India Lab-Grown Diamond Export Data 2022–2026

India is the world's leading exporter of polished laboratory-grown diamonds. Here is the story of the last four financial years, based on data from the Gem & Jewellery Export Promotion Council (GJEPC) and industry reports.

Export value by year (polished laboratory-grown diamonds)

FY2022-23: about US$1.68 billion
FY2023-24: about US$1.40 billion (down 16.5%)
FY2024-25: about US$1.26 billion (derived from the FY2025-26 change below)
FY2025-26: about US$1.13 billion (down 10.6%)

Volume tells the other half of the story

While value fell, volume rose strongly. In FY2025-26, exports reached about 18.84 million carats, up almost 31%, and overtook natural diamonds by volume for the first time. See our milestone story.

What explains the trend?

Prices per carat have fallen as global production capacity has grown and processes have become more efficient. The same, or more, carats are worth fewer dollars. For consumers, that means diamond jewellery at prices that were once impossible.

Key markets

The United States is the largest market for India's laboratory-grown diamonds; industry reports put exports to the US at around US$831 million in FY2023-24.
The UAE and Hong Kong are important trading hubs.
Trade agreements are opening doors: Australia (ECTA, in force since December 2022) gives zero-duty access for Indian gem and jewellery exports, and the UK trade agreement signed in July 2025 will do the same once it takes effect.

What it means for buyers and jewellers

Prices are accessible and competitive. A great time to build or expand a lab-grown range.
Supply is deep. India's capacity covers every shape, size and grade.
Volume leadership means reliable matching and repeat supply.