【Delhi, India】”Real or Fake?” India’s Lab-Grown Diamond Market Heads Towards $1.5 Billion, TheIceLane Bets More on ‘Awareness’ Than Sales

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Editor’s Note

As India’s diamond market undergoes a historic shift toward lab-grown stones, consumer trust remains a key hurdle. This article explores how one company is prioritizing education over sales to build confidence in this rapidly growing sector.

Market Sees Major Boom

The Indian diamond industry is currently witnessing a historic shift towards ‘Lab-Grown Diamonds’ (LGDs), but a significant trust deficit still exists among consumers. In this emerging sector, TheIceLane has embraced this challenge by prioritizing ‘consumer education’ over aggressive sales.

According to a recent report by Future Market Insights, India’s lab-grown diamond jewelry market is estimated to be USD 395.2 million in 2025. The report also states that by 2035, this market will reach USD 1,571.4 million, growing at a compound annual growth rate (CAGR) of 14.8%. However, to be part of this growth, brands must first win customer trust.

North vs South: Difference in Adoption Pace

Hema Khatwani, Founder and CEO of TheIceLane, explains that a clear regional difference is visible in customer behavior.

“Demand is significantly higher in South India—especially Bangalore and Hyderabad—because the consumer there is tech-savvy and views jewelry as an asset,” says Hema.

In contrast, North India is still a bit hesitant, but rapid change is also coming. Seeing the growing interest in Delhi, the brand has specifically launched an exclusive Lab Grown Diamond Jewellery in Delhi collection, designed keeping traditional aesthetics and modern ethical luxury in mind.

Breaking the ‘Fake’ Misconception

Hema Khatwani explains:

“We constantly receive messages and calls from North India, where the first question is always – ‘Madam, is this diamond real or fake?’ People have a deep-seated misconception that lab-grown means ‘artificial’ or ‘plastic’. Whereas the reality is that lab-grown diamonds are chemically and physically exactly the same as mined diamonds.”

This skepticism is particularly visible in the solitaire category. But once they receive the correct information, customers are choosing Lab Grown Diamond Rings for engagements and anniversaries, because they understand they can buy a larger and better quality diamond for a fraction of the price of a mined diamond.

Emphasis on ‘Education’ Over Sales

While many competitors spend heavily on advertising to meet their monthly revenue targets, TheIceLane has adopted a Content-First Approach. The brand shows in YouTube videos how a Diamond Tester gives correct results on their diamonds as well.

Hema says:

“We believe that to play the long game, it’s not just about trying to sell, but first educating. Many brands focus only on sales targets. At TheIceLane, our goal is clarity and trust. We explain IGI certification and the science behind the stone. When a customer understands after watching our videos, the sale happens on its own. We are not just creating customers, we are building trust.”
Future Prospects

The market is expected to triple in the next decade. TheIceLane aims to be the bridge that leads Indian families—from Delhi to South India—from mined diamonds towards sustainable, conflict-free, and modern luxury.

About TheIceLane

TheIceLane is a ‘Conscious Luxury’ brand specializing in BIS hallmark gold and IGI-certified lab-grown diamond jewelry. Established with the vision of making luxury accessible to all, the brand combines modern design with deep consumer education.

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⏰ Published on: December 04, 2025