Diamonds have been a symbol of luxury, love and timeless beauty. But as the world shifts towards ethical and sustainable choices, the diamond industry is experiencing a transformation by the rise of lab-grown diamonds.
In a recent episode of The Founder’s Dream podcast, Nivara’s founder, Vikas Kabra shared profound insights into the rapidly evolving diamond industry, discussing everything from the environmental consequences of mining to the growing dominance of lab-grown diamonds as the future of fine jewelry.
The rise of lab-grown diamonds in India
While lab-created diamonds have already captured 55%–60% of the market in Western nations, India is still just beginning to welcome this change. Yet the transition is occurring quicker than anticipated with increasing awareness and ecological considerations in people. As the founder of Nivara had pointed out, lab-grown diamonds are chemically, physically and optically indistinguishable from mined diamonds and have the same brilliance without the ethical and environmental disadvantages.
The hidden risks of diamond mining
The podcast brought into sharp focus the harsh realities of natural diamond mining, be it the staggering use of water (as much as 200,000 liters just to produce 0.2 grams of a diamond) or the dangerous conditions in which miners need to work. Mining diamonds from deep under the Earth's surface not only exhausts natural resources but also generates enormous carbon emissions which is approximately 1.5 tons of Carbon dioxide per carat.
Moreover, the changing demand for mined diamonds has created economic uncertainty, with more than 7000 job losses in the industry. As consumers become increasingly aware of these issues, lab-grown diamonds offer a responsible and future-ready solution.
The Making of Lab-Grown Diamonds
One of the most interesting parts of the discussion was the technology used behind lab-grown diamond creation. By mimicking the natural process with advanced technology and high-pressure conditions, scientists can produce diamonds that are indistinguishable from their mined counterparts. This not only ensures ethical sourcing but also opens the door to exciting innovations- such as diamonds in unique colors and larger carat weights which would be scarce in future.
Lab grown diamonds: More jobs, More colors
The growing popularity of lab-grown diamonds is also opening up more employment opportunities and expanding design possibilities with a greater number of colors. The process of lab-grown diamond manufacturing differs from that of traditional mining, which is time consuming and unethical. Production of lab diamonds depends on advanced technologies like HPHT(High Pressure High Temperature) and CVD(Chemical Vapor Deposition), and these technologies have opened up new opportunities in research, manufacturing, engineering and retail sectors which ultimately leads to job growth across technologically advanced sectors.
Lab-grown diamonds vs. Gold: A better investment?
The discussion also came around a frequently debated topic: are diamonds a better investment than gold? As gold continues to maintain its value as a stable asset, natural diamonds often tend to depreciate after its purchase. On the other hand, lab-grown diamonds offer affordability and moral value without the risk of resale prices which makes them a modern and responsible choice.
Hyderabad’s booming retail market & the future of jewelry
Hyderabad is rapidly becoming a hub for luxury shopping, so it is the ideal place for premium jewelry brands. However, when quick commerce is working well for silver jewelry, gold is unable to keep up with fast-paced consumer demands. Lab-grown diamonds are turning out to be the perfect balance and are offering brilliance without compromising on quality.
How to identify a certified lab-grown diamond?
For those new to lab-grown diamonds, the founder emphasized the importance of certification from trusted authorities like GIA and IGI. Since lab-grown and mined diamonds are visually identical, certification is the only way to ensure its authenticity and value.
The vision behind NIVARA
From corporate leadership to establishing Nivara, the path has been driven by passion, innovation and a commitment to sustainability. The goal? To introduce a new era of ethical luxury to India. And, by combining solar-powered diamond crafting and reforestation efforts, Nivara is setting a benchmark for a greener and brighter jewelry industry.
A sparkling future ahead
With growing demand for larger lab-grown diamonds, consumer preferences are shifting towards luxury that goes hand in hand with sustainability. Gone are the days of being just an alternative, lab-grown diamonds are redefining the jewelry industry. So, whether it’s an exquisite ring or a statement necklace, lab-grown diamonds are the future.
Want to dive deeper into this fascinating conversation?
Watch the full podcast episode here: Watch Now
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