Tiffany & Co. and De Beers — you may know the names of these Western companies due to their undisputed hold on the global diamond industry for centuries.

However, what may startle you is India’s deep-rooted tryst with diamonds that dates back to the 5th century BC. You may as well find their mention in ancient Sanskrit texts and manuscripts written between 320 and 296 BC.

The nation was the primary source of diamonds for the world until the late 1720s when Brazil discovered the vanity rock on its turf. Despite the rise of new diamond-producing nations, India’s role in diamond export has always been extraordinary. Notably, we have given this world some of the rarest diamonds on Earth — the Pink Agra Diamond, The Kohinoor, and The Orlov, just to count a few.

Unfortunately, despite our diamond-studded history, India today is not a major producer of diamonds. It is, however, the world’s largest exporter of processed (cut and polished) diamonds.

Luckily, this equation has started to change, and diamantaires are now calling India a rare bright spot even amid ongoing global economic uncertainty.

The change of fate can be attributed to a paradigm shift in how the country’s diamantaires are sourcing diamonds. Notably, some of the hottest diamonds on the market aren’t being excavated or mined but grown in labs.

Once met with scepticism, lab-grown diamonds are now widely accepted, as doubts about their authenticity have lost any sheen they gathered in the past.

This is because, for the average consumer, there is little distinction between the two, as they are identical in appearance, composition, and structure. Diamonds, whether natural or lab-grown, share the same chemical composition and physical properties. However, their key differences lie in their formation process, rarity, and environmental impact.

Natural diamonds are formed deep within the Earth’s mantle over billions of years under extreme heat and pressure. Volcanic eruptions bring these diamonds closer to the surface, where they are mined.

On the other hand, lab-grown diamonds are created in controlled environments using advanced technological processes. The two primary methods for their production are Chemical Vapor Deposition (CVD) and High-Pressure High-Temperature (HPHT). Both processes replicate the natural diamond formation by using pure carbon, high pressure, and extreme heat to develop the crystalline structure.

While both types of diamonds appear identical, natural diamonds tend to retain higher resale value, whereas lab-grown diamonds are more affordable and considered a sustainable alternative.

Now, who wouldn’t want a bigger, more affordable diamond? That’s exactly what some of India’s emerging and legacy jewellery brands have on offer.

A case in point is Trent, an Indian retail company part of Tata Group, whose new subsidiary, Pome, is entering the growing lab-grown diamond market. The craze is........

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