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India may soon become a major hub of lab-grown diamonds
Synopsis
Industry executives said natural diamond players in the country are entering this segment because of growing demand for lab-grown diamonds across the world given their relatively cheaper prices.
India may soon become a major hub of lab-grown diamonds as the units in Surat have started production, which will reduce India’s dependence on China and Russia for imports of this category of diamonds. Rough diamonds will be manufactured, cut and polished in Surat and then exported to overseas markets.
“India will become a major hub of lab-grown diamonds by 2030. Already, production of rough lab-grown diamonds has begun in Surat,” said Colin