We need better technology to differentiate synthetic and natural diamonds: De Beers India MD

With the growing popularity of the lab grown diamond, the natural diamond industry sees the need for technology to differentiate between synthetic and natural diamond. De Beers India managing director Amit Pratihari, while talking to TNIE, said that while he does not see competition from the synthetic diamond market, he sees risk of non-disclosure by sellers of synthetic diamonds. Pratihari says that the natural diamond industry is working with the Gems and Jewellery Exports Promotion Council and giving information to the government on how it should work on developing quality certification. He informed that India follows Federation Trade Commission regulations for grading diamonds and the government has now made it mandatory to use the term synthetic for lab grown diamond. Meanwhile, he says retail sales of natural diamonds in India continue to grow and he expects the diamond market in India to double from $8.5 billion in 2024 to $17 billion in 2030.