India's Lab-Grown Diamond Exports Cross Natural Diamond Shipments in Jan-May 2026

India's diamond trade is seeing a clear shift in export volumes as lab-grown stones gain ground against natural diamonds, as per news reports.  

Data from the Department of Commerce and ITC Trade Map shows lab-grown diamond shipments overtook natural diamond exports in the first five months of 2026. 

Lab-Grown Shipments Rise Sharply 

India exported 7.05 million carats of lab-grown diamonds between January and May 2026, compared with 6.70 million carats of natural diamonds. 

The change is more visible over the longer period. Lab-grown exports rose from 3.57 million carats in 2022 to 14.95 million carats in 2025, while natural diamond exports fell from 26.63 million carats to 15.81 million carats. 

Prices have moved in opposite directions in terms of scale. Natural diamond export prices declined from $865.50 per carat in 2022 to $757.91 in January-May 2026. Lab-grown prices fell from $388.77 to $71.13 per carat over the same periods. 

India's Share of Global Exports Increases 

India's share of global lab-grown diamond exports increased from 28.03% in 2022 to 35.73% in 2025, making it the leading exporter of polished lab-grown diamonds. 

Hong Kong and China remained leading exporters of rough and unworked lab-grown diamonds. 

India's global share rose each year, reaching 31.6% in 2023 and 35.5% in 2024. Hong Kong held 25.4% in 2025, followed by the UAE at 12.7%, China at 9.7% and the US at 8.3%. 

Export Markets Changing 

The US was India's largest lab-grown diamond market, but its share fell from 63.49% in 2022 to 16.66% in January-May 2026. 

Hong Kong moved in the opposite direction, with its share rising from 13.51% to 45.4%. Israel, Belgium and the UAE were other major markets. 

Natural Diamond Market Under Pressure 

Natural diamond exports nearly halved between 2022 and 2025. Meanwhile, lab-grown export value fell from $1.42 billion in 2023 to $1.19 billion in 2025, despite higher volumes. 

Natural diamond export earnings remained above $12 billion, nearly 12 times lab-grown diamond shipment earnings. 

De Beers has also paused mining at its Venetia mine in South Africa to reduce costs and manage excess supply, while cheaper lab-grown diamonds continue to pressure the natural diamond market. 

Read More: Telecom Sector AGR Dues Stand at ₹1.41 Lakh Crore; Vodafone Idea Leads With ₹66,149 Crore! 

Conclusion 

India's export data shows rapidly rising lab-grown diamond volumes alongside declining natural diamond shipments and a sharp fall in lab-grown diamond prices. 

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