22-06-2023 : India’s Prime Minister, Narendra Modi, presented an exquisite eco-friendly lab-grown diamond to the First Lady of the United States, as confirmed by Commerce and Industry Minister Piyush Goyal in a tweet. The diamond, considered India’s diamond or “Bharat Ka Heera,” was carefully placed in a Papier mâché box crafted in Kashmir. This diamond is a testament to India’s commitment to eco-friendly practices, as it was created using solar and wind power, emitting only 0.028 grams of carbon per carat. The gemological lab, IGI (International Gemological Institute), has certified its authenticity and quality.
According to recent Union Budget declarations, India has been actively promoting the production of lab-grown diamonds domestically. The government removed customs taxes on seeds for lab-grown diamonds (LGD) and authorised a five-year research grant for the Indian Institutes of Technology, Madras in an effort to promote domestic manufacturing of LGD. Additionally, it has been suggested to create the India Centre for Lab-Grown Diamond (InCent-LGD) at IIT Madras, with a projected cost of Rs 242.96 crore over five years.
Lab-grown diamonds are produced through two main technologies: High-Pressure High Temperature (HPHT) and Chemical Vapour Deposition (CVD). India has emerged as a leading producer of lab-grown diamonds, particularly using the CVD technology. The country accounted for 25.8% of the global trade in lab-grown diamonds in the financial year 2021-22. However, India still relies on other countries for critical machinery components and seeds, which are the raw materials for producing synthetic diamonds.
The InCent-LGD project aims to provide technical assistance to industries and entrepreneurs in promoting indigenous manufacturing of both CVD and HPHT systems. By expanding the lab-grown diamond business at the upstream end, it seeks to support the growth of the industry in India. Lab-grown diamonds have diverse applications, including their use in jewellery, computer chips, satellites, 5G networks, and various industries where their durability and efficiency make them highly valuable.
The market for lab-grown diamond jewellery is expected to grow rapidly, reaching USD 5 billion by 2025 and exceeding USD 15 billion by 2035. In terms of exports, cut and polished lab-grown diamonds reached USD 1.4 billion during April-December 2022-23, surpassing the figures of the previous year.
Apart from the diamond itself, the Papier mâché box from Kashmir adds an artistic touch to the gift. Kashmir’s Papier mâché is a meticulous craft involving the preparation of paper pulp and naqqashi, where skilled artisans paint elaborate designs. This traditional craft holds a Geographical Indication (GI) tag, which ensures its authenticity and distinctiveness as a product originating from a specific geographical territory. GI registration provides legal protection, preventing unauthorized use of the name and promoting exports. Kashmir Walnut Wood Carving and other renowned goods also carry this prestigious tag.
The presentation of the eco-friendly lab-grown diamond and the Papier mâché box from Kashmir symbolizes India’s commitment to sustainable practices, technological advancements, and the preservation of traditional crafts. These endeavors contribute to the growth of the lab-grown diamond industry, foster economic development, and showcase India’s rich cultural heritage to the world.