Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
Lab-grown diamond manufacturers say that the export figures are down because of the price correction even though the export volume has increased. Export of polished LGDs for the period April -December FY24 stood at US$ 1024.6 million showing a decline of 22.97% over the comparative figure of US$ 1330.18 million in FY23.
Lab-grown Diamond Exports: Lab-grown diamond manufacturers say that the export figures are down because of the price correction even though the export volume has increased. Export of polished LGDs for the period April -December FY24 stood at US$ 1024.6 million showing a decline of 22.97% over the comparative figure of US$ 1330.18 million in FY23.