India on Course to Become Hub for Lab-Grown Diamonds

Diamonds. Shutterstock

India is set to become a major hub for the production as well as the processing of lab-grown diamonds and already accounts for about a quarter of global lab-grown diamond output, according to figures from Bain and Co. referenced in a statement issued by India’s Gem and Jewellery Export Promotion Council (GJEPC) this week.

China ranks first in lab-grown diamond production, with an output of 3 million carats (according to Bain cited by India’s Economic Times), with India second, producing 1.5 million carats in 2020. But India’s lab-grown diamond business is growing fast. Last year, exports of India’s polished lab-grown diamonds grew 55 percent compared with a year earlier.

Global growth for the synthetic diamond market is expected to average 8.11 percent for the five years to 2024, while lab-grown diamonds are expected to account for 10 percent of the worldwide diamond market by 2030.

Credit: Source link


Please enter your comment!
Please enter your name here




‘Teen Mom OG’ Star Expecting With Zach Davis – Hollywood Life

Cheyenne Floyd has ‘prayed for this moment’: she’s pregnant again! The ‘Teen Mom OG’ star debuted her baby bump, and revealed how her...

Minority Corrections Officers Sue for Being Barred From Working Where George Floyd’s Accused Killer Was Held

Eight minority corrections officers have filed a lawsuit against Ramsey County alleging they were barred from working where former Minneapolis police officer Derek...

10 Best Beauty Box Subscriptions to Satisfy Your Product Addiction

Subscription boxes are gifts from the beauty gods. Whether they’re curated by a team of experts or based on your personal preferences, they’re a...

Sarah Hyland Dyed Her Hair a Copper Red Color

If I told you that an actor best known for playing a Dunphy sister on Modern Family had just dyed her hair red,...