At the IIJS exhibition in Mumbai on January 5, Vipul Shah, chairman of India's GJEPC, told the media that lab grown diamonds and natural diamonds will coexist in the market.
"Natural diamonds bring some emotion, and lab-grown diamonds exist because of their affordability, fun and fashion... So, these are two completely different market segments, and the future is not about one replacing the other."
He also said that the supply of natural diamonds will gradually decrease over time, and no important new mines have yet emerged. The customer bases of lab-grown diamonds and natural diamonds will be complementary. "If you're going to invest, you're going to choose natural diamonds. So, first-time diamond buyers will choose lab-grown diamonds, and then they'll move to natural diamonds."
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