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India's lab-grown diamond jewellery market seen at Rs 5,179 crore by FY2028 as Senco Gold and Westside enter
Our read
With roughly 70 Indian lab-grown players and incumbents like Senco Gold (Sennes) and Westside (Pome) now entering, a ~14% growth market won't make up for weak differentiation, so lock in brand, certification and price positioning before launching assortment.
Watch
Senco Gold's commentary on Sennes sales and store rollout in upcoming quarterly results
The report
India's domestic lab-grown diamond jewellery market was estimated at Rs 3,452 crore in FY2025 and is projected to reach Rs 5,179 crore by FY2028, a CAGR of around 14 per cent, per NITI Aayog. Senco Gold's Sennes and Westside's Pome are among the new entrants.
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Reported figures
From the report. Source details below
| Lab-grown diamond companies in India (Tracxn): | 70 |
|---|---|
| Lab-grown diamond companies in United States: | 37 |
What to track next
- Westside or Pome announcing new stores, online expansion or additional collections
- Another large jeweller or fashion retailer announcing a lab-grown line
- Updated NITI Aayog or Tracxn data showing the market tracking or missing the roughly 14% annual growth rate
- Visible price cuts or the exit of lab-grown brands among the roughly 70 domestic players
The source
Filed
First seen