DiamondBuzz
VAIRAM 2025 to explore how innovation and technology are driving the LGD growth in India
GJEPC and InCent LGD- IIT Madras present VAJRA INDUSTRY, RESEARCH AND ACADEMIC MEET [VAIRAM 2025] Workshop
The initiative envisages the growth of the Lab-Grown Diamonds (LGD) industry through technology and innovation. VAIRAM will be held on 10th Feb’25 at TTJ Auditorium, ICSR, IIT Madras.
The rise of LGD is revolutionizing the diamond industry, bringing new possibilities to explore and widening the spectrum of opportunities and innovation. VAIRAM – 2025 is dedicated to exploring the current and future states of India’s LGD industry. The event is designed to hear from the LGD industry professionals and to identify the challenges faced by the Indian industries. Through a series of expert panel and open discussions, we will examine the advancements, challenges, and potential of the lab-grown diamond sector in India. VAIRAM 2025 will provide a vibrant platform for industry networking and collaboration.
DiamondBuzz
India LGD Sector Is Pushing Back Against Aggressive Discounting
Trade Body, Leadership Urged Traders and Brokers To Enforce Price Floors and Eliminate Undercutting.
India’s lab-grown diamond (LGD) sector is pushing back against aggressive discounting as shrinking margins squeeze manufacturers and erode industry profitability. At a September 7 meeting of the Surat Lab Grown Diamond Association, leadership urged traders and brokers to enforce price floors and eliminate undercutting.
Raw Price Shift: Polished LGD prices recently rebounded by 20% to 25%.
Discount Compression: In response to rising costs, traders scaled back buyer discounts from ~7% to a tighter 3%–4% range.
Margin Squeeze: Association President Babu Vaghani warned that uncontrolled discounting directly erodes manufacturer earnings, forcing wage cuts and destabilizing supply chain economics.
Industry Outlook
The sector faces a structural dilemma: lower consumer prices drive adoption, but severe price erosion starves manufacturers, polishers, and labor of viable margins.
Continued downward pressure is pushing skilled labor out of the market and forcing polishing units to explore alternative industries. Stabilization hinges on widespread compliance with pricing discipline across the Surat hub.
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