Demand For Ready-Made Diamonds Of India Increased In America

About 95 percent of the Diamonds sold in the global market are cut and polished in India. The good thing is that the demand for diamonds prepared in Indian labs is increasing in markets around the world including the United States of America. According to market experts, the diamond business is getting a lot of benefits from the diamonds being made in the laboratory.

The low carbon footprint, size, and good quality in manufacturing these diamonds are attracting a lot of buyers. America is the biggest buyer of these diamonds. It is worth noting that in the year 2000, there were only a few companies producing diamonds in the laboratory. Now more than 25 companies are engaged in this business. Talking about the production of lab-made diamonds in the world, India's contribution to this is about 15 percent.

The Surat in Gujarat is considered the hub of the business of cutting and polishing rough diamonds. Cut and polished diamonds worth US$ 25.47 billion were exported from India last year. The diamond business contributed 7.5% to India's GDP. The Indian diamond industry has set a business target of $24 billion in this financial year.

Lab-generated diamonds are made from carbon seeds placed in the microwave and placed in a plasma ball to make them shine. This process makes these diamonds crystallize more than before in a week. According to data from GJEPC, between April and July this year, the export of diamonds made in Indian labs has increased by almost 70% to $622.7 million.