Indian Jewellery Firms Expand Focus on Lab-Grown Diamonds and Domestic Retail

The Indian gems and jewellery industry is undergoing a significant transformation, with a notable shift towards lab-grown diamonds (LGDs) and a concerted effort to boost domestic retail sales. Companies are investing in new manufacturing capabilities and expanding their retail networks to cater to this emerging market. Goldiam International, a prominent player, recently secured a substantial ₹50 crore export order for lab-grown diamond jewellery from U.S. clients, scheduled for execution by November 2026. Concurrently, Goldiam is actively growing its domestic B2C retail brand, 'ORIGEM,' which now boasts 26 operational stores as of August 2026, indicating a diversified revenue strategy. Similarly, Golkunda Diamonds & Jewellery has commenced operations at a new domestic manufacturing facility in Mumbai, with an installed capacity of 125–150 kg of jewellery annually, targeting major Indian retail chains. The company plans to launch its B2C retail operations for lab-grown diamonds around Diwali 2026. This strategic pivot by leading firms reflects the industry's response to changing global dynamics, including the impact on exports, and a proactive move to strengthen the domestic market. The Gem and Jewellery Export Promotion Council (GJEPC) has also emphasized the importance of increasing domestic consumption and sales by 10-15% in 2026 to mitigate external challenges. These developments highlight a dynamic period for India's jewellery retail landscape, with an increasing focus on innovation and reaching a broader consumer base through modern retail formats.