This projection aligns with growing demand from both domestic markets in India and international hubs like the United States.

During an interview with NDTV Profit, Bhansali highlighted the company’s rapid growth in the lab-grown diamond segment, which already contributed 77% of revenue in the September quarter of FY 2024–25. “This is a transformative change,” Bhansali remarked. “We anticipate that lab-grown diamonds will stabilize around the 80% mark as the U.S. middle-income segment continues its preference for value-driven purchases.”

The Lab-Grown Advantage

Lab-grown diamonds have seen a meteoric rise in popularity due to their affordability and sustainability. “They’re perfect for value-conscious consumers,” Bhansali said, adding that these diamonds meet Indian buyers’ aspirations for larger stones without straining budgets.

Bhansali also emphasized the potential of the Indian market, noting its tremendous growth prospects. “Education and awareness are key. As more organised players enter the space, it will strengthen consumer trust and foster category growth,” he explained.

Competition Welcomed

Goldiam International views competition as an opportunity rather than a threat. Commenting on Trent’s proposed entry into lab-grown diamond retail, Bhansali welcomed the move. “Competition from large, respected brands provides a stamp of approval for the category,” he noted.

Such developments, Bhansali argued, will lead to increased consumer awareness about lab-grown diamonds. “We need to educate customers about the unique benefits of these diamonds, and larger players will help amplify that message,” he added.

Market Impact

The confidence in the lab-grown diamond sector is reflected in the company’s stock performance. On November 7, Goldiam International shares closed 1.99% higher at Rs. 320.10 on the NSE, even as the benchmark Nifty 50 ended lower by 0.72%.

As the lab-grown diamond market gains momentum, Goldiam International is positioning itself at the forefront, blending innovation with value-driven offerings to capture a growing consumer base.