India’s lab grown diamonds shine in the eyes of the globe

Rising demand of lab grown diamonds from India in the US has two fold benefits, apart from boosting the industry centred in Surat it will address the concern of environment impact linked with diamond mining.

As Covid-19 has made the natural diamond unaffordable for connoisseurs in the global market,the natural diamond players in Surat have started making foray into lab grown manufacturing due to handsome returns and increasing demands in this section. This is likely to reduce India’s dependence on import from China and Russia in this particular segment.

Few months back Gem & Jewellery Export Promotion Council (GJEPC) of India  introduced a new membership category for lab-grown diamond traders. GJEPC members can also opt to identify themselves as lab-grown diamond businesses, enabling others to know that they are active in this area.

Lab-grown diamonds is a new vertical that has potential for growth, and an exclusive panel would further help and support this segment to grow.

It may be seen as a blessing in disguise as apart from cost savings, there are also supposed environmental benefits as lab-grown diamonds have the same chemical and physical properties as mined diamonds. Diamond mining activities are infested with many unethical work practices which were followed by newcomers and thee  industry has for the past many years trying to banish the blight unprofessional activities created on environment through a certification scheme that has largely stamped out unethical trading.

Stakeholders are more willing to take the responsibility of the climate crisis as awareness is increased by campaign groups and a new generation of diamond buyers.

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