Exports of India's lab-made diamonds may hit $8 bn amid rising US demand

Exports of polished lab-grown diamonds may double in the current financial year started April 1 from $1.3 bn in the prior year, says GJEPC vice chairman

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(Photo: Bloomberg)

Bloomberg
India, which cuts or polishes about 90% of the diamonds sold in the world, is ramping up sales of laboratory-made gems as demand from the US surges and they become more accepted in other markets.

Exports of polished lab-grown diamonds may double in the current financial year started April 1 from $1.3 billion in the prior year, Vipul Shah, vice chairman of the Gem & Jewellery Export Promotion Council, said in an interview. “We have a huge potential to grow exports to $7 billion-$8 billion in the next few years on the back of US demand and acceptability in the UK
Topics : Diamonds

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First Published: Aug 22 2022 | 8:39 PM IST

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