Editor’s Note
The traditional diamond market is facing a new, scientifically cultivated competitor. As major players like India’s Titan Company enter the arena, lab-grown diamonds are moving from a niche curiosity to a mainstream option, reshaping consumer choices and industry dynamics. This article explores the implications of this rapid shift.
A new story is being written in India’s jewelry market. It’s the story of diamonds that are not formed over billions of years beneath the earth, but are prepared in labs within just a few months. These are called lab-grown diamonds. Until now, this segment was limited to a niche customer base, but the situation is changing rapidly. The reason is the entry of Titan Company Limited, one of the country’s most trusted jewelry companies, into this segment.
Titan has launched lab-grown diamond jewelry with its new brand ‘beYon’. Its first exclusive store will open in Mumbai on December 29. Due to three reasons—lower price, environmentally friendly option, and changing preferences of the youth—lab-grown diamonds are now moving towards becoming mainstream. After Titan’s entry, investors and the market have their eyes fixed on this entire sector.
Lab-grown diamonds are created in two ways. The first method is High Pressure High Temperature (HPHT), where conditions similar to the earth are created in a factory. The second method is Chemical Vapor Deposition (CVD), where diamond crystals are prepared using gas. Natural diamonds are formed inside the earth over 1 to 3 billion years, while lab-grown diamonds are ready in a few days or months. Chemically, they are also pure carbon. There is no difference in brilliance, strength, or beauty. The difference lies only in price and method. Lab-grown diamonds are 30 to 50 percent cheaper and do not involve mining.
The global lab-grown diamond market is worth nearly $15 billion. In India, its consumption is expected to grow by 15 to 20 percent annually. According to an IBEF report, this market in India is worth about ₹3,452 crore in FY25. It is estimated to reach ₹5,179 crore by FY28. Due to lower prices and ethical appeal, young and urban customers are rapidly adopting it.
Titan Company Limited is the country’s largest organized jewelry company. It owns brands like Tanishq and Zoya. Now, Titan has stepped into lab-grown diamonds with the ‘beYon’ brand. This brand will focus on fashion jewelry, aiming to create a distinct identity separate from premium natural diamonds. The company wants to expand rapidly through its large retail network.
Trent Limited, also part of the Tata Group, entered this segment in 2024 with the ‘Pome’ brand. This brand was introduced in Westside stores. The company is selling it not as fine jewelry, but as a fashion accessory. Its aim is to attract young customers. Senco Gold Limited has launched lab-grown diamonds under its luxury brand ‘Sennes’. Currently, it has eight exclusive stores. The company is planning nationwide expansion from 2025. Although the stock has seen a decline this year, the long-term story is still considered strong.
Dev Labtech Venture Limited manufactures both lab-grown and natural diamonds. The company has announced an investment of ₹102 crore in Gujarat. Its focus is on eco-friendly diamonds and industrial use. In India, lab-grown diamonds are now moving from niche to mainstream. The entry of a major name like Titan has boosted confidence in this segment. Brand, scale, and distribution will make the biggest difference in the coming times. This is why the market’s attention remains on stocks related to this sector.