Surat: With the sole intention to uplift the lab-grown diamond industry in the world’s largest diamond cutting and polishing center in Surat, the manufacturers, traders, and processors have come on a single platform for the formation of the Surat Lab-Grown Diamond Association (SLGDA).
This is the first time that the lab-grown diamond association will be formed in Surat, which processes about 93% of the natural diamonds mined in the world.
The leaders of the lab-grown diamond industry in Surat will be meeting in the diamond hub of Varachha on Wednesday evening to finalize the formation of SLGDA.
What is the difference between lab-grown diamonds and natural diamonds?
Lab-grown diamonds are as real as diamonds mined from the earth. Lab-grown diamonds are identical to earth-mined diamonds in every way, except that they are grown in a lab. They have the same chemical, physical, and optical properties as mined diamonds and exhibit the same fire, scintillation, and sparkle. Lab-grown diamonds offer an exceptional value when compared with the same quality as that of the rare, earth-mined diamonds.
Why the lab-grown diamond association in Surat?
Surat is the world leader in cutting and polishing natural diamonds for ages. The entry of lab-grown diamonds in Surat was visible after 2016, though a couple of diamantaires were into the cutting and polishing of the lab-created diamonds, imported from China and other parts of the world. AT present, there are about seven manufacturers of lab-grown diamonds in the city. The only thing that makes a lab-created diamond different from a natural diamond is its origin. A lab-created diamond is “grown” inside a lab using cutting-edge technology that replicates the natural diamond growing process. The result is a man-made diamond that is chemically, physically, and optically the same as those grown beneath the Earth’s surface.
About 400 companies are dealing in the lab-grown diamond business, which includes manufacturers of lab-grown diamonds, merchants, and diamond processors. The industry employs about 30,000 diamond workers. Since Surat is the world’s largest diamond cutting and polishing center, the lab-created or ‘man-made’ diamonds manufactured around the world are cut and polished here.
The export of polished lab-grown diamonds from Surat registered 67.22% increased at Rs 5,157 crore during April-20 to March-21 compared to Rs 2,985 crore during the same period in the previous year.
Snehal Patel of Diyora and Bhanderi Corporation (DBC), the company providing diamond processing, analysis, blocking, and polishing services told TBT, “Surat is set to become the world’s largest lab-grown diamond center. This is the right time to form an association to support the industry. The association members will become the voice of the industry people”