New era of diamonds: Blending tradition, technology and trust

Aryama Jewels and Regalis Diamonds are forging India’s craftsmanship with Europe’s ethical luxury demands

Sep 10, 2025, 10:22 IST4 min

The jewellery industry, particularly diamond jewellery, is at the cusp of a major transformation. The glittering stones that have symbolised love, wealth and tradition for centuries are undergoing a quiet revolution, thanks to technology, changing consumer preferences and shifting cultural narratives. At the heart of this change are lab-grown diamonds, identical in brilliance to their mined counterparts but produced with innovation and intent.

In a recent CNBC Awaaz special—Beyond the Mine: The Future of Diamonds, Kriti Parwani Kansal, Managing Director, Aryama Jewels and Dominik Kucharski, Co-founder, Regalis Diamonds shared their perspectives. Together, they are forging India’s traditional craftsmanship with Europe’s growing appetite for ethical, affordable and design-forward jewellery.

Friendship to Partnership

The story of Regalis Diamonds is a seamless blend of commerce and camaraderie. Kucharski recalls, “Siddharth Kansal, co-founder of Aryama Jewels, and I go way back to our university days in England. We became friends and that bond sustained over the years. When Siddharth launched Aryama in 2024, we saw a huge opportunity in lab-grown diamonds in Europe—and that’s how Regalis was born.”

What makes Regalis unique is its simplified supply chain. Traditionally, European jewellery goes through multiple middlemen and stops across countries. “We keep everything in Surat—cutting, polishing and setting—so the finished jewellery leaves India directly. This reduces costs, shortens lead times and makes us more competitive,” explains Kucharski.

But efficiency is only half the story. Regalis enjoys the efficiency of just-in-time operations. “Due to our operations and logistics, we don’t have to maintain exorbitant inventories. Instead, we customize and adapt and that enables us to build long-term relationships with our partners since we never have to push our inventory onto them. We can cater to their unique tastes,” he explains.

New Kind of Sparkle

For Aryama Jewels, the journey began in Kanpur. Like many other tier-2 cities across India, it had significant spending power, coupled with a deep-rooted love for jewellery. Kriti observed a gap. “Designs in smaller cities were repetitive, and I always ended up wanting to design pieces for myself. I realised there was space for something different—something affordable yet high quality. That’s how Aryama, an exclusively lab-grown diamond brand, was born.”

Aryama ensures that every piece is certified, hallmarked, and crafted with Type IIA CVD diamonds—the highest quality in the category. “Lab-grown diamonds are physically, chemically, and optically identical to natural diamonds. Their brilliance and clarity are the same, but they are far more accessible. That’s what makes them special,” Kriti emphasizes.

The brand’s design philosophy is a careful blend of modernity and tradition. “We offer elaborate bridal sets as well as minimalistic every-day jewellery. And customization is key—today, everyone wants jewellery that reflects their individuality,” she notes.

From India to Europe

Natural diamond prices have fallen 25% from their peak two years ago, even as gold prices rose. “The biggest disruptor is lab-grown diamonds,” recounts Kucharski. “In the US, nearly 50% of engagement rings sold by volume are lab-grown. Despite efforts by the natural diamond industry to frame them as mere fashion stones, they’ve firmly established themselves in the engagement ring market.”

India, too, is witnessing a similar shift. “Surat, the hub of diamond cutting, has already pivoted significantly towards lab-grown production. This is affecting exports and reshaping the future of the entire Indian diamond industry,” Kriti explains.

However, consumer education remains critical. “Initially, people thought lab-grown diamonds were artificial, like American diamonds. They worried about whether they would retain their shine, colour and resale value. At Aryama, we address this by offering buyback value, which builds trust. In India, the jewellery market is all about trust, and for a new brand, that’s essential,” she adds.

Cultural Contrasts

Jewellery carries different meanings across geographies. “In India, jewellery is often tied to tradition, festivals and wealth preservation. Diwali alone accounts for up to 30% of annual sales, and weddings drive massive demand for bridal sets. In Europe, the approach is more about personal style and sentimental value—jewellery is often bought for romantic occasions or self-expression,” explains Kucharski.

This creates opportunities for brands like Aryama to balance both worlds. “We do continuous R&D to keep our collections fresh—traditional for weddings and festivals, and minimalistic for younger, urban buyers. Our goal is to offer something for everyone,” says Kriti.

The Road Ahead

As the discussion concluded, both entrepreneurs outlined their growth ambitions. “We want to first establish ourselves strongly in Poland and then expand into other EU countries,” Kucharski affirms.

Aryama, too, is preparing for scale. “Right now, we have a store in Kanpur. Next, we’ll expand to more tier-2 cities, and eventually into metros. Parallelly, we’re working on going online to reach a much wider audience,” Kriti shares.

The future of jewellery is not about choosing between natural and lab-grown, or tradition and modernity. It’s about coexistence, innovation, and consumer choice. Aryama Jewels and Regalis Diamonds exemplify how heritage and innovation can come together across continents to shape a new era for the industry.

The pages slugged ‘Brand Connect’ are equivalent to advertisements and are not written and produced by Forbes India journalists.

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