In Conversation with: Mr. Smit Patel

Championing innovation and sustainability in the world of lab-grown diamonds — one ethical sparkle at a time.

Mr. Smit Patel is the Director of Greenlab Diamonds LLP – the world’s largest cultivator of lab-grown diamonds. A third-generation diamantaire, he represents a proud family legacy of over five decades in diamond manufacturing and exports. He also serves as a panel member of the Lab-Grown Diamond Sector at the Gem & Jewellery Export Promotion Council (GJEPC), an undertaking of India’s Ministry of Commerce and Industry.

Guided by a strong vision for ethical and sustainable luxury, Mr. Patel has led Greenlab’s growth through cutting-edge innovation, integrating technology with craftsmanship to achieve exceptional standards in quality and transparency. Under his leadership, the company has built a fully integrated “farm-to-shelf” production model, ensuring traceability and efficiency at every stage. Beyond business, he is deeply committed to social responsibility — championing initiatives such as planting a tree for every diamond cultivated and empowering rural youth through education and livelihood opportunities.

You represent the third generation of a family deeply rooted in the diamond industry. How has your family’s legacy shaped your own journey and vision for Greenlab Diamonds?

Diamonds have always been part of my environment while growing up. Conversations at home, values around discipline, quality, and integrity shaped my thinking from an early age. What I inherited from my family’s legacy wasn’t just knowledge of the trade, but a mindset — to respect the craft, to innovate constantly, and to value relationships. With Greenlab, my goal was to carry forward those values through lab-grown diamonds, which I believe represent the future of our industry.

What inspired you to pivot towards lab-grown diamonds rather than continuing with the traditional diamond business model?

For me, it was never about replacing one with the other. I was inspired by the possibilities that lab-grown diamonds offered — merging technology with nature’s brilliance, bringing precision, consistency, and sustainability to the process. Lab-grown diamonds became the perfect canvas to build something meaningful — modern, responsible, and scalable.

As Director of the world’s largest lab-grown diamond cultivator, what does “sustainable luxury” personally mean to you?

To me, sustainable luxury is enjoying beauty without guilt. It’s about creating something extraordinary while respecting resources and communities. Luxury is not just about brilliance; it’s about responsibility. When someone chooses a Greenlab diamond, they’re not just buying a product — they’re joining a journey that is clean, transparent, and forward-looking.

Could you share your success mantra — “Never leave anything to chance and never do anything to showcase” — and how it influences your leadership style?

This mantra keeps me grounded. I believe results come from preparation and persistence, not luck. That’s why I don’t leave things to chance. At the same time, I don’t believe in doing things just for appearances. If the work is genuine, it speaks for itself. This philosophy helps me lead with focus — less noise, more impact.

What challenges have you faced in scaling Greenlab Diamonds to a global player, and how did you overcome them?

Scaling globally came with hurdles — particularly proving consistency at scale. We needed to show that we could grow large volumes of diamonds without compromising quality. There were also early market perceptions to overcome. We focused on R&D, built robust systems, and consistently delivered on our promises. Over time, the results spoke for us, building global confidence and partnerships.

Greenlab Diamonds has developed a unique “farm to shelf” model. Could you walk us through how this helps address supply chain issues in the diamond industry?

Our “farm to shelf” approach means we control every stage of the diamond’s journey — from cultivation to cutting, polishing, and jewellery creation. This integrated ecosystem reduces inefficiencies, eliminates middle layers, and ensures full traceability. It creates a direct line of trust — businesses know exactly what they’re getting, and consumers know where their diamond comes from.

You also serve as a panel member of the GJEPC’s Lab-Grown Diamond sector. What role do you see India playing in positioning lab-grown diamonds on the global map?

India already holds unmatched expertise in diamond craftsmanship. With lab-grown diamonds, we can extend that leadership into technology and sustainability. I see India not just as the largest producer but as a global standard-setter for innovation and scale. We’re well positioned to lead the global conversation on lab-grown diamonds.

How do you balance cutting-edge R&D with market-driven demands, especially as consumer awareness of lab-grown diamonds grows?

It’s about being one step ahead. R&D keeps us future-ready, while market feedback keeps us grounded. Consumers may want larger stones, unique shapes, or new colors — and we adapt our research to meet that. At the same time, we explore innovations before the market demands them, so we’re ready when trends evolve.

Your initiative of planting a tree for every diamond cultivated and empowering rural youth is inspiring. What drives your commitment to these CSR efforts, and how do you see this evolving in the future?

I believe business must create impact beyond profit. Planting a tree for every diamond grown is symbolic — giving back to nature what we borrow. Empowering rural youth through education and opportunities creates long-term change. As we scale, I want to see these initiatives expand globally, because responsibility should grow with success.

In your opinion, how can the lab-grown diamond industry build greater trust and awareness among consumers?

Through transparency. People today value honesty — they want to know the story behind what they buy. If we openly share how lab-grown diamonds are cultivated, the science behind them, and the care involved, trust will naturally grow. Education and openness are key.

What major innovations or trends do you foresee shaping the lab-grown diamond sector in the next 5–10 years?

I see three clear trends: scale, personalization, and digital integration. Production will become more efficient, making lab-grown diamonds accessible to more people. Personalization will allow consumers to design diamonds that reflect their individual taste. And technologies like blockchain will ensure full transparency in sourcing. The future will blend beauty with technology in ways we’ve only begun to explore.

On a personal note, what keeps you motivated every day — and what advice would you give to the next generation of entrepreneurs entering this evolving industry?

What motivates me is the belief that we’re building something lasting — something that will redefine how the world perceives diamonds. Every day is a chance to innovate and improve. My advice to young entrepreneurs: stay patient, stay focused, and stay genuine. Avoid shortcuts. Challenges will come, but if your intent is clear and your work consistent, success will follow.