ETHICAL DIAMONDS
Natural vs lab-grown diamonds: The dazzling duel shaking up India’s jewellery market
Natural diamond players are on a quest to regain their lustre amid the double whammy of falling sales and the rising popularity of lab-grown diamonds. However, in a market like India, where consumers look for both value and price while making purchases, experts say that there is ample space for both to thrive
Understanding the enduring value of natural diamonds in a changing market
Natural diamonds maintain their allure in India, driven by cultural significance and rising incomes, contrasting with the fluctuating value of lab-grown alternatives. India's diamond industry thrives, processing a significant portion of the world's diamonds while prioritizing ethical sourcing and sustainability. Light performance and cut are crucial factors influencing a diamond's appearance and value.
Empowerment through action: Shaping a better world
Twelve visionary leaders are transforming various fields through innovative and impactful leadership. From Vicky Gawande’s transformative IT education to Dr. Jagannath Tandi’s dual expertise in education and real estate, these changemakers strive to inspire and create lasting change. Their contributions span numerous industries, showcasing the diverse ways leadership can foster progress and development.
Lab grown diamond startup Firefly raises $3 million from WestBridge Capital, others
Firefly, a lab-grown diamond startup, operates stores in Mumbai, Pune, Bengaluru, and Hyderabad, and aims to scale up to more than 20 locations over the next two years. With the fresh capital, it plans to expand its retail footprint and increase its digital presence.
Tanishq expands US presence with new stores in Seattle and Atlanta
Tanishq, an Indian jewelry brand, expands its US presence with new stores in Redmond, Washington and Cumming, Georgia. The stores feature extensive collections catering to South Asian traditions and contemporary American tastes. This expansion marks a significant milestone in the brand's North American journey, providing quality craftsmanship and ethical sourcing to diverse communities.
Natural glitter over lab-grown shine? Consider factors like carat, cut, and clarity before choosing between lab-grown or natural diamonds
Lab-grown diamonds offer the same sparkle as natural diamonds but at significantly lower costs due to their lower production expenses and wider availability. A natural 1-carat solitaire can cost Rs. 2-3 lakh, while a 1.5-carat lab-grown diamond can be purchased for as little as Rs. 45,000 per carat. However, before taking the final call, be sure to carefully analyse the 4 Cs—carat, cut, color, and clarity of the diamond.
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Lab-grown diamonds see price drop, natural ones shine with sustainability: Report
The Natural Diamond Council reports an 83% price drop in 1.5-carat lab-grown diamonds since 2015, while natural diamonds maintain steady annual growth. Indian manufacturers increasingly adopt renewable energy and sustainable practices. The industry adheres to stringent ethical standards under the Kimberley Process. Opening a mine averages 10 years, emphasizing environmental and social considerations.
Solitario Lab Grown Diamonds secures US $3.6 million in pre-IPO funding
Solitario Lab Grown Diamonds: The funding round saw participation from prominent investors such as Neeraj Gupta (Founder of Meru Cabs), Mauritius-based FPI Investi Global, Vicco Group, and Seema Manish Nuwal (Promoter of Solar Industries).
Priyanka Gill quits Kalaari Capital to launch lab-grown diamond brand
The new venture, named Coluxe, has secured early-stage funding from investors and plans to launch digitally in mid-2025, with retail expansion to follow, according to a statement released on Tuesday. Adopting an omnichannel strategy, Coluxe will feature contemporary jewellery collections, such as solitaire rings, pendants, earrings, tennis bracelets, and necklaces, as well as themed collections focused on zodiac signs and gifting.
Large export returns, unprocessed inventory hit diamond trade: GTRI
The Global Trade Research Initiative (GTRI) reports a significant drop in India's diamond sector, with a 24.5% decline in rough diamond imports and a 45.3% decrease in net exports of cut and polished diamonds. Factors include economic uncertainty, geopolitical tensions, and rising competition from lab-grown diamonds.
India's diamond sector faces major crisis amid plummeting imports, exports, and massive job losses
According to the think tank data, a 24.5% drop in rough diamond imports from USD 18.5 billion in 2021-22 to USD 14 billion in 2023-024 shows weaker global markets and fewer processing orders.
What's sustainable jewellery and why is it gaining popularity?
The jewellery industry has embraced sustainable fashion, influenced by growing environmental consciousness and a preference for uniqueness. Brands now adopt eco-friendly sourcing and production methods. Consumers are drawn to ethically produced jewelry using recycled metals, fair-trade gemstones, and lab-grown diamonds, mirroring a larger awareness of environmental and ethical concerns.
'Heeramandi' OTT Release: Sanjay Leela Bhansali's debut series to stream on Netflix from this date
Sanjay Leela Bhansali's eagerly awaited web series 'Heeramandi: The Diamond Bazaar' is scheduled to debut on Netflix on May 1. The series, marking Bhansali's digital debut, promises an epic narrative of love, power, and freedom set against the backdrop of India's 1940s freedom struggle. Featuring a star-studded cast and Bhansali's signature storytelling, 'Heeramandi' is poised to captivate audiences with its grandeur and narrative depth.
What are lab-grown diamonds, are they worth buying?
Young Indian buyers prefer lab-grown diamonds (LGD) in comparison to their mining counterparts due to the affordability factor. Lab-grown diamonds, also referred to as synthetic or cultured diamonds, are created using cutting-edge technology that mimics the natural diamond-growing process. LGDs have seen price drops of around 50 percent, while the prices of natural diamonds have declined 40 percent.
Diamond demand heads for a hard landing with ‘temporary disruption’ at play
Diamonds are forever, they say, but the love for bling is waning in different ways. Not only is demand from consuming nations like the US coming down, and preferences too are shifting towards lab grown diamonds. This will hit India which is the world’s largest cut and polished diamond (CPD) center. Its exports will decline 10-15% in FY24 to $19-20 billion, predicts CareEdge. In July, CPD exports, in value terms, declined by 32% on a year-on-year basis, the report adds, highlighting the pain points in the sector.
Senco Gold Limited becomes member of Responsible Jewellery Council
Its Code of Practices (COP) is the global standard for the responsible jewellery and watch industry, focusing on business ethics and responsible supply chains covering all the primary minerals and metals used in the manufacture of jewellery -gold, silver, platinum group metals, diamonds and coloured gemstones.
How Palanpuri Jains captured global diamond trade
The Jain community is known for its excellence in business and trade not only in India but in many other countries too, most popularly in Belgium where they trade in diamonds. In little more than half a century, a small Jain community, the Palanpuri Jains, so called because they come from Palanpur town in Banaskantha district of Gujarat, has got a hold on diamond trade in Antwerp.
Rapaport suspends all activity with Russian and Belarusian companies
RapNet — the world’s largest diamond trading network, with daily listings of 1.7 million polished diamonds valued at $8.7 billion — has implemented new software that enables sellers to list the source of rough diamonds and allows buyers to search by rough source.
Indian diamond retailers say sales are steadily increasing, led by millennials
De Beers India said its sales in January this year were 14% higher than that in the year-ago month. Malabar Gold & Diamonds and NAC Jewellers are among the other jewelers who witnessed good demand for diamond jewellery last month and they expect the uptrend to continue in February as well.
Diamonds to get dearer, thanks to millennials' solitaire-driven demand
Once the travel restrictions were eased and online transactions picked up simultaneously, exports of diamond from India picked up. Also, domestic demand too started picking up since Diwali and Dhanteras.
Mid-stream manufacturers of natural diamonds likely to enter lab-grown diamonds business
The BDB’s green signal on trading indicates that there will be more clarity and transparency in lab-grown diamond transactions, which were not there after the bourse stopped trading in those some five years ago.
Mushrooms under contraband cloud
Buyers should exert morel pressure to ensure ethical sourcing of porcini.
Trade deal hopes may aid diamond exports
Cut and polished diamond exports in December 2019 declined by 3.92 per cent to Rs. 8926.58 crore.
Lab-made diamonds for less: Why De Beers' plan worries rivals
De Beers will target younger consumers with its lab diamonds, sold for about $800 a carat.
Dynamic diamonds to bendy bling
Ever since it became known that diamonds can be made in a microwave oven — not unlike popcorn — they have lost at least some of their dazzle.
GJEPC plans steps to get tougher on wilful defaulters
The gems and jewellery sector accounts for 7 per cent of the country’s GDP.
Pakistan court accepts plea to bring back Koh-i-Noor from UK
A Pakistani court has accepted a petition seeking direction to the government to bring back Koh-i-Noor from British Queen Elizabeth-II.
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