Lab-grown diamonds get a New Delhi address as trend goes mainstream
Lab-grown diamonds are increasingly moving from the margins to the mainstream of India’s jewellery market. Industry estimates put the country’s lab-grown diamond jewellery segment at roughly $450 million this year, with projections of it nearly quadrupling over the next decade on the back of falling prices, wider IGI-certification standards, and a younger buyer base drawn to the category’s affordability and sustainability credentials.
India’s lab-grown diamond exports have also overtaken natural diamond exports by volume for the first time, industry data shows, underlining how quickly the shift is unfolding.
Reflecting this momentum, contemporary luxury label MINAKI opened its first standalone store in Connaught Place, New Delhi, on August 20, unveiling an IGI-certified lab-grown diamond collection of rings, earrings, bracelets and necklaces built around the idea of “the same love, with a new tradition.”
Speaking at the launch, founder and CEO Monika Soni said India’s natural diamond market has cooled meaningfully, with softer prices and rising comfort with lab-grown stones making diamonds a less straightforward investment bet than before.
MINAKI’s range runs from under a carat to statement pieces of up to 10 carats, split across its Fine and Demi Fine lines, with a second outlet already open at GMR Aerocity.
