Amit Shah Backs Lab-Grown Diamonds: Cheaper Jewellery In Focus

Union Home Minister Amit Shah on Sunday pitched for the lab-grown diamonds saying India should aim to become a global leader in lab-grown diamonds as the market is expected to expand nearly 50-fold.
While speaking at the India Gems and Jewellery Awards in Mumbai, Shah said India now has the infrastructure and technology required to build a competitive lab-grown diamond industry and that the government is ready to provide policy support to help the sector expand.
“India should be able to lead lab-grown diamond in the world. The government was prepared to provide all necessary support and policies for the industry,” he said.
Further, the minister highlighted the government’s plans to strengthen India’s traditional gems and jewellery ecosystem.
“Rs 50,000 crore would be invested in the India Jewellery Park, while a gems bourse is being developed in Jaipur. The Indian jewellery industry, valued at about Rs 2.54 lakh crore, provides employment to around 75 lakh people,” Shah said.
He added that the gems and jewellery sector has remained important to India’s economic growth and drew a broader comparison with the country’s economic position over the past decade.