Agastya Sonani, Director, Extraordinaire Sonani Jewels, addressed the positioning, manufacturing and policy needs of the lab-grown diamond segment in an interview published by MediaNews4U on August 24.
Referencing McKinsey projections that lab-grown diamonds will account for half of global diamond sales by 2030, Sonani said the brand's communication avoids value-based comparisons. "Our brand positioning is firmly rooted in luxury, exceptional quality, and contemporary elegance rather than price comparisons," he said, adding that lab-grown diamonds are presented as a modern expression of craftsmanship rather than through technology messaging.
On resale value, Sonani said lab-grown diamonds should not be viewed the same way as traditional investment assets such as gold. "There is a common misconception that lab-grown diamonds have no resale value. They do have resale value, although consumers should view them differently," he said, adding that purchases today are increasingly driven by design and sustainability rather than investment.
Sonani reiterated the company's earlier appeal to the government for tax benefits, R&D subsidies and import duty cuts on lab-grown diamond machinery, comparing it to government support historically extended to electronics, semiconductors and renewable energy manufacturing.
On manufacturing, Sonani said the company's production arm, Sonani Industries, is investing in advanced manufacturing systems and process optimisation to improve precision and consistency. He said its output supplies markets including Europe, North America, Japan, Hong Kong and the GCC.
