond exports poised for revival in FY25

After a recent slump, India's lab-grown diamond (LGD) export sector is expected to witness a revival in the coming fiscal year (FY25), according to a report by CareEdge Advisory. The report forecasts a growth of 7-9 per cent, pushing exports to a value range of approximately US$15001530 million.

The optimism comes amidst a challenging period for the industry. LGD exports experienced a substantial decline of around 16.5 per cent year-on-year in FY24. While sales volume continued to grow, plummeting prices negatively impacted export figures. However, CareEdge Advisory believes a depreciating rupee will offer relief to the industry.