Quality and affordability make Surat LGDs popular globally

Surat: Known globally as the Diamond City for its dominance in natural diamond manufacturing, Surat is now making strong strides in the lab-grown diamond (LGD) sector, emerging as a serious competitor on the world stage.
During a recent visit to the city, global buyers from eight countries praised the quality and affordability of Surat's LGDs, saying they are among the best available internationally.
While China remains the largest manufacturer of lab-grown diamonds, Surat's well-established infrastructure for natural diamond cutting and polishing gives India a competitive edge. The cutting and polishing work, done at a fraction of the cost compared to China, makes Indian LGDs more cost-effective for buyers.
In FY 2023-24, the total export of polished LGDs stood at $1,402.3 million, reflecting a 16.54% decline compared to the previous year's export of $1,680.22 million. Despite this dip in export value, industry insiders remain optimistic, pointing to rising interest and growing popularity of LGDs in the international market.
A recent survey valued the global lab-grown diamond market at $20 billion in 2020, with projections of it reaching $50 billion by 2030, growing at a CAGR of 9.4%.
International buyers visiting Surat expressed admiration for the city's integrated diamond ecosystem. Cloyette Harris, a jewellery designer from the US, said she discovered a broad and impressive range of LGDs. "I found the manufacturer online and was amazed by the collection. What's special here is that manufacturers grow their own stones and offer unique, specialised cuts," she said.
Kazakh jeweller Assyly Adilkhan shared that LGDs are gaining popularity among the younger generation in Kazakhstan. "For young buyers, affordability is key. I visited diamond markets in China as well, but the prices in Surat make diamonds far more accessible," she said. Visitors were particularly struck by Surat's end-to-end LGD manufacturing setup — from growing rough diamonds to crafting fine jewellery — all under one roof.
Najib Mekanna, a jeweller from the United Arab Emirates, highlighted this as a major advantage. "We travel across the world for business, but Surat stands out. In LGDs, you have growing, manufacturing, and jewellery making happening in one place — this gives the city a definite edge," he said.
Olga Gonzalez, a US-based gemologist, echoed the sentiment. "The range and quality of LGDs, along with competitively priced jewellery, give Surat's industry a strong position in the global market," she said.
With rising global interest, industry experts believe that Surat's LGD sector is poised for further expansion, strengthening India's position in the fast-growing market of lab-grown diamonds.