Blitz Bureau
NEW DELHI: Titan, which is known for jewellery brands like Tanishq, CaratLane has recently ventured into the lab-grown diamond (LGD) segment with the launch of its new brand beYon. The Tata group company opened its first exclusive beYon retail store in Mumbai on December 29, marking its entry into the fast-emerging category of affordable and ethically-sourced diamonds, according to a report by Upstox.com.
The lab-grown diamond market in India is picking up pace because of the increasing demand for cost-effective, environment-friendly, and sustainable alternatives in the country’s jewellery market. Titan Company’s entry into the market will be a huge turning point as it will be the first large-scale entry into the lab-grown diamond market.
How is a lab-grown diamond made?
There are two methods for producing lab-grown diamonds. The first method is high-pressure, high-temperature (HPHT). This process uses high-pressure presses in a factory to mimic the geological conditions needed for natural diamonds to form deep within the Earth.
It is the most common approach in countries such as the US, China, and Singapore. The second technique is CVD (chemical vapour deposition), which involves creating crystals using chemical gases like methane.
Unlike natural diamonds, which take 1-3 billion years to form deep in Earth’s mantle, lab-grown ones are ready in days to months with zero mining hassle. While both are chemically identical, pure carbon, and have the same fire, hardness, and brilliance, lab-created diamonds are 30-50 per cent less expensive and more ecologically friendly.
The global market is valued at around $15 billion, and India is expected to see a 15-20 per cent increase in consumption year-on-year, coming second only to the US Market. According to the IBEF.org report, the Indian lab-grown diamond market is valued at around ₹3,452 crore (around $400 million) in FY25 and projected to grow to ₹5,179 crore ($600 million) by FY28 at a CAGR of about 14 per cent.
The lab-grown diamond market in India is picking up pace because of the increasing demand for cost-effective, environment-friendly, and sustainable alternatives in the country’s jewellery market. Titan Company’s entry into the market will be a huge turning point as it will be the first large-scale entry into the lab-grown diamond market.
Once a niche category, lab-grown diamonds are increasingly being accepted by younger, urban consumers due to their significantly lower price points compared to natural diamonds and their ethical, environmentally conscious appeal.
Titan Company
Titan Company Limited, part of the Tata Group, leads India’s organised jewellery market with brands like Tanishq and Zoya. Its new brand beYon is a fashion-oriented line, separate from its premium natural diamond offerings. Titan plans to expand the store quickly, using its retail network to meet the growing demand for lab-grown diamonds in India.
International Gemmological Institute
International Gemmological Institute (IGI), which is an independent diamond certification services provider, saw 27 per cent growth in LGD certification volumes over the past year. This certification contributes nearly 60 per cent to the company’s business, while the management expects a CAGR rise of 15 to 20 per cent in LGD certification over the next five years amid wider consumer acceptance.
According to IGI management, the global certification market, currently valued at $600 million, is projected to reach $1.1 to $1.2 billion over the next five years. Much of this growth will be driven by lab-grown diamonds, with India playing a crucial role in this expansion.
Trent Ltd
In 2024, Trent entered the lab-grown diamond (LGD) market with the ‘Pome’ brand. This brand debuted in a few Westside stores in Gurgaon, Hyderabad, Bengaluru, and Mumbai. Compared to natural diamonds, Pome offers eco-friendly jewellery, including bracelets, rings, necklaces, and earrings.
Before Diwali, Westside launched products online and opened 20 dedicated lab-grown diamond stores within its network in Q2FY26. By marketing Pome as a fashion accessory rather than fine jewellery, the company’s focus is to attract younger consumers.
Senco Gold
Senco Gold Limited operates as a leading organised jewellery retailer in India. It specialises in gold, diamond, platinum, and silver jewellery. Senco Gold Limited has recently forayed into Lab-Grown Diamonds under its Luxury Brand-Sennes. As of Q2FY26, the company has eight exclusive brand outlets under this subsidiary. The company’s phase 2 expansion plans aim for a nationwide presence starting in October 2025.
Dev Labtech Venture
Dev Labtech Venture Limited is engaged in the manufacturing, wholesaling, and trading of polished natural and lab-created diamonds, utilising microwave plasma chemical vapour deposition (MPCVD) technology for jewellery and other industrial segments such as cutting materials for diamonds, thermal conductors, and semiconductors.
They announced an investment of ₹102 crore at the Vivekanand University of Sciences and Engineering at the Vibrant Gujarat Summit in January 2024 to enhance their production of eco-friendly lab-created diamonds.
Overall, Indian lab-grown diamond segment is moving from niche to mainstream, supported by growing demand and consumer acceptance. A significant change in the industry is indicated by the arrival of major and reliable players like Titan, as well as earlier ventures by Trent and Senco Gold & Diamonds. Listed stocks from the segment are likely to benefit from scale, branding and distribution, emerging as crucial differentiators.