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India set to cash in on the growing global market for lab-made diamonds
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The global lab-grown diamonds market was valued at US$19.3 billion in 2020, and is projected to reach US$49.9 billion by 2030.
PHOTO: LIANHE ZAOBAO
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NEW DELHI – De Beers, which minted the phrase “A Diamond is Forever”, shook the jewellery industry four years ago when it announced it would sell laboratory-grown diamonds.
Then the world’s largest diamond producer, it capitulated after years of denouncing synthetic diamonds, which are chemically, physically and optically identical to mined diamonds, but lack the rarity that imbues natural gems with their value.
