Page 31 - March / April 2023 : Diamond Digest Issue

D.D : Future of Lab-grown diamonds?
Mr. Shah : Lab-grown diamonds as explained are diamonds and only difference is its rough growing process, and hence Lab-grown diamonds are technically diamonds and now are pocket friendly, even millennial who are looking forward to buy diamonds can afford it and can gift it to their loved ones, Lab-grown diamonds jewellery will be the next big step in future what ever type of jewellery may it be daily wear or designer jewellery will be in reach of everyone.
D.D : Do Lab-grown diamonds have resale Value?
Mr. Shah : Lab-grow diamonds are globally traded and accepted in trade, so every Lab-grown diamond is resalable at current market price
D.D : Do Lab-grown diamonds have positive support and recognition from government?
Mr. Shah : The R&D grant to support production and sales and even the consideration of lab-grown diamonds within the Union Budget 2023 is a huge encouragement for the entire lab-grown industry. This reflects positively on the opportunities for imports and exports within this sector. With the import duties cut down on lab-grown diamonds rough imports and its machinery, we can forecast an increase in demand leading to significant growth in sales and the opportunity to take our Indian brands international.
D.D : What's your vision on lab grown diamonds jewellery in Indian market?
Mr. Shah : Over a period of time since lab grown diamonds came into Indian market, lab grown jewellery sales is slowly and steadily gearing up as and how retail customer get the right knowledge about lab grown diamonds and it's growing process, and lab grown diamonds jewellery is the next big thing in diamond industry.
31 • Diamond Digest • March - April. • 2023