Several years ago, lab-grown diamonds (LGD) emerged as a novel entrant, posing a potential threat to the natural diamond industry. However, Finance Minister Nirmala Sitharaman’s perspective on the industry in the 2023 Budget dispelled all uncertainties. Today, even industry giants like De Beers Forevermark have introduced their own lab-grown diamond collections.
PRICE ADVANTAGE
While connoisseurs of natural diamonds may hold different views, the availability of a one-carat lab-grown diamond with identical characteristics at a fraction of the price of natural diamonds is a dream come true for many. For Lisa Mundherkar, Founder, Aukera, this revelation came about when she played a pivotal role in establishing the platinum jewelry industry in India with Platinum Guild UK.
“When I encountered an identical diamond at an unbelievably affordable price six months ago, I felt compelled to delve deeper into this category. Moreover, with the advent of lab-grown diamonds, there is no longer a need to rely on costume jewelry,” she explained. Aukera proudly champions the “Made in India” narrative by producing, cutting, and polishing diamonds in India without incurring import costs.
This story is from the September - October 2023 edition of Retailer.
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This story is from the September - October 2023 edition of Retailer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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