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India Emerges as Global Leader in Silver Jewellery Growth in 2024

Driven by rising industrial demand, policy support, and a preference for high-purity designs, India takes center stage in the global silver market, according to the World Silver Survey 2025.

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India has solidified its position as a global powerhouse in silver jewellery fabrication in 2024, playing a pivotal role in the metal’s record-breaking industrial and consumer demand, as per the latest World Silver Survey 2025 by the Silver Institute

Global industrial demand for silver reached an all-time high of 680.5 million ounces (Moz), fueled by the expanding green economy and rapid growth in AI-related technologies. India stood out with a 4% rise in industrial silver demand, second only to China, underscoring its growing importance in the global silver landscape.

Jewellery fabrication—India’s traditional stronghold—also saw robust growth. Global silver jewellery demand increased by 3% to 208.7 Moz, with India contributing the majority of that rise. This surge was attributed to a combination of factors, including a cut in silver import duty, a resilient rural economy, and a rising consumer preference for high-purity silver pieces.

In a notable contrast to global trends, India also posted a 21% jump in demand for silver coins and bars, even as worldwide demand declined. This was largely driven by bullish investor sentiment and favorable import policies that encouraged safe-haven buying.

However, the silverware segment saw a 2% decline, falling to a three-year low of 54.2 Moz, primarily due to softened demand in India’s gifting segment, where elevated silver prices dampened consumer enthusiasm.

On the supply side, global silver mine production edged up slightly by less than 1% to 819.7 Moz, yet the market remained in a structural deficit for the fourth consecutive year, with a shortfall of 148.9 Moz.

The report also warns that geopolitical tensions and potential U.S. tariffs could impact silver demand in 2025. However, strong safe-haven investment interest may help cushion any potential declines. Despite global uncertainties, silver prices rose 21% in 2024 and continue to maintain strength heading into the new year.

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Education

The Science Behind Sparkle: How Lab-Grown Diamonds Are Created

A New Era of Diamond Creation

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In recent years, lab-grown diamonds have captured the attention of jewellers, consumers, and investors alike. Beyond their beauty, what makes these gems truly fascinating is the science behind their creation. Unlike imitation stones, lab-grown diamonds share the same physical, chemical, and optical properties as natural diamonds — the only difference lies in their origin.

At the heart of this innovation are two cutting-edge processes: High Pressure High Temperature (HPHT) and Chemical Vapor Deposition (CVD). These methods recreate the intense conditions under which natural diamonds form deep within the Earth, allowing scientists to produce genuine diamonds in a controlled laboratory environment.

HPHT: Diamonds Born Under Extreme Conditions

The High Pressure High Temperature (HPHT) method mimics the natural diamond-forming process that occurs about 150 kilometers below the Earth’s surface.

  1. Starting Point – The Seed:
    A small diamond seed, usually a thin slice of an existing diamond, is placed inside a carbon-rich chamber.
  2. Simulating Nature – Pressure and Heat:
    The seed is exposed to extreme conditions — pressures of about 5–6 GPa (equivalent to the pressure at the Earth’s mantle) and temperatures of 1,400–1,600°C.
  3. Crystal Growth:
    Under these conditions, the carbon source melts and crystallizes around the diamond seed, forming a larger crystal over several weeks.

The result is a high-quality diamond crystal that is virtually indistinguishable from its natural counterpart. HPHT diamonds often exhibit exceptional clarity and can be produced in a range of sizes and colors, including colorless, yellow, and blue varieties.

CVD: Diamonds Grown in a Plasma Cloud

The Chemical Vapor Deposition (CVD) process is a more recent innovation that uses advanced plasma technology to grow diamonds atom by atom.

  1. Preparing the Chamber:
    A thin diamond seed is placed inside a vacuum chamber filled with carbon-rich gases, typically methane and hydrogen.
  2. Creating Plasma:
    The gases are energized using microwaves or lasers, forming a plasma cloud that breaks down the molecular bonds of the gases.
  3. Diamond Formation:
    Carbon atoms released from the plasma settle onto the seed layer, crystallizing into pure diamond over the course of several weeks.

The CVD method allows for greater control over purity, color, and size, making it ideal for high-end jewellery applications. It also produces diamonds that are free from many of the inclusions typically found in natural stones.

Technology Meets Sustainability

Both HPHT and CVD processes are transforming the jewellery industry not only through technology but also through sustainability. Lab-grown diamonds require no mining, dramatically reducing environmental impact. Many manufacturers are also transitioning to renewable energy sources to power their production facilities, making these diamonds even more eco-conscious.

Furthermore, traceability is a defining advantage. Every lab-grown diamond can be tracked from its creation, offering complete transparency — a growing priority among modern consumers seeking ethical luxury.

Crafting the Future of Jewellery

As consumer awareness grows, lab-grown diamonds are redefining what it means to own something precious. With their scientific precision, sustainable creation, and stunning beauty, they represent the perfect harmony between innovation and artistry.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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