- Shruti Batra*
- National Institute of Fashion Technology, New Delhi
India is producing more lab-grown diamonds (LGDs), which have completely changed the perceptions surrounding natural diamonds. More and more young people opt for lab-grown because they are longer-lasting and cheaper. With significant advancements in technology, it is now possible to set up approximately 8,000 to 10,000 reactors dedicated to the production of lab-grown diamonds. But natural diamonds are destined to become more popular as luxury items since they are few in number, perceived as invaluable, carry history, and can be an investment. This research will investigate the influence of varying prices on people’s shopping preferences. Potential investors will find the results extremely helpful in understanding how to profit from the diamond market over time and reap its growth and benefits. Anyone interested in understanding the latest trends in the diamond industry and potential future prospects will find this study to be highly beneficial. It will also reveal whether people in the diamond world will accept the lab-grown diamonds or only treat them as fashion jewelry. The moral and ethical issues associated with most diamonds having been mined will influence how people decide to buy them. Will lab-grown diamonds hurt the huge diamond business, or will people just buy them as crystals?
