India could lead lab-grown diamond industry with 50 times growth
India could become a global leader in lab-grown diamonds. Experts say the industry here could grow 50 times, with India making these diamonds entirely at home, with the full lab-grown diamond process now happening within the country.
Union Home Minister Amit Shah even pointed out that India has the opportunity to control the full value chain for lab-grown stones, from machinery to finished jewelry, as demand for lab-grown gems rises.
IGI uses AI amid youth demand
Lab-grown diamonds are especially popular with Gen Z and millennials, who now make up more than half of IGI's customers. They love these stones for their size and clarity compared to natural diamonds.
To keep up, IGI is using AI and machine learning in its grading process.
As more young people choose lab-grown gems, India's role in shaping this sparkling market looks set to grow even more.