Explained | Budget 2023: What are laboratory-grown diamonds as announced by Finance Minister Nirmala Sitharaman
2 years, 1 month ago

Explained | Budget 2023: What are laboratory-grown diamonds as announced by Finance Minister Nirmala Sitharaman

The Hindu  

The story so far: The 2023 Union Budget shines special attention on laboratory-grown diamonds. In her Budget speech, Finance Minister Nirmala Sitharaman said that the sector has “high employment potential” and announced a number of schemes to promote their research and development in India. Naturally-occurring diamonds take millions of years to form; they are created when carbon deposits buried within the earth are exposed to extreme heat and pressure. Provisions regarding lab-grown diamonds in the 2023 Budget According to Finance Minister Nirmala Sitharaman, India is a global leader in cutting and polishing natural diamonds, but as its resources are becoming scarce, the industry is shifting towards LGDs. The 2023 Union Budget promises to reduce the basic customs duty on seeds used in the manufacture of lab-grown diamonds in a bid to popularise their production in India— the duty on seeds for rough LGDs will be reduced from 5% to nil.

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History of this topic

Lab-Grown Diamonds Capture 50% of Export Market
3 weeks ago

Lab-Grown Diamonds Capture 50% of Export Market

Deccan Chronicle  

The lab-grown diamonds have been eating into the market of natural diamonds with the former now accounting for half of the export of the stones in volume terms. The replacement of the pricey natural diamonds by lab-grown also has brought down the overall export revenues. While the middle and upper middle class as well as youngsters buy lab-grown for adornment …

Fighting the Dulling Demand for Diamonds
3 months, 1 week ago

Fighting the Dulling Demand for Diamonds

Bloomberg  

00:00 With the naked eye, you cannot tell the difference. But there's Facebook groups that are dedicated to calling out like poorly made lab grown diamonds Masonite, for example. Because I think about other luxury items and I hear what you're saying, you know, the research out there that it's much cheaper to produce these lab grown diamonds. And I …

India, China Dominate Lab-Grown Diamonds Amid Carbon Footprint Concerns
3 months, 3 weeks ago

India, China Dominate Lab-Grown Diamonds Amid Carbon Footprint Concerns

Deccan Chronicle  

Chennai: India and China produce 72 per cent of lab-grown diamonds of the world. China produces 46 per cent of the world’s lab-grown diamonds, the affordable alternative of natural diamonds, according to the Natural Diamonds Council. Due to this, India produces at an average 612kg CO2e emissions per polished carat produced. If 100 per cent renewable energy is used for …

Why diamonds are losing currency, a hint from labs
3 months, 3 weeks ago

Why diamonds are losing currency, a hint from labs

Firstpost  

Lab-grown diamond industry is seeing a slump owing to a significant decline in prices, decrease in trust and over supply The laboratory-grown diamond industry is at a pivotal moment, facing challenges like falling prices, oversupply, and declining trust in certain areas. Natural diamonds down 30 per cent The diamond industry is facing dramatic shifts, with the price of natural diamonds …

Lab-grown diamonds to be marketed as synthetic diamonds: Official
4 months ago

Lab-grown diamonds to be marketed as synthetic diamonds: Official

Hindustan Times  

NEW DELHI: Makers of lab-grown diamonds can’t market their gems using any term other than “synthetic diamonds” and statutory guidelines will soon be framed in this regard, a senior official said. FILE PHOTO: Diamonds are displayed during a visit to the De Beers Global Sightholder Sales in Botswana in 2015 The consumer affairs ministry on Tuesday held consultations to frame …

Lab-grown diamonds come with sparkling price tags, but many have cloudy sustainability claims
1 year, 1 month ago

Lab-grown diamonds come with sparkling price tags, but many have cloudy sustainability claims

Associated Press  

PHILADELPHIA — The muted sounds of hammering and sanding drift down to the first floor of Bario Neal, a jewelry store in Philadelphia, where rustic artwork that mimics nature hangs on warmly-lit walls. Martin Roscheisen, CEO and founder of Diamond Foundry, said via email the power VRAI uses to grow a diamond is “about one tenth of the energy required …

Laboratory-grown diamonds becoming more popular amongst newlyweds
1 year, 7 months ago

Laboratory-grown diamonds becoming more popular amongst newlyweds

The Independent  

Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about …

India’s lab-grown diamonds: how they are faring
1 year, 8 months ago

India’s lab-grown diamonds: how they are faring

The Hindu  

“This one is a conversation starter,” says Vinaya Gupta. “They are gem quality, but lab-grown, planet positive and purse accessible,” says the 27-year-old entrepreneur shopping at Avira Diamonds, a swanky store that displays jewellery made of lab-grown diamonds in Chennai. The world is moving towards conscious living, and they align with that philosophy.” Aishwarya adds, “Having said that, we don’t …

PM Modi Gifts 7.5 Carat Lab-grown Diamond to Jill Biden: How They're Made, are They as Good as Original?
1 year, 8 months ago

PM Modi Gifts 7.5 Carat Lab-grown Diamond to Jill Biden: How They're Made, are They as Good as Original?

News 18  

The 7.5 carat eco-friendly lab-grown diamond, which Prime Minister Narendra Modi gifted to the US First Lady Jill Biden in Washington during his ongoing state visit, has been manufactured in a Surat factory in Gujarat by recreating the same process that takes place beneath the earth in formation of natural diamonds. The production of lab-grown diamonds involves a different process …

PM Modi’s gift to U.S. First Lady Jill Biden | All you need to know about the lab-grown diamond
1 year, 8 months ago

PM Modi’s gift to U.S. First Lady Jill Biden | All you need to know about the lab-grown diamond

The Hindu  

Prime Minister Narendra Modi, who is in the United States for a three-day State visit, has gifted an eco-friendly lab-grown 7.5-carat diamond, placed in an exquisite Kashmiri papier-mâché box, to the U.S. First Lady Jill Biden. India is promoting manufacturing of lab-grown diamond in the country and for that the government announced steps in the last Union Budget. Besides the …

What's The Difference Between Natural And Lab-Grown Diamonds?
1 year, 10 months ago

What's The Difference Between Natural And Lab-Grown Diamonds?

Huff Post  

ilbusca via Getty Images According to the experts, there is no way for the average person to differentiate a natural from a lab-grown diamond. “A sliver of a natural diamond ‘seed’ placed in a chamber,” said Anna Bario, co-founder of Bario Neal, which sells both lab-grown and natural diamonds. “When it comes to natural diamonds, no other industry has done …

What are lab-grown diamonds?
2 years, 1 month ago

What are lab-grown diamonds?

The Hindu  

This year’s Budget shines special attention on laboratory-grown diamonds, or LGDs. High pressure, high temperature method 2. or Chemical Vapour Deposition method Both these methods of growing diamonds artificially begin with a seed, which is a slice of another diamond. In the HPHT method, the seed, along with pure graphite carbon, is exposed to temperatures around 1,500 degrees Celsius and …

Budget 2023 | Lab Grown Diamond segment gets leg up with duty cut, R&D support
2 years, 1 month ago

Budget 2023 | Lab Grown Diamond segment gets leg up with duty cut, R&D support

The Hindu  

To harness the potential of Lab Grown Diamond or synthetic diamond segment, the Union Budget 2023-24 presented by the Finance Minister Nirmala Sitharaman has laid emphasis on research & development as well as to make it competitive in the international markets. Vipul Shah, Chairman, Gem & Jewellery Export Promotion Council said the FM” decision to accept their recommendation pertaining to …

Pandora is going big on lab-made diamonds
2 years, 7 months ago

Pandora is going big on lab-made diamonds

Live Mint  

Pandora, the world's largest jewellery maker, said on Tuesday it would move ahead with its bet on lab-made diamonds, following its announcement last year to stop selling mined diamonds. "Lab-created diamonds are just as beautiful as mined diamonds, but available to more people and with lower carbon emissions," chief executive officer Alexander Lacik said in a statement. Lab-grown diamonds have …

Edwina Ings-Chambers investigates sustainable, ethical, economical diamonds grown in a lab
2 years, 7 months ago

Edwina Ings-Chambers investigates sustainable, ethical, economical diamonds grown in a lab

Daily Mail  

A friend was recently showing me her super-duper engagement ring – made with a diamond mined in South Africa, a real dazzler. ‘As with many innovations, it takes time to educate,’ explains Frédéric de Narp CEO of haute jewellery house Oscar Massin, who has formerly held top tier posts at Cartier and Harry Winston. Bespoke jewellery manufacturer Diamonds Factory Ireland …

Why lab-grown diamonds are key to unlocking future for Indian jewellery industry
2 years, 9 months ago

Why lab-grown diamonds are key to unlocking future for Indian jewellery industry

Firstpost  

The Indian Gems and Jewellery industry is one of the largest industries in the world and contributes more than 29 per cent to the global consumption of jewellery. The Gem and Jewellery Export Promotion Council recorded the exports of lab-grown diamonds at $1.05 billion from April 2021 to January 2022, which register a growth of 113 per cent. India’s polished …

How lab-grown diamonds became every girl's best friend
3 years, 9 months ago

How lab-grown diamonds became every girl's best friend

Daily Mail  

A few months after Laura Chavez set up her jewellery company in 2018, hate mail started arriving. And, as London-based Laura reflects: ‘The fact these big people cared about our tiny business meant that we were on to something.’ FEMAIL explored the rise in lab-grown diamonds. De Beers, the historic diamond company, initially tried to position lab-grown diamonds for the …

For the love of diamonds
3 years, 10 months ago

For the love of diamonds

Hindustan Times  

After a tough year for couples planning their dream nuptials, weddings across the globe are expected to be back in a big way. However thanks to the emergence of lab grown diamonds, buying an ethically sourced and created lab grown diamond engagement ring, means that socially aware couples don’t have to comprise the environment or concerns over human rights, for …

Can lab-grown diamonds replace the real thing?
4 years, 5 months ago

Can lab-grown diamonds replace the real thing?

CNN  

Editor’s Note: This story was produced as part of CNN Style’s The September Issues, a hub for facts, features and opinions about fashion, the climate crisis, and you. “Looking deeper into it and talking to many diamond traders we heard about identical diamonds made in a lab and saw it as our opportunity to bring transparency and ethics to an …

The sparkling rise of the lab grown diamond
5 years, 1 month ago

The sparkling rise of the lab grown diamond

BBC  

The sparkling rise of the lab grown diamond Getty Images Diamonds are now widely seen as the ultimate expression of love thanks largely to clever marketing by the industry Young people are falling out of love with mined diamonds because of their high environmental and humanitarian costs. One report on the topic, commissioned by the Diamond Producers Association, suggests that …

HOW DO SCIENTISTS 'GROW' DIAMONDS IN A LABORATORY?
6 years, 10 months ago

HOW DO SCIENTISTS 'GROW' DIAMONDS IN A LABORATORY?

Daily Mail  

Diamonds fetch their lofty price tags because they form over millions of years under high pressures and temperatures deep within the Earth's crust. Lab-made gems are threatening to upset the diamond industry, with several companies worldwide now growing the stones for jewellery. In this image Pure Grown Diamonds CEO Lisa Bissell unveils a lab-cultivated diamond in New York in 2015 …

Lab-Grown Diamonds Come Into Their Own
8 years, 3 months ago

Lab-Grown Diamonds Come Into Their Own

NPR  

Lab-Grown Diamonds Come Into Their Own toggle caption Michael Rubenstein for NPR Around the corner from the famous Diamond District in New York City, David Weinstein sorts through some envelopes on his cluttered desk. "I deal with diamonds all day long, for three decades," says Weinstein, executive director of the International Gemological Institute, a commercial testing laboratory. Enlarge this image …

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