Lab-grown diamond jewellery exports from India to capture 2% of US market

Apart from the US, India exports its lab-grown diamonds to France, Italy and Australia apart from other European and Asian countries

Jewellery made from lab-grown diamonds is likely to capture over 2 per cent of India’s $14 billion worth of overall gems and jewellery exports to the US, the world’s largest consumer of the precious stones and metals, contributing nearly half of the world production. Exports to US, the largest market for Indian exporters is estimated at $280 million this year.

Commercialised officially with a separate harmonised system (HS) code in India last year, lab-grown diamond is gradually making inroads in the Indian jewellery manufacturing industry. With its price quoted at a fourth of the natural diamond, the lab-grown precious stone