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Shashikant D Shah, Chairman of Lab Grown Diamond & Jewelry Promotion Council: "Mined diamonds and LGDs are separate categories" rough-polished.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rough-polished.com Daily Mail and Mail on Sunday newspapers.
Many leading diamond jewellery brands in the US, including Signet Jewellers, the largest retailer of diamond jewellery, now sell lab-grown diamonds SURAT: The domestic lab-grown diamond or synthetic diamond industry is set to get a major boost with the union finance minister Nirmala Sitharaman increasing the basic customs duty (BCD) on the import of cut and polished synthetic diamonds from 7.5% to 15%. The lab-grown diamonds cut and polished in India are attracting buyers from new markets such as Germany, Italy and Australia with the economic uncertainty caused by the coronavirus pandemic making the natural diamonds unaffordable for most of the consumers in the global markets. ....
SURAT: If all goes well, the lab-grown diamonds might be traded along with the real diamonds on the trading floors of Bharat Diamond Bourse (BDB) in Mumbai. For the first time, the board of BDB has proposed the removal of the restrictions on the trading of the lab-grown diamonds and invited its members to vote at the Annual General Meeting (AGM) to be held on December 28. In a circular issued to its members and shareholders on Monday, BDB board said that there is restriction on the trading or dealing in lab-grown diamonds at the bourse. However, the board feels that considering the current operations of the company, the said restrictions should now be removed and be modified accordingly. ....