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flag India's jewelry industry, dominated by gold, sees robust growth, especially in lab-grown diamonds.

flag India's gems and jewelry industry is forecast to grow to $128 billion by 2029, up from $83 billion in 2024, with gold holding 86% of the market. flag Lab-grown diamonds (LGDs) are a key growth area, expected to reach $1.2 billion by 2033, up from $345 million in 2024. flag India's LGD production has surged, now accounting for 15% of global output, with exports jumping eightfold to $1.3 billion in the last four years.

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