Archive · 22 Dec 2025
Lab-Grown Diamonds Gain Momentum in India
Lab-grown diamonds are becoming very popular in India, especially among younger people like Millennials and Gen Z. These diamonds are seen as a good, ethical choice for everyday wear, not just for special occasions like weddings.
Many new companies are making these diamonds and have received a lot of money from investors.
The market for lab-grown diamonds is growing fast, and big jewelry stores are also starting to sell them.
Companies are opening physical stores to help people trust and buy these diamonds more easily.
Some companies are focusing on specific products like engagement rings, while others are making diamonds for everyday use.
The competition is getting tougher, but these new companies are working hard to make their brands stand out.
Nine lab-grown diamond (LGD) startups in India raised a record $26.4 million in 2025, up from $4.7 million in 2024.
The LGD jewellery market in India is valued at $300–350 million and is projected to grow at a 15% CAGR over the next decade.
Millennials and Gen Z consumers are driving demand for LGDs as ethical, accessible, and everyday wear jewellery.
Startups like Lucira, Akoirah by Augmont, and Réia Diamonds are focusing on different niches and expanding their retail presence.
The competition is intensifying as traditional jewellery chains also introduce lab-grown diamond collections.
- Who
- Indian lab-grown diamond (LGD) startups and consumers, particularly Millennials and Gen Z
- What
- A surge in funding and market growth for lab-grown diamond jewellery in India
- When
- 2025, with projections for the next decade
- Where
- India
- Why
- Shifting consumer preferences towards ethical, accessible, and everyday wear jewellery
- Funding Raised in 2025
- $26.4 million
- Funding Raised in 2024
- $4.7 million
- Current Market Value
- $300–350 million
- Projected Growth Rate
- 15% CAGR over the next decade
- Target Consumers
- Millennials and Gen Z
- Lucira's Sales Mix Goal
- 80% offline, 20% online
- Akoirah's Expansion Plan
- 100 stores in 3 years
- Réia's Average Ticket Size
- ₹50,000