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India’s natural diamond market is set to double to $20 billion by 2030: De Beers Group CEO Al Cook

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De Beers Group CEO Al Cook, during his first visit to India since taking the helm in February 2023, announced that India’s natural diamond market—currently valued at just under $10 billion—is set to double to $20 billion by 2030. Speaking at a press conference at Taj Lands End, Mumbai, on May 22, Cook highlighted India’s historic and growing significance in the global diamond industry, noting its status as the world’s second-largest market for natural diamonds and the processing hub for 90% of global supply, supporting over a million jobs.

Cook attributed the projected growth to India’s rapidly expanding middle class, rising disposable incomes, and a deep cultural affinity for natural diamonds, with demand increasing at 12% year-on-year. He described India’s economy as “the envy of the world” and outlined De Beers’ multi-pronged strategy to capture this momentum. Key initiatives include the launch of the Forevermark retail brand in Mumbai and Delhi in late 2025, with a plan to expand to over 100 stores across major cities within five years, using both company-owned and franchise models alongside robust e-commerce offerings.

Talking about the world’s four key regions for diamond consumption, he said there has been a substantial decline in China. In the US, the market has been stable over the last year with some growth in recent months, and De Beers will focus many of its marketing campaigns there to boost demand. The Middle East, meanwhile, continues to show strong and sustained growth, he added.

Talking about lab-grown diamonds (LGD), he said its wholesale prices in the jewellery sector have fallen 90 per cent. “Our drive to educate consumers about the difference between natural diamonds and LGDs has accelerated. The myth that you can’t tell the difference between a natural diamond and an LGD is beginning to shatter, and Diamond Proof’s influence is only going to grow,” he added.

Al Cook  visited the GJEPC office in Mumbai, reinforcing the group’s commitment to deeper collaboration with the Indian diamond industry. The visit follows the successful joint launch of the Indian Natural Diamond Retailer Alliance (INDRA) earlier this year—a strategic initiative to boost India’s natural diamond retail ecosystem.

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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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