This article first appeared in the JNA September/ October 2022 issue.

Heartened by rising trade and consumer demand in recent years, Bhanderi Lab Grown Diamonds is gearing up for further growth in 2023.

For starters, the lab-grown diamond (LGD) specialist is building a new state-of-the-art factory in Surat, India in anticipation of continued market interest in and clamour for LGDs.

The new facility will expand the company’s production capacity from the current 150,000 carats of polished lab-grown diamonds a month to 700,000 carats a month by the end of 2022, according to company founder and chairman Ghanshyam Bhanderi.

Also on the agenda for next year is the launch of an LGD jewellery retail brand.

In an interview with JNA, CEO Snehal Patel revealed that the new brand will provide consumers around the world with lightweight daily-wear jewellery pieces adorned with high-quality LGDs.

Established in 2013, Bhanderi Lab Grown Diamonds is a leading manufacturer and supplier of LGDs grown using the Chemical Vapor Deposition (CVD) method. It caters to distributors, wholesalers and retailers around the world. The US and Europe are its top markets.

While the company produces a wide range of LGDs in all sizes, qualities and shapes, its bestsellers are its lab-grown diamonds from 1 carat to 5 carats in EFG colours.

“Demand is also increasing for smaller sizes of less than 1 carat,” noted Patel.

Bhanderi Lab Grown Diamonds is upbeat on the business prospects for LGDs moving forward. Citing industry data on the exponential growth of the sector by 2025, the company expects LGDs to increase its market share of the gem and jewellery market as consumers gravitate to the product’s design flexibility, attractive prices and sustainable nature.

“Lab-grown diamonds will play a significant role in the jewellery and fashion industries in the coming year. The growth opportunities are tremendous,” Patel added.