India Must Dominate Lab-Grown Diamond Ecosystem: Amit Shah

MUMBAI/SURAT : India must move beyond simply manufacturing and cutting-polishing lab-grown diamonds and take control of the entire global lab-grown diamond ecosystem, Union Home Minister Amit Shah said at the 52nd India Gem & Jewellery Awards in Mumbai on Sunday.

Shah, the chief guest at the event organised by the Gem & Jewellery Export Promotion Council (GJEPC) at Bharat Diamond Bourse, said India has the infrastructure, skills, capital and entrepreneurial strength needed to emerge as a global leader in the rapidly evolving LGD industry.

“The era of lab-grown diamonds is arriving,” Shah said, stressing that the sector should be assessed not merely on present prices but on its enormous future volume and scale potential.

His remarks assume particular significance for Surat, which has emerged as one of the world’s major centres for lab-grown diamond manufacturing and cutting-polishing. The city’s established expertise, manufacturing base and global diamond-trading network could provide a strong foundation for building a comprehensive LGD ecosystem.

Shah called on Indian entrepreneurs to develop the entire value chain domestically—from LGD production and machinery manufacturing to cutting-polishing, jewellery making, branding, marketing and global retail.

“India has the infrastructure, capital, capability and entrepreneurs to become the world’s gems and jewellery hub,” Shah said, underlining the need to convert these strengths into global leadership.

Shift From Price To Scale

The call comes at a challenging time for the LGD industry, which is facing sharp price declines and pressure on profit margins. Shah urged entrepreneurs to shift their focus from current prices to scale, arguing that mass production and global market penetration will determine the sector’s long-term potential.

For Surat, this could mean moving beyond producing polished LGDs to creating an integrated ecosystem covering machinery, technology, jewellery manufacturing, branding and international marketing.

He also praised the diamond industries of Surat and Mumbai, saying the two cities had shown the world how the diamond trade could be conducted successfully. Their expertise in cutting, polishing and trading natural diamonds, he said, should now be leveraged for lab-grown diamonds on a much larger scale.

Gujarat Deputy Chief Minister Harsh Sanghavi and Maharashtra Deputy Chief Minister Devendra Fadnavis were among the dignitaries present.

Shah also indicated that the Centre is moving towards policies tailored to the evolving sector, with greater Indian participation sought across the value chain—from machinery manufacturing to finished jewellery showrooms.