Neither ‘rare’ nor ‘forever’, will diamonds continue to allure investors?

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Synopsis
Diamonds, once symbol of exclusivity and wealth, are now facing disruption from lab-grown alternatives that promise affordability and sustainability. As LGDs gain ground, they also challenge the idea of diamonds as a luxury symbol. Can rarity still be valued in a world where diamonds are becoming more common?

When Indian Prime Minister Narendra Modi gifted a 7.5-carat lab-grown diamond (LGD) to First Lady Jill Biden during his White House visit in June 2023, it wasn’t just a diplomatic gesture, it was a nod to India’s rising dominance in the LGD market — commanding 25% global share of lab-grown diamonds. With red-carpet endorsements from Meghan Markle to Lady Gaga, lab-grown diamonds are stealing the spotlight. But beneath their sparkle lies a