According to recent data from the Gem and Jewellery Export Promotion Council (GJEPC), India’s polished lab-grown diamond export volumes have surpassed natural diamonds for the first time, marking a historic shift in the country's gemstone trade. During the fiscal year ending March 2026, lab-grown exports surged nearly 31% to 18.84 million carats—a massive leap from just 10,000 carats a decade ago—while natural diamond exports slipped 4% to 16.00 million carats, a trend that continued into April 2026. However, because of a massive pricing disparity where natural diamonds average $760 per carat compared to just $60 for lab-grown gems, natural diamonds remain the industry's primary financial driver, generating $12.16 billion in annual revenue compared to the lab-grown sector's $95.52 million.
