Gold Vs Diamonds, Lab Grown Diamonds, Astrology & Investment | Limelight | FO367 Raj Shamani

0:00Compare gold vs diamond to me. What is gold? It's so much investment. It will stay in the locker. We don't take jewelry for lockers. What is the difference between lab-grown diamond and real diamond? The molecular structure is the same. The chemical, thermal, optical, physical characteristics are all the same. Why do people think it's fake and real? Diamonds are falling. If it's a diamond, it's not falling. Tell me the price differences now. A ring of a carat will get 5-6 lakhs in a carat ring. And that is the same thing in the lab grown diamond industry at Rs. 80 ,000 What is the good diamond?

0:34I have three categories One which is less than 50 lakhs in a month One which is less than 50 lakhs in a month One which is less than 50 lakhs In the 50 ,000th salary bracket, half a cent carat So, anywhere between 30 ,000 Oh! If you're saying 5 lakhs, maybe 1 to 1.5 carat Take a heart shaped The range of about Rs. 80 ,000 to 1 lakh So, what's your turnover and what's your revenue you are doing? Even today, billionaires, rappers, these are also very rare diamonds. Why do they fly that?

1:10We all heard that gold price increases with time. But it's not diamonds. Why is that? Are diamonds only for a show? Why are natural diamonds so expensive? And are lab-grown diamonds an alternative? can be creative? In all these topics, we will talk about our guest today, Pooja Madhavan, founder and MD of Limelight Diamonds, which is India's largest lab-grown diamond brand. Today, we have known them what is the difference between lab-grown diamonds and natural diamonds? How are lab-grown diamonds environment friendly? And why are the difference between natural diamonds and lab-grown diamonds? Please watch this episode to end.

1:49And in the comments, in this video tell me do you consider to buy lab-grown diamonds or not?

1:58Compare gold versus diamond to me. Gold usually people buy, they also use jewelry, but it increases its value, it's an asset. It's not an asset, it's not a value of diamond. I was seeing a stat that in 1970, the value of 1 kg of gold was about 18 ,400. rupees tiy. Aaj it's almost 90 lakhs. 89 lakhs plus something right? Correct. 1 kilo gold ki diamond in 1970 when you take one carat it's always about 2500 dollars 2700 dollars. Aaj a carat ka lete ho toh wo bhi 2500 se leke 5000-6000 tak ke beech me almost same price. So diamond ki price inhi bade itinye salloh mein. Uski price 50 salloh mein diamond ki price kuch bhi nhi bade.

2:44Gold ki price 456 times over. Correct. so I'll tell you there are two things right first is that diamond and gold never compared now this is the economist in me talking that rationally and radically you know gold was always a commodity exchanged on trading platforms right there was a very clear pricing benchmark there was a very clear understanding that this is the uniform price of gold and that will be trading natural diamonds never had that there was no clear pricing it was not a commodity that was exchanged on traded platforms uh there was no transparency right uh and that is why it cannot be uh a product that you can you know sort of commoditize and people compare jewelry when they buy something so they compare gold people say gold it will come in the future big will come in the future money will grow so actually this myth that diamond is a store of value and today that myth actually burst because natural diamond pricing up to 60 % so I think the generation of today's that already has understood that diamonds are not a store of value gold what is it?

4:07Gold is a very different supply demand economics. Whereas natural diamond was a very differently driven supply demand economics. And now that natural diamond has technology against it. So you have technology that has the same product. Because I have understood the understanding of customer preferences. That's why we don't take the new lockers for the jewelry. I don't need the new lockers for the jewelry. I want to wear it. So you have to wear it. now for example you will buy natural diamond earrings then it will come in 50-60 lakhs now 50-60 lakhs if I take natural diamond earrings then there will be appreciation today it doesn't look like it but because it is so much investment it will stay in the locker I will not take it to the destination I will not travel with it I will not go to dinner so what does it mean to stay inside What does it mean to stay in the same place?

5:05And now, in front of me, I have the same product that will come in 4-4-4 lakhs. Which I can easily buy. And also, the transaction becomes easier. If I have 50-60 lakhs jewelry, I have to exchange it. Then, it will go in time. How will I exchange it? What will I exchange for a 50 lakhs jewelry? But if it will be 4-4 lakhs, I will exchange it. That means I can frequently transact with it. I can buy some new jewelry. can buy today's customer has grown a lot from the utility and utility comes with affordability and utility always will go together and that's why this shift happened to lab-grown diamonds but these reasons never for diamonds the real reason was people value in relationship diamonds why do you think people value comparatively to all the other jewelry I think this was a very strong narrative which was set It was a very strong marketing that was done in the past for selling natural diamonds.

6:09But in the meantime, this narrative has been changed a lot. Today, the girl is saying that I can buy a diamond myself. I don't need a hee to buy a diamond. I can buy my diamonds myself and I can buy my jewelry myself. So I think that narrative is not there anymore. People are thinking very different. thinking about it. Plus, in lab-grown diamonds, you have so many offers. You know, like, we see that when we started limelight, we thought that we will do this to give customers something new. You know, and when we saw that in the natural diamond industry, you will see that all little diamonds are made from small diamonds.

6:5280-95 % of jewelry is all small diamonds. Right? Solitaire doesn't get solid. Although the diamond is the biggest in the stone, it is solitary. The wastage of it is small in that small diamonds. But in India there was no affordability for the solitaire, so we only have small diamonds. And we have, but every girl thought that I will not wear that solitaire one day. That one day I will need that solitaire one day. And today's girl said that I will buy that solitaire one day. right but that's never been given in natural diamonds today the technology you are bringing today you are able to fulfill every design aspiration today i can wear solitaire you know we have so big range in solitaire that consumers were like shocked that this is so good and how you can get in price points you know which i was doing a little research for this and i was I was interested in studying about what diamonds were related to the relationship and marketing narrative.

8:00How did you add a joint? It's genius. In the 1930s, there was a depression. People were lost in that time. So, that's why people wanted to buy diamonds. They didn't have any difference between diamonds. So, the overall demand was reduced. Because when you don't have money in your house, I would like to think about how I would better my life then you will buy diamonds and then you will see that depression in 1947 I think D-Bears correct D-Bears was released as a narrative diamonds are forever right that there is no selling value of diamonds or depreciating value diamonds are just eternal love and whatever you have done It's a symbol of his and they connected it with relationships.

8:49So if you want to that your relationship starts or stays forever, then diamonds are something that will signify it. And you have made marketing. And that's how the whole narrative started that you should have a diamond and then if you want to sell them to premium, they made a two month salary rule. Correct. So they made the whole narrative that a girl has the salary of 2 months you need to give the amount of diamonds to your partner or girlfriend or wife if she doesn't give that, she's a little bit of love correct so you have a salary of two months so then it became ego for men and women that you don't love me, you're so easy to give you so that's how they started spending even more that we will spend a minimum of two months on diamonds and since then it's just so big that it's just going above and above and above absolutely love love depth and value decides how many months you see this diamond buying and it's insane it's genius it's like brilliant you know I think one of the biggest market case studies that have been created marketing if you see Debeer's the biggest case study is made diamonds are forever but I think that thing they learned that emotional value you wear in engagement ring and wear in engagement ring and today's story 50 % more than 50 % of engagement rings are in lab grown also that these new customers are saying strong narrative on sustainability that I care about my future you know and the damage is happening they say a diamond is forever but what they don't say is the damage is forever after Really?

10:43Are people buying? Yeah, these are stats. Absolute stats. More than 50 % of... Would you be okay if your partner gives you... I would only want a lab-grown diamond. Why do you have normal life? Because I don't want... Today, one carat of a natural diamond destroys or shifts 250 tons of the earth. One carat of a natural diamond emits 57 kgs of carbon. One carat. Today we consume close to 111 million carats. of natural diamonds just imagine the kind of environment and if all these are lab grown diamonds how much difference will it be? absolutely, all these will be removed there is no we don't do mining so I am saying why should I and I have a product like I said in natural diamonds I was getting 98 % of the product with nitrogen and boron impurities that 2 % of pure carbon was not getting because it is not But then why even today billionaires, rappers, ultra rich, very very luxury people, these people who are very famous, why are they running behind a lot of rare red diamonds, why do they run behind real diamonds?

11:56Why do they flex that? Now you see, the trend is changing a lot. Today LV, Prada, they are all getting into lab grown diamonds. Now all their customers are ultra rich and a rise. See, their brand value is but if it's a diamond market. Correct, you will see, So, Meghan Markle, you take Leonardo DiCaprio, you take Penelope Cruz. They all have endorsed lab-grown diamond brands. And Leonardo DiCaprio had done blood diamonds. In fact, he came out in the open and said, I have done a movie of blood diamonds. That's why I think I should support lab-grown diamonds. And he came out and he endorsed. He's invested in a lab-grown diamond company in the US.

12:34But the point is not that. My point was, why ultra-luxury people, ultra high net worth individuals why do we celebrate today that this is real this is rare I want to disagree to that today the ultra luxury people are always changing mindset that's what I'm trying to say it's more like if I have natural diamond jewelry then well and good I'm not going to discount but if I have a decision then I will get it so I'll say most rational choice is that same product better price and that's why my design aspirations are fulfilled today as even an ultra luxury you know individual we have had consumers come and buy a 21 carat heart shaped ring from us right now if 21 carat was their aspiration they would have never been able to achieve that I mean they didn't know in natural diamonds they are on the croods right but today they have that 21 carat heart shaped and they celebrated it.

13:40They had their dreams. They had a diamond in the end. I know, what difference is. Lab-grown diamond and real diamond difference? No one is. In fact, lab-grown diamond, which is made from CVD, which we make from CVD methods, which are the quality of the diamond. So, first of all, there is no difference in lab-grown diamond and natural diamond. They are identical. Because both of them, the definition of diamond, which is released from US FTC guidelines, from carbon, it says that if it is made from carbon, from carbon, and its hardness on more scale 10, then where is it? Where is it? Natural diamond matches lab-grown diamond, CVD diamond.

14:19But in the way, there will be problems with the structure? No. The molecular structure is the same. The chemical, thermal, optical, physical characteristics are all the same. So if you have a jeweler and two diamonds, you can't tell. No. No. You can't tell expert jeweler. you can't tell the difference you can take a magnifying glass 40x magnifying glass 10x magnifying glass you can't tell why do people think this is fake and real because awareness awareness today awareness that is growing today we can grow so much lab grown diamond industry because awareness is growing that our product is the same and that lab grown diamond which is CVD diamond they are actually superior quality because it is pure carbon The certified agency that is certified by natural diamond is certified by lab-grown diamond.

15:09And if there is a diamond made pure carbon, it is a type 2A. It is written on the certificate that it is type 2A. So, the CVD diamonds are pure type 2A diamonds. So, it is getting superior quality. And that's why if you will see that this is made in India, it is a make in India product. So our lab-grown diamond industry best cheerleaders are our government. This is the support of the country's diamond. Today Modi Ji has celebrated the iconic 75th independence day when they were in the US. So our former portists, first lady, Mrs. Jill Biden, gave a 7.5 carat diamond. And that diamond was a lab-grown diamond.

15:57and he said green diamond. He called it a green diamond. Even in his rallies when he talks, he always talks about green diamond. Not just Modi ji, right? Our Piyush Goyal ji, he also talked about it in Rajya Sabha. He told him that the whole journey of lab ground diamond is the whole journey to which product. There's a chance to get a lot of products that his talk is in the union budget and he gets an explanation. you know Sita Raman Ji has explained that the lab-grown diamond is identical environmental friendly same thermal optical characteristics so it's great here's a question sure so why can you this is the real diamond absolutely why can you say why are you synthetic because in today's time there is a price discrepancy right natural or lab-grown price discrepancy so if someone is not selling then there is every, I mean, in the mind of the people's discomfort that you are buying me, right?

17:00Because their prices are and our prices are in that discrepancy. One time it will come and it will come very quickly when this discrepancy will die. Then both diamonds, both diamonds are going to be living in the end, right? So those things are happening in the day because it's getting new awareness, new product innovate that is why there is a conversation after that there is a raw material raw material you have to put whatever you want then say design you are going to go somewhere you are not going to take a stone of diamond you actually buy diamond jewelry so at the end you are buying the product that you are buying is jewelry and it is branded jewelry so branded jewelry design, value promise, proposition brand that is all the money diamond is now a brand And it's impossible that diamond will be like a brand.

17:52Not possible. So today, Limelight stands as the largest lab-grown diamond brand in the country. We have 30 stores. We are going to reach 50 stores in two months. Sweet. By 2026, there are going to be 100 stores. And the first thing that was our customer validation was because Limelight was the only brand that sold it. Right? we have come to open and come to buy that we want to buy lab grown diamonds and we want to buy lab grown cvd diamonds and why not buy it today like i said we were buying the wood we were buying now why do I buy the wood when I have better wood why do I buy the wood of india why do i buy cvd wood and what is it and here it is transparent pricing here technology price is on the technology price is on the technology so customers are not even blindfolded that what will happen where will it come from and those marketing narratives set up before today we are not in a monopolistic driven situation that you can make anything or say on any basis you can keep supply hold you can shoot up price and people will believe there is no time So we actually got customer validation when we said we have put our limelight board below.

19:14On every board. Limelight below lab grown CVD diamonds. We take immense pride in selling our country's product. Right? And we are factually the same thing. But that awareness needs to come to the audiences. And they should also know that this is a country diamond. So from throwing your stone from outside, throw your stone from outside. Nice. and tell me price differences now right how much difference is in a real diamond and a real natural diamond and a lab grown diamond we don't know real diamonds so I give a simple example although you know there are many variations there are color clarities in natural diamonds VVS, VS, colors, DEF, GH that is also in lab grown so depending on color clarity pricing variances but if we take a carat like for like if we take a ring of natural diamond at retail level you will get 5-6 lakhs in rs typical quality color clarity will be vs gh and that is the same thing you will get in limelight at 80 000 rupees vs ef color clarity right so the ef so you have quality so GH little dullness EF is a better color clarity VS is a better color clarity and GH is a little lower color clarity so you have majority of the times affordability in India GH SI, IJ all of the diamonds were so that they are a little lower in price so that is affordable for customers right today the product is in that you have much lesser price affordability increases so you have to almost like 20 % of the natural diamond price at least 20 % is the point and if you go to small diamonds then people think that there is no price differential this is about solitaire one carat but if you go to small diamonds then there is little bit of 40-50 % difference where lab grown diamonds are 40-50 % more affordable than natural diamonds 40 % 50 % more affordable in small ones in small ones that was not 20 % that was 80 % cheaper so here it was 50 % cheaper not major difference but still a big difference exactly the promise was that customer didn't buy today already market was not flourishing well we were already facing a problem that diamonds didn't be growing because this promise today's customer doesn't want to buy a house he's saying I will live on rent because I want to live today I want to enjoy experiences and what I want to use and what I want to invest I don't want to invest but how many categories have opened today SIP and mutual funds so I want to buy gold today I will buy gold bar today but I will buy jewelry I will buy jewelry for wearing so today's customer is saying that this is the name of the heirloom or mother or father or whatever that all can come to me but if I want to buy something I want to buy rational choice I want to buy the one I want to buy today you have a carat which I have given you know example so a carat is a natural diamond ring in 5 lakhs a carat key lime light key ring a lap ground diamond key ring 8000 4 ,20 ,000 rupiah save right when 4 ,20 ,000 rupiah he will say 2 ,00 ,000 rupiah I will pay a good trip I will pay a good trip 2 ,20 ,000 I will invest those 2 ,20 ,000 in my 5 years 4 ,40 ,000 and in that 4 ,40 ,000 I will pay 5 and 1 carat key ring right so So that is how the new mindset is.

23:26That you have to invest in the right place. You have to pay in the right place. And you have to pay for yourself. For wearing. And tell me three types. I don't know everything. All of that is new for me. Right. So tell me three types. Diamond. Low, mid, premium. And how can people compare it? How can people know? So many people who actually buy diamonds. buy it is very categorical. We have learned

24:01that color, clarity, cut and carrot 4 C's. Now, 5 C is also classification. So, first, cut is cut. The cut is cut from 57 facets. The light, shine and brightness is made of diamond. Cut is always excellent. No fluorescence is standard. Carrots depending on what stone size is according to your carrots 1 carrot, 50 cents, 30 cents etc In color clarity there are qualities defined so color clarity highest clarity is VVS, VS, then SI, IJ so that they are below All the top is VVS Yes, the top is IF internally flawless but that is unattainable but you can get diamonds diamonds can get but very little even in natural or lab grown IF is very little VVS gets VVS is the most found category lab grown or natural and highest color bracket is DEF below GH below IJ then L, M, N, O, P also but those all then diamond is white so slowly you go down then it's yellow means it's yellow shade green shade so all those are lower categories it's dullness etc so DEF is the highest shade DEF right and now DEF VVS 57 facets based on the size and which size is good size 1 carat 2 carat 5 carat go on as much as you like 21 carat go on as much as you like and there are shapes right so now what is the new trend that now I want to take shapes there's a heart shape there's an emerald shape there's a trillion shape there's a pear shape there's princess marquise so this is also like what I'm wearing these are all this is a marquise solitaire in the center so these are all different shapes and there's all design right at the end of the day I want to wear different things.

26:15I've been around classic pentagon movies. This is new ABCD for me. I don't know what we're talking about. I'm guessing you're not married. You're not yet. That's why. That's why. You know our limelight may benefit here that we are a fully vertically integrated company. So our two powerhouses are our backing. One is the Bhatwari group which are the largest producers of lab grown diamonds in the world and the other is the Emerald Jewel Industry Group which is the Asia's largest jewelry manufacturer right so these two powerhouses have fully integrated our supply chain so our supply chain is in full control so from that to that our customers have not only premium finish best designs our Italian make you know machines where this jewelry comes from so you get a top-notch finish and very very good designs but when the customer comes inside the design and and that price point is on it.

27:14And they're like, let's just take it today. Why do we have to wait? Why do we have to wait for one day when you have to wait for one day? And plus, we educate, we educate, we educate, that this product is, you know, this is its real, this is how it is, and this is a certification, we're not saying it. These are certifying agencies saying it's real, it's the exact same, etc. You see it. So then they're like, yes, it's buyback, it's exchange, and that's why our credibility has increased in our minds. Their backing is so big. So, this is not a brand from anyone. This is a brand from anyone. So, if we give this promise, we can believe that this promise will be fulfilled.

28:00And we do it obviously. Tell me, what is a good diamond? Because many people who are proposing, when they are going to be a good diamond, then they feel like I am going to give my partner a good diamond. See, as I said, I would tell the 90 % of the cases that I had previously told them. So we will know. Or I would give a hint here and tell them directly to my head. Three carat baby, five carat whatever that is. That is the aspiration and demand. Correct. But those who have confusion, tell me what is a good diamond. Like something which is good. And tell three categories. one that is less than 50 lakhs in a month, one that is less than 50 lakhs in a month, one that is less than 50 lakhs per month.

28:44For three, tell me what is a good diamond. So, first, a good diamond is the one that is responsible. A good diamond is a responsible diamond. And I think it's time now that there is an option to choose a responsible diamond. choose so I would first suggest good diamond is a responsible diamond secondly I think diamond like you know you know you know you know you know the girl has understood what she wants and most of the times I just want but every girl has a aspiration and you will you will be in a good place so make sure you talk to them and tell them what they need and today's girl is very well informed they know what size they need, what shape they need what trending are today which character of solitaire they need for their proposal so everything is understood but if you have to break a category So I guess In the salary bracket You know A good diamond or Could be a half a cent carat Half carat It's a great starting point Because Every girl's desire Is a solitary So if you're giving a solitary If it's a half carat It's a meaningful size is for any girl half carat means how much?

30:28half carat is between 20 to 30 thousand oh so you have got that 2 months discount good discount 75 % haircut in half carat will be fine if you are saying anybody in the salary bracket of 5 lakh for example I think they will give them maybe they will give them As for the aspirations, there are many of them. But Shoba can give maybe one to one and a half carat. And maybe, you know, maybe go beyond the rounds. Maybe take an oval, take a pair, take a heart shaped, depending on what she likes. And that would be anywhere in the range of about 80 ,000 to 1 lakh rupees. Okay. And on that, three carat, five carat, you know.

31:20And the most. The most. like that and that's what you like now we have to come pink diamonds in lab groans you know that was also a good pink diamonds all of a sudden world in this world it's become very aspirational why? it's come now because you know commercial level people didn't see pink diamonds before you know high society and in auctions many people have increased discretionary spends so people are going to auctions so the exposure like you expose you have to demand that thing you know demand so I think that exposure got to people that's why pink diamonds blue diamonds yellow diamonds they're all picking up trend now do you think that the diamond mafia the diamond cartel they control or they're doing something because they don't get much support they're trying to cut you off 100 % lobbying lobbying from every place i was very important article back in the day and it was very big you know um what do you say news platform and it was so lobbying that they pulled it down what was the article only facts about lab grown diamonds i didn't tell anything i just told how it is made of lab grown diamonds what is the process how it is identical is the certification, the certifying agencies, type 2, which I have told now.

32:53Exactly that is exactly the same thing I wrote. And the editor approved it. But not only the Indian team, but the pressure on it, Global team. Global international team. At night, the article was removed. I mean, we started the journey in 2019. when we started our first time that we had COVID so in COVID we had to do more transactions because everyone wanted to touch and feel so at that time we had a challenge in the times and we were spreading awareness everywhere but in that way, you know, even now, there is a lot of misinformation, misrepresentation you know, it's very much. In lab-grown diamonds, it's called that it's not sustainable.

33:44Right? The government is saying that it's environmentally friendly diamonds. So, which basis is not sustainable on which basis? It's saying that it's also electricity. 90 % of the growers are running on solar. So, which electricity is talking about? So, these are the myth-busters, it's very much. means now this is the start of the day right but customers what is it customers we are living in a digital transformation world therefore information is very easy right that information is not easy to translate someone to someone so it is easy to get it so that's why lab grown diamond industry is getting a opportunity to get people's thoughts very easily but otherwise of course a strong lobby is against you guys what do they do what do they do misinformation misinformation mainly mainly mainly mainly mainly mainly mainly mainly mainly misinformation you know what is how to represent like wholesale level prices disclose that this is lab grown diamond price so also disclose wholesale level prices also disclose right why Why do we call our wholesale prices and customers that this is the price?

35:04So customers will think that no one is giving a shop owner at this price But they are not understanding that they are talking about trade level prices You know, in the newspaper, any of the lab ground diamond prices are trading level prices business owners also have to go to the shop, corporate retail, retail brands, they have to go to the shop before corporate, they have to go to the shop. so there are margins, you break the chain and you can't tell the pricing behind the market. they can't tell the pricing and they compare with their different pricing so that is all very misinformation misrepresentation you know trying to create that kind of I mean that is all at best but honestly that's past what is the trade margin for them for natural diamonds again this is a whole supply chain so you will talk about where and where and where you will talk about everything different explain first the whole supply chain like for example there are miners and miners and miners are diamond manufacturers means miners is out of the miners and miners are out of the diamond manufacturers where the diamond is made in diamond diamond.

36:25After that, traders go to the traders. Traders sell to the jewelry manufacturers. Jewelry manufacturers sell to the wholesaler. Wholesaler sell to the retailer. And the retailer sell to the customer. Who does the most earn? The most earn. So, average, the average margin is earning. Every place, the margin of 20-30 % of their relevant industry is earning. It's not that someone is earning. of course the big brands are the premiums but they are the premiums because they are the corporate overheads so it's not that anyone has a lot of margin see if someone has a lot of margin in any industry then the entire industry will run like there will be competition no one will survive with external margins and you know i'll give you an example in lab-grown diamond many people say you know now the price crash has been completely crashed.

37:20There is no value in it because it is a technology driven product. The supply is unguinant. But this is actually the biggest myth of lab grown diamonds. What happened in my eyes? Suppose there is a cost. It is made by technology. It is not hidden in it. Suppose the cost of making a diamond is 100. So, when it was 5-7 years ago, it was a new thing. It was also an innovation that we can grow in the quality of gemstones or diamonds. When players were little, they were selling in 400. Because there was no benchmark pricing. I am selling it from my opinion. So, the growers and manufacturers were selling in 400.

38:14this is the first thing I started in 4-5 years and at that time, the retailer was selling $800 for example, now what happened? people have seen a lot of margins, so competition can you put this machine, I will put it too, so people who invested in 100 machines plus but someone put 5 machines someone put 15 machines someone put 20 machines they didn't understand that the commercial economics is actually 100 machines right but everyone put 100 to 400 we put it right then everyone put it and then they realized that they are selling in 400 I am selling in 300 because because I want to go to the market I will give you$300 and someone has$200 when it happens, that$400 has$120 this was more rationalization of profit which is in a new industry you know that there will be competition and whatever super normal profit is, it will reduce so this was happened in the last 3-4 years the world has seen demand has increased from its own three years ago 15 billion dollar valuation lab grown diamond global market today 25 billion dollar after 10 years 45 billion dollars right so it's growing everyday but this is compared to it and what happened that 120 cents so margin is not much so capex break even means if you have to put a machine then your investment will take 5 years for the capex break even to be achieved so now and whoever comes in will think and think that I should go to it or not it's not like that I have financial financial potential so I will just put a machine people think that in today's time there are many machines there are 10 ,000 machines there are 10 players in India and there are nothing India is full production of LabGround Diamond In the global production, India will not buy 5x in the next 5 years.

40:31Because the consumption potential is so much in India. Like I said, 90 % of people don't wear diamonds. So they will wear them now. They will also take them. So the aspirational class is where is the production? So to say that supply will come like that, and margins are not like super normal. but like you will make other brands your brand will be bigger lab grown diamonds will increase acceptance then the natural diamonds their value is worthless diamonds will become diamonds diamonds will become diamonds diamonds will become diamonds diamonds like cotton right brand it will be jewelry from tomorrow it is not just like leather it's just like let's say I have limelight jewelry or carter or tiffany or bulgari whatever absolutely global brands absolutely what you are selling what you are what you are what you are promises aspiration design and customer service brand this fulfills what the brand will do and absolutely that is what it is going to say no difference in this this is a classic one carat this is one carat How much are these earrings?

41:53These are VVSEF We were talking about this. What price is this? 80 ,000 This is 80 ,000? Wow And this is big? This is 2 carat? 2 carat So this will be 1.5 or 1.6 2 lakhs And what are these? These are big These are very big, very flashy big These are 44 carats each And what are these? 5 ,60 ,000 Wow, interesting. It's a steelhead of highland. Do you think the luxury brands like Tiffany, Carter, all these brands, do you use secretly lab-grown diamonds? I don't think they use secretly lab-grown diamonds. I don't think they would take that much of a risk. Because if you have a brand today, trust and transparency are the two biggest assets that a brand can have.

42:50they are so big that and you would not want to do that but what they are most certainly going to do is come into lab-grown diamonds they cannot they'll openly talk about it yes and nobody can shy away from lab-grown diamonds today it's an absolute fact it's been done now it's inevitable this can't do anything anything can do anything diamonds are broken? no they are broken if it's gone then something happens? no no if it's a diamond then it won't be broken so these lab-grown diamonds be tooting inning. Tooting inning. Nothing will happen. Same hardness, same level things. Okay. 100%. What's the craziest innovation which is coming in this industry?

43:29What will it be in the next 5 years? I think innovation is a lot of focus on design. Okay. You know, and the craziest is going to be all sorts of different things that will come with lab-grown diamonds. Lab-grown diamonds are still you know, today there are seven to eight shapes in lab-grown diamonds. Diamonds. you know you have round emerald, pair, marquise these are standard shapes that come from 7 to 8 now you are making a stone in the lab grown you can decide which shape you can make so you can come such unginate shapes that the world has never seen before you know colors can come we have actually at the growing level which is the Bhatwari group they had innovated and they had actually produced one grey diamond grey?